Taxes

  • Most Topular Stories

  • Owe A Lot - Think About an Installment Agreement

    Our Taxing Times
    trishmc
    24 Feb 2015 | 7:29 pm
    Your 2014 federal income taxes are done but you owe a lot more than you thought you would. In fact, you don’t think that you can scrap the money together to pay the IRS by April 15, 2015. In that case you might want to consider an Installment Agreement. If you’re approved, you can make payments on your debt. To see if you qualify, you need to complete Form 9465 – Installment Agreement Request. First, let’s cover the basic rules. You have to have filed all your tax returns. And you can’t add a future debt to your balance. For example, you set up an installment agreement for the…
  • Tax identity thief mistakenly sends fake refund to real filer

    Don't Mess With Taxes
    skbell1
    5 Mar 2015 | 3:26 pm
    Tax filing can be confusing and frustrating for most of us. Even criminals. Take the crook who stole Seth Rouse's personal information and filed fake federal and state tax returns in the legitimate Chicago taxpayer's name. The felonious filer, however, made a big mistake. He didn't change the address to which the fraudulent refund was to be sent. Click the bad refund check image to see the Chicago CBS affiliate's story on the tax identity theft screw-up. So instead of going to the fraudster, the $5,571 check showed up at Rouse's home. The federal refund arrived just a…
  • Here Come the Conspiracy People

    Our Taxing Times
    trishmc
    28 Feb 2015 | 11:14 am
    I don’t know why I even looked at the email. It was from i-Books announcing the new releases for March. As I scrolled down the list, a blurb caught my attention. “This intriguing political thriller raises questions about income taxes.” Okay, I was hooked and investigated some more. The book is The Patriot Threat by Steve Berry and will be released March 31st on iTunes, Kindle and on paper in bookstores. More from i-Books: The 16th Amendment to the Constitution is why Americans pay income taxes. But what if there were problems associated with that amendment? Secrets that call into…
  • Queen Of Tax Fraud Gets 21 Year Prison Term---For The Second Time - Forbes

    TAX NEWS - Google News
    5 Mar 2015 | 10:41 pm
    ForbesQueen Of Tax Fraud Gets 21 Year Prison Term---For The Second TimeForbesSelf-proclaimed 'Tax Fraud Queen' Rashia Wilson has been sentenced–again. Despite an appellate court's order to the trial judge to recompute her sentence, she got the same thing: 21 long years. It is an inglorious end for someone who taunted publicly
  • Tax-News.com: Switzerland, Australia To Automatically Share Tax Data

    Tax-News.Com Live Tax Headlines
    5 Mar 2015 | 2:04 pm
    Tax-News.com: Switzerland and Australia have signed a joint declaration on the implementation of automatic information exchange in tax matters.
  • add this feed to my.Alltop

    Don't Mess With Taxes

  • Tax identity thief mistakenly sends fake refund to real filer

    skbell1
    5 Mar 2015 | 3:26 pm
    Tax filing can be confusing and frustrating for most of us. Even criminals. Take the crook who stole Seth Rouse's personal information and filed fake federal and state tax returns in the legitimate Chicago taxpayer's name. The felonious filer, however, made a big mistake. He didn't change the address to which the fraudulent refund was to be sent. Click the bad refund check image to see the Chicago CBS affiliate's story on the tax identity theft screw-up. So instead of going to the fraudster, the $5,571 check showed up at Rouse's home. The federal refund arrived just a…
  • Alabama's GOP governor calls for - gasp! - new, higher taxes

    skbell1
    4 Mar 2015 | 2:01 pm
    I'm a native Texan who returned home almost 10 years ago and is still re-acclimating to the wackiness that is the Lone Star State. So far be it from me to pick on one of the other 49 or the District of Columbia. But I just have to ask today, what the heck is up Alabama? No, I'm not talking about the escalating battle over marriage equality. You are the Heart of Dixie, with a longstanding dedication to state's rights. Then there's the intense Southern fundamentalist religiosity. So the fight over the right of gay and lesbian couples to marry within the Yellowhammer…
  • Some Ohio taxpayers stumped by state's tax ID theft quiz

    skbell1
    3 Mar 2015 | 3:11 pm
    It's not unusual that the big news this filing season is the growing concern about tax identity theft as a way to get fraudulent refunds. But it is a bit surprising that the crime has spread so quickly and widely to state tax departments. That's why many tax officials across the United States are employing creative ways to stop tax ID thieves. Take, for example, Ohio. The Buckeye State is requiring some filers to take an online quiz to prove that they are legitimate taxpayers who are due the refund shown on returns the tax agency has received. The Ohio Department of Taxation's…
  • Jeb Bush reportedly won't sign no-tax pledge

    skbell1
    2 Mar 2015 | 2:07 pm
    Conventional political wisdom is that no candidate can win by supporting new or higher taxes. In fact, office seekers tend to disavow any hint of enacting new taxes or hiking existing levies regardless of how the money will be used. Jeb Bush, however, apparently plans to take the unconventional route if he eventually decides to run for president. The former Florida governor and son and brother of two previous Oval Office inhabitants will not sign any no-tax pledge, according to a spokeswoman. The announcement came this past weekend after Bush's shaky showing at the ultra-right…
  • Lions, lambs, warning Ides and luck all apply to March taxes

    skbell1
    1 Mar 2015 | 2:36 pm
    Are you a tax lion, aggressively hunting down tax breaks? Or are you a tax lamb, cowering before the complicated Internal Revenue Code? Whatever your March tax persona, this last full month of the tax-filing season offers plenty of time and ways to cut your 2014 tax bill. It's also a good month to make some moves to lower your coming 2015 tax debt. Business focus: Business filers need to take care, as the start and middle of the month are critical deadlines. Farmers and fishermen who didn't make their final estimated tax payment on Jan. 15 must file and pay any due tax by Monday,…
 
  • add this feed to my.Alltop

    Our Taxing Times

  • Here Come the Conspiracy People

    trishmc
    28 Feb 2015 | 11:14 am
    I don’t know why I even looked at the email. It was from i-Books announcing the new releases for March. As I scrolled down the list, a blurb caught my attention. “This intriguing political thriller raises questions about income taxes.” Okay, I was hooked and investigated some more. The book is The Patriot Threat by Steve Berry and will be released March 31st on iTunes, Kindle and on paper in bookstores. More from i-Books: The 16th Amendment to the Constitution is why Americans pay income taxes. But what if there were problems associated with that amendment? Secrets that call into…
  • Form 990 E-mail Not a Scam

    trishmc
    26 Feb 2015 | 2:06 pm
    The IRS and the Urban Institute’s National Center for Charitable Statistics (NCCS) have announced that NCCS’s system has been hacked and the information compromised. The NCCS handles the online filing of Forms 990, 990EZ and 990N for the IRS. Information compromised includes usernames, email addresses, IP addresses, phone numbers and passwords associated with nonprofit organizations that e-filed though the compromised site. NCCS is working with law enforcement and a cyber-security company to investigate the incident. They have sent out an email to anyone who set up an online account…
  • Veggie Tax...less

    trishmc
    25 Feb 2015 | 8:34 am
    In recent years there has been a big push to add extra taxes to sugary soft drinks and snacks. The idea behind the proposed taxes is to counter the American trend to obesity. Last November, Berkley, CA became the first city to pass an additional tax on soda after over 30 other cities and states have failed to pass similar measures. Berkley residents will now pay a penny an ounce extra for their soda. Like the extra taxes on cigarettes, taxes on sugary foods and drinks are meant to discourage use by making it more expensive to indulge. Maybe a better idea would be not to punish but to reward.
  • Owe A Lot - Think About an Installment Agreement

    trishmc
    24 Feb 2015 | 7:29 pm
    Your 2014 federal income taxes are done but you owe a lot more than you thought you would. In fact, you don’t think that you can scrap the money together to pay the IRS by April 15, 2015. In that case you might want to consider an Installment Agreement. If you’re approved, you can make payments on your debt. To see if you qualify, you need to complete Form 9465 – Installment Agreement Request. First, let’s cover the basic rules. You have to have filed all your tax returns. And you can’t add a future debt to your balance. For example, you set up an installment agreement for the…
  • Experience Counts

    trishmc
    24 Feb 2015 | 10:31 am
    When I started doing tax returns the tax code was only 12 pages long and we used an abacus, papyrus and quill pens to prepare return. Okay that may be an exaggeration.  But I have been preparing return s for 25 years and that does give me an advantage. Everyone has to start somewhere. Every tax preparer has their first season. I was lucky. I was working for a national chain and all of my returns were checked before they were released to clients. And since I learned on paper, I gained a basic understanding of how things worked. Now days, tax returns are prepared on computers using tax…
  • add this feed to my.Alltop

    TAX NEWS - Google News

  • Queen Of Tax Fraud Gets 21 Year Prison Term---For The Second Time - Forbes

    5 Mar 2015 | 10:41 pm
    ForbesQueen Of Tax Fraud Gets 21 Year Prison Term---For The Second TimeForbesSelf-proclaimed 'Tax Fraud Queen' Rashia Wilson has been sentenced–again. Despite an appellate court's order to the trial judge to recompute her sentence, she got the same thing: 21 long years. It is an inglorious end for someone who taunted publicly
  • Judge doesn't budge on 21-year sentence for tax fraud 'queen' - Tampabay.com

    5 Mar 2015 | 10:09 pm
    Tampabay.comJudge doesn't budge on 21-year sentence for tax fraud 'queen'Tampabay.comSo it's back to federal prison for a mother of three whose Facebook images of flaunting cash and taunting cops to catch her became a symbol for stolen identity tax refund fraud. Federal authorities say she collected fraudulent refunds for at least $3 'Queen of tax fraud' request denied, sentenced again to 21 yearsTBO.comall 3 news articles »
  • Foreign Takeovers See US Losing Tax Revenue - Wall Street Journal

    5 Mar 2015 | 4:22 pm
    Wall Street JournalForeign Takeovers See US Losing Tax RevenueWall Street JournalJust months after the Obama administration cracked down on mergers that helped U.S. companies skirt domestic taxes, a wave of foreign takeovers is steering more tax revenue away from Uncle Sam. In deals known as “tax inversions,” which spiked in 2014, ...and more »
  • Proposal to end Massachusetts film tax credit provokes strong reactions - Boston Globe (subscription)

    5 Mar 2015 | 3:09 pm
    Boston Globe (subscription)Proposal to end Massachusetts film tax credit provokes strong reactionsBoston Globe (subscription)“This will have a devastating effect on the film industry in Massachusetts, because the tax credit is the reason film production companies come to shoot here,” said Susan Nelson, executive director of the New England chapter of SAG-AFTRA, a union that ...Gov. Baker Proposes Eliminating Film Tax CreditWBURGov. Charlie Baker proposes $100 million tax amnesty programMassLive.comMassachusetts movie industry pushes to keep film tax creditBoston HeraldGloucester…
  • Comparing Tax Preparation Software - Fox Business

    5 Mar 2015 | 2:02 pm
    Fox BusinessComparing Tax Preparation SoftwareFox BusinessAnother tax season has arrived. Do you hire a professional to prepare your tax return or try to do it yourself? If you strike out on your own, should you use tax preparation software? And if so, which one? While this article can help with the first two Taking H&R Block to tax, er, taskUSA TODAYH&R Block earnings: Where are the PPACA tax claims?LifeHealthProH&R Block reports a 4.2 percent decline in tax returns handledKansas City Starall 91 news articles »
 
 
  • add this feed to my.Alltop

    THE WANDERING TAX PRO

  • WHERE THE FAKAWI?

    25 Feb 2015 | 2:00 am
    For my clients, and those who are interested -The, or I guess my, 2015 tax filing season (February 1 – April 14) is 1/3 over!I have completed and mailed out 63 returns – which is not bad for the first third of the season.  I don’t remember if I saved my last year’s daily log – and if I did I don’t know where to put my hands on it easily – but I think I am, if not at the same point, a bit ahead of last season at this time.I have either done, received in the mail, or made arrangements with 49% of the names on my mailing list – which I am sure is ahead of last year.The “to…
  • LBCD ALERT!

    23 Feb 2015 | 8:21 am
    This post is for my 1040 clients.  I will be locked behind closed doors through Thursday this week to catch up.  My phone machine will be turned off until Friday morning.  FYI – A “Where the Fakawi” is coming on Wednesday!  TTFN
  • BREAKING NEWS

    21 Feb 2015 | 2:41 am
    This just in - Oi vey!  Michael Cohn reports “800,000 Taxpayers Received Wrong Tax Info from Health Insurance Marketplace” at ACCOUNTING TODAY!The government tells us –“About 20 percent of the tax filers who had Federally-facilitated Marketplace coverage in 2014 and used tax credits to lower their premium cost —about 800,000 (< 1% of total tax filers) —will soon receive an updated Form 1095-A because the original version they were issued listed an incorrect benchmark plan premium amount.”And -“We are advising them to wait until the first week of March when they…
  • THE TWELVE DAYS OF TAX SEASON

    2 Feb 2015 | 2:00 am
    Now it is time for what you have been waiting a year for - the annual first business day of February tradition here at THE WANDERING TAX PRO of posting “The Twelve Days of Tax Season” -  On the first day of tax season my client gave to me a Closing Statement for the purchase of a home. On the second day of tax season my client gave to me 2 W-2 forms.On the third day of tax season my client gave to me 3 mortgage statements. On the fourth day of tax season my client gave to me 4 Salvation Army receipts. On the fifth day of tax season my client gave to me 5 Form K-1s. On the sixth…
  • WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’

    30 Jan 2015 | 2:00 am
    FYI, this will be the last BUZZ installment before my tax season hiatus.   So you don’t suffer from BUZZ withdrawal while I am “away” I suggest you check with Joe Kristan’s daily Tax Roundup at THE ROTH AND COMPANY TAX UPDATE BLOG, and look for the weekly “In the Blogs” recap from Jim Stimpson at ACCOUNTING TODAY.And while I will not be posting to TWTP during the tax season, my Tax Tips series will continue at Main Street.* Fellow tax pros - if you have not already done so please check out the January “issue” of THE TAX PROFESSIONAL and PLEASE send me your comments…
  • add this feed to my.Alltop

    Start Making Sense

  • Death of Jerome Kurtz

    5 Mar 2015 | 12:01 pm
    Another sad passing from among the tax professoriate.  Jerry Kurtz, a former colleague of mine at NYU who is most famous for his time as IRS Commissioner, died last Friday.Kurtz took over at the IRS not long after its low ebb during the Nixon era, involving what definitely were actual scandals involving White House malfeasance.  He both helped to restore the actual and perceived integrity of the IRS, and had strong tax policy views involving the desirability of income tax base-broadening that commissioners have not always pushed as strongly as he did.  He was a disciple of…
  • Tax Policy Colloquium, week 6: Ruth Mason's "Citizenship Taxation"

    4 Mar 2015 | 11:35 am
    Yesterday at the colloquium, Ruth Mason discussed her paper, Citizenship Taxation.  I enjoyed reading it enough to conclude that I may want to write about this topic as well.  (I generally agree with the paper, but it’s a rich topic and perhaps a fruitful area for me to deploy some of my interests and approaches.)Here are some of the points from my notes that I thought worth discussing.(1) The U.S. as outlier (again!).Here we go again.  To paraphrase Ray Davies in a 1960s Kinks song, “we’re not like anybody else.”  The U.S. is the only country to impose (at least…
  • Aftermath of the Columbia / Davis Polk panel on corporate inversions

    27 Feb 2015 | 8:34 am
    Just back from the above panel, which was held under the Chatham House Rule, which provides that "participants are free to use the information received, but neither the identity nor the affiliation of the speaker(s), nor that of any other participant, may be revealed."So I'd better not say whether I actually delivered the remarks in my prior post, or whether, if I did, I spoke fast enough (or the chair was lenient enough) for me to deliver the whole thing in five minutes.But I will mention what I considered the most interesting thing I heard at the session.  It was suggested in some…
  • Columbia Law School / Davis Polk panel on corporate inversions

    27 Feb 2015 | 5:09 am
    Today, in just over an hour, I will be participating in a panel discussion regarding corporate inversions that is sponsored by Columbia Law School along with the law firm of Davis Polk.  My co-panelists will be Rosanne Altshuler, Richard D'Avino, Mihir Desai, and David Schizer.We'll each be talking for 5 minutes near the start on assigned topics, before getting to general discussion.  My assigned topic is deferral.  Since I talk fast, I am hoping to use my 5 minutes to say something rather like this:If there’s one U.S. international tax rule that everyone hates, with good…
  • NYU Tax Policy Colloquium, week 5: paper by Linda Sugin

    25 Feb 2015 | 10:27 am
    We had a week off from the colloquium last week, as the usual Tuesday was a "legislative Monday" at NYU Law School.  But yesterday we were back in business, discussing Linda Sugin's article, Invisible Taxpayers.The article discusses tax issues related to standing, and in particular to the difficulty of getting judicial review of IRS decisions that fall outside of the "traditional dyad," i.e., IRS versus taxpayer.A taxpayer who pays "too much," due to an IRS decision that arguably misinterprets the law, or a legislative rule that arguably is unconstitutional, unmistakably has standing and…
  • add this feed to my.Alltop

    MauledAgain

  • It’s Not Your Principal Residence If You’ve Never Lived There

    James Edward Maule
    4 Mar 2015 | 5:01 am
    A recent case, Villegas v. Comr., T.C. Memo 2015-33, demonstrates a very basic principle applicable to the section 121 exclusion from gross income of gain from the sale of a principal residence. A residence is not a principle residence if the taxpayer never lives in it.The taxpayers, husband and wife, purchased a four-bedroom home in 1994, paying $200,000. They decided to use the home as a group home for developmentally disabled individuals. The taxpayers used three of the bedrooms to house six clients, two in each room, and used the fourth bedroom as their office. The home also included a…
  • Tax Revenue and Structural Deficits

    James Edward Maule
    2 Mar 2015 | 5:01 am
    As mentioned in this article, Pennsylvania faces a deficit of $2.3 billion in its budget. The deficit is structural, that is, it reflects revenues and spending that persist from year to year. There are only two ways to eliminate structural deficits. One is to change the revenue structure so that more revenue is collected. The other is to reduce spending. Raising taxes triggers all sorts of opposition. Reducing spending sounds appealing, but once people realize it’s not a matter of cutting spending that benefits others but cutting spending that benefits them, opposition to spending cuts…
  • Testing Tax Knowledge

    James Edward Maule
    27 Feb 2015 | 5:01 am
    According to a report on a recent NerdWallet survey, “[m]ost American adults get an ‘F’ in understanding income tax basics.” The survey posed 10 questions to 1,015 people. The average score was 51 percent.Readers of MauledAgain know that I am no fan of tax ignorance. In posts such as Tax Ignorance, Is Tax Ignorance Contagious?, Fighting Tax Ignorance, Why the Nation Needs Tax Education, Tax Ignorance: Legislators and Lobbyists, Tax Education is Not Just For Tax Professionals, The Consequences of Tax Education Deficiency, The Value of Tax Education, More Tax Ignorance, With a Gift, Tax…
  • So Who Should Pay for Roads?

    James Edward Maule
    25 Feb 2015 | 5:01 am
    According to a recent report, the decision by the Michigan legislature to come up with road repair funds by asking voters to approve an increase in the state sales tax has been criticized by Senator Gary Peters. Peters made the point that “additional road money raised from those who use the roads, not through a sales tax.” He’s right. The sales tax takes a higher percentage of low income individuals’ incomes than it takes from the wealthier individuals, yet vehicle ownership and use is lower for low income individuals than it is for those economically more advantaged.Trying to get…
  • Using the Tax Law to Administer Health Care: An Unwise Idea Again Proves Itself Unwise

    James Edward Maule
    23 Feb 2015 | 7:01 am
    Almost five years ago, in a series of posts including IRS Ought Not Be the Health Care Enforcement Administrator, Health Care: Enlarging the Code and Stressing the IRS. and More Challenges of IRS Health Care Oversight, I criticized the Congress for saddling the IRS with responsibility for administering and enforcing much of the Affordable Care Act. Doing so violated a principle to which I have subscribed for decades, that is, the Internal Revenue Code ought not be used to accomplish goals that ought to be spelled out in other legislation.Now comes news that the Department of Health and Human…
 
  • add this feed to my.Alltop

    TaxProf Blog

  • Sweet Briar College to Close; Who Gets the $80 Million Endowment?

    Paul Caron
    6 Mar 2015 | 1:30 am
    Inside Higher Ed, Who Gets the Endowment: Sweet Briar College’s closure seems all the more stunning given how much money it has socked away: more than $80 million in its endowment. The women’s college in rural Virginia announced this week it would close at the end of the spring semester....
  • L.A. Times: Classroom Technology Bans Improve Student Performance

    Paul Caron
    6 Mar 2015 | 1:00 am
    Los Angeles Time, Classes That Go Off the Grid Help Students Focus: USC professor Geoffrey Cowan is a scholar of free speech and communication. But Cowan, the former dean of the Annenberg School for Communication and Journalism, insists that students sometimes should be cut off from the social media and...
  • Barnhizer: The Declining Scale of the ‘Law School Industry’

    Paul Caron
    6 Mar 2015 | 12:25 am
    David Barnhizer (Cleveland State), The Declining Scale of the ‘Law School Industry’: Law Professors Are Academia’s 1 Percent! This analysis is less about law schools than about the trends occurring outside law schools as in the changing conditions of the legal profession, the delivery of legal services and “law knowledge,”...
  • The IRS Scandal, 666

    Paul Caron
    6 Mar 2015 | 12:10 am
    The Fiscal Times, Hillary Clinton Is the Republicans’ Newer, Bigger Lois Lerner: Clinton has morphed into a hybrid of everything Republicans deplore about the Clintons, reminiscent of the conduct of IRS official Lois Lerner. Many in the conservative movement smelled an administration plot to suppress Republican activists during the 2012...
  • Prasad Presents Starving the Beast: The 1981 Reagan Tax Cut Today at UCLA

    Paul Caron
    5 Mar 2015 | 1:12 pm
    Monica Prasad (Northwestern) presents Starving the Beast: The 1981 Reagan Tax Cut at UCLA today as part of its Colloquium on Tax Policy and Public Finance hosted by Jason Oh and Alexander Wu: The debt when Reagan entered office was just over $900 billion, not historically high in constant dollars...
  • add this feed to my.Alltop

    Texas State & Local Tax Law Blog

  • Alert: The Texas Supreme Court has denied review in the Cirrus Exploration lawsuit

    Alan E. Sherman
    27 Feb 2015 | 2:30 pm
    Earlier today, February 27th, the Texas Supreme Court denied the Comptroller of Public Accounts’ petition for review in Hegar, et. al. v. Cirrus Exploration Company, No. 14-0292. Cirrus Exploration  is one of many recent sales and use tax lawsuits involving aircraft purchases; in this case, the dispute was whether helicopter purchases were tax exempt on the basis of having been “…sold to a person using the aircraft as a certificated or licensed carrier of persons or property...” as provided by Subsect. (a)(1) of Texas Tax Code ann. §151.328 and further…
  • Texas revised franchise tax ("margin tax") litigation: what to expect in 2015

    Alan E. Sherman
    2 Feb 2015 | 2:00 pm
    We’re now a month into 2015, and so far there haven’t been any dramatic litigation developments in Texas’ statewide taxes.  That may be about to change, however, as several pending appellate court cases have been fully briefed and are likely to be decided soon. There are a number of other cases at earlier stages of litigation, and some of those will probably result in appellate opinions or trial court judgments later this year. Today’s post summarizes a few of the more significant pending cases involving the revised franchise tax, the so-called “margin…
  • One down, more to go: today, the Texas Supreme Court denied review in Richmont Aviation

    Alan E. Sherman
    22 Aug 2014 | 10:00 am
    Today, the Texas Supreme Court denied the petition for review brought by the Texas Attorney General on behalf of the Texas Comptroller of Public Accounts in the case of Richmont Aviation, Inc. v. Combs, No. 03-11-00486-CV (Sept. 12, 2013). There, the Third Court of Appeals at Austin had ruled that Texas Tax Code Ann. §112.108’s requirement that a taxpayer can only file suit if it first pays the assessment against it or posts a bond for twice the amount of the assessment violated the “open courts” doctrine of the state constitution. The intermediate appellate…
  • In Texas, a trade association has standing to challenge a tax statute on behalf of its members (at least for now)

    Alan E. Sherman
    18 Aug 2014 | 8:00 am
    Last Friday, the Texas Third Court of Appeals at Austin issued its opinion affirming the state District Court’s judgment in Combs, et al. v. Texas Small Tobacco Coalition and Global Tobacco, Inc., No. 03-13-00753-CV (August 15, 2014). This was the court’s latest holding to the effect that a trade association can seek declaratory and injunctive relief against a state fee (treated by court and the parties as a “tax”) on behalf of the association’s members that would otherwise be required to pay it. The earlier case that had allowed such a challenge was Texas…
  • ALERT: The Southwest Royalties case has been affirmed on appeal

    Alan E. Sherman
    13 Aug 2014 | 9:00 am
    Today, the Texas Third Court of Appeals at Austin affirmed a closely-watched appeal in which a State District Court denied an oil and gas producer’s claimed sales and use tax exemptions for certain above-ground and below-ground oil and gas production equipment. According to the District Court, as now affirmed on appeal, the equipment was not used “in manufacturing” within the meaning of Tex. Tax Code Ann. §151.318. The case is Southwest Royalties, Inc. v. Combs, et al, Third Court of Appeals No. 03-12-00511-CV. For more details about the case prior to today’s…
 
  • add this feed to my.Alltop

    Roth & Company, P.C

  • Tax Roundup, 3/5/15: More tax credits! Also: ACA on the dock again, and good tax news for gamblers.

    Joe Kristan
    5 Mar 2015 | 6:49 am
    Accounting Today visitors, click here for the frosty Iowa tax climate post, or go here for a longer treatment.   David Brunori has a wise post about Michigan’s disastrous tax credits: Tax Incentives Cause Trouble For More Reasons Than You Might Think (Tax Analysts Blog). “The history of job creation tax credits in Michigan is a story of corporate welfarism.” That’s just as true here in Iowa, where every legislative session seems to bring a new tax credit, to go with the dozens already on the books. From today’s Des Moines Register: New chemical production…
  • Tax Roundup, 3/4/15: Big week for trusts. And: Iowa gets its own tax phone scam!

    Joe Kristan
    4 Mar 2015 | 6:14 am
    Friday is Day 65 of 2015. Though March 6 is just another day to most people, it has always meant something to me (happy birthday, Brother Ed!). It also means something to trustees. The tax law allows trusts to treat distributions made during the first 65 days of the year as having been made in the prior year. This allows complex trusts to control their taxable income with a distribution, because trust distributions carry trust taxable income out of the trust to beneficiary 1040s. This has become more important since the enactment of the Obamacare 3.8% Net Investment Income Tax. This tax hits…
  • Tax Roundup, 3/3/15: ‘Tens of thousands’ of returns delayed by ACA. Also: Feds, Iowa provide partial deadline relief for farmers.

    Joe Kristan
    3 Mar 2015 | 6:24 am
    Taxpayer Advocate Nina Olson Tax season is saved! Tax Analysts reports ($link) that the IRS is sitting on “tens of thousands” of returns affected by the Obamacare advance premium tax credit: Speaking March 2 in Washington at an American Payroll Association event sponsored by Bloomberg BNA, Olson said the returns have been “held for quite a long time, since the beginning of the filing season,” because the IRS is still waiting for matching data from state health insurance exchanges. The returns are being held in suspense and the IRS has instructed its employees not to…
  • Tax Roundup, 3/2/15: Thawing Iowa’s frosty business tax climate. And: film credit post-production!

    Joe Kristan
    2 Mar 2015 | 6:16 am
    Iowa’s business tax climate, illustrated Baby steps towards fixing Iowa’s business tax climate. At IowaBiz.com, the Des Moines Business Record’s Business Professionals’ Blog, I discuss some easy steps to make Iowa’s tax climate a little less frosty, along with a few slightly harder ones. The real easy: – Eliminate the Iowa individual and corporation alternative minimum tax. – Have Iowa’s tax law automatically conform to federal changes. – Tie Iowa return due dates to federal due dates for all returns. The slightly harder:…
  • Tax Roundup, 2/27/15: Bartender beats barrister in Tax Court. And more!

    Joe Kristan
    27 Feb 2015 | 6:46 am
    Bartender or barrister, you need to keep good records.  A Nevada bartender, arguing his own case against an IRS attorney, defeated the IRS in Tax Court yesterday. He did it by keeping records. The IRS said the taxpayer understated his tip income, and it used a generic tip model to assess additional tax. The bartender argued that the IRS model didn’t reflect what happened at the casino where he worked, and that he had the records to prove it: Petitioner testified about how his bar was set up and what a shift was like during the years at issue. He stated that his bar had only six stools…
  • add this feed to my.Alltop

    RUBIN ON TAX

  • Threat of Litigation Eliminates Charitable Set Aside Deduction for Estate

    Charles (Chuck) Rubin
    4 Mar 2015 | 4:42 pm
    Estates and trusts with charitable beneficiaries often seek to employ the Code Section 642(c) charitable set aside deduction for income earned by the estate and trust that will eventually (but not in the current tax year) be distributed to the charity. This deduction is needed when the income cannot be currently distributed, since in that case neither a distribution deduction nor a charitable deduction would otherwise be available. Oftentimes, income cannot be currently distributed because it is too early in the administrative process to distribute to the beneficiary, especially when the…
  • The Timing of E&P to US Parent Corporations of CFCs

    Charles (Chuck) Rubin
    28 Feb 2015 | 10:39 am
    The earnings and profits (E&P) of a corporation dictate the income tax treatment of non-liquidating distributions it makes to its shareholders. Distributions from a corporation to the extent of its current or accumulated E&P are taxable as dividends, which generally results in ordinary income treatment. Other distributions are treated as return of capital, which can result in no taxation or capital gains to the recipient shareholder. Controlled foreign corporations (CFCs) are non-US corporations owned and controlled by US persons, within specific statutory parameters. US shareholders…
  • Hollow Taxpayer Victory When IRS Unlawfully Discloses Taxpayer Information to Japan

    Charles (Chuck) Rubin
    24 Feb 2015 | 3:56 pm
    By law, the U.S. is not permitted to disclose false return information, even if the release of false return information is authorized by law and treaty. Code Section 7431 imposes liability on the U.S. if it discloses return information, the information is false, and the U.S. knew the information was false. A recent case addressed the application of this Code provision in regard to disclosure of return information by the U.S. to Japan. It makes for interesting reading – one doesn’t read too much about Code Section 7431. In the case, the U.S. was found liable for violating Code Section 7431…
  • Applicable Federal Rates–March 2015

    Charles (Chuck) Rubin
    21 Feb 2015 | 6:34 pm
    Follow @crubincrubin
  • Getting to Appeals In an Estate or Gift Tax Audit with Pending Information Requests

    Charles (Chuck) Rubin
    16 Feb 2015 | 1:22 pm
    Ain’t gonna happen! So says the IRS in guidance released by the IRS, at least in most circumstances. In a memo to IRS estate and gift tax examination employees, the IRS advises: If information requested by the IRS in an IDR (Form 4564, Information Document Request) or other correspondence is not provided, the auditor’s group manager will discuss the case with the taxpayer to facilitate receipt of the information. Generally, the case should not be sent to Appeals until the information has been provided. If the requested information is provided, or the taxpayer advises there is no…
  • add this feed to my.Alltop

    Tax Problem Attorney Blog

  • Online Poker Players Beware: Digital Accounts Can Trigger an FBAR obligation

    Dennis N. Brager
    20 Feb 2015 | 9:00 am
    FBAR reporting obligations require a US taxpayer holding $10,000 or more in a foreign financial account, at any moment in time during the tax year, to file a Report of Foreign Bank and Financial Accounts (FBAR). Once this obligation is known, at least in some contexts, the FBAR reporting requirement seems fairly obvious. Funds held in a foreign bank or securities that exceed $10,000 would rather clearly trigger an FBAR filing requirement. However, services provided over the Internet and hybrid services that can be used for multiple purposes can sometimes obscure these distinctions. Such was…
  • Which is worse? A failure to file penalty or a failure to pay penalty?

    Dennis N. Brager
    18 Feb 2015 | 7:00 am
    US citizens, legal permanent residents, and other covered individuals have an obligation to file and pay taxes on all sources of worldwide income. If an individual does not satisfy his or her filing and payment obligations, he or she may be subject to penalties for a failure to pay taxes, the failure to file taxes, or both. While the following article will address a number of the penalties which can apply for non-filed taxes or nonpayment of taxes, this article does not address when civil or criminal fraud penalties could apply. Furthermore, if the failure to file or pay includes the failure…
  • Swiss Bank Credit Suisse Pays $2.6 Billion in Penalties for Aiding Americans in Providing False Tax Information

    Dennis N. Brager
    17 Feb 2015 | 7:00 am
    Zurich, Switzerland-based Credit Suisse is the first global banking organization in more than 10 years to plead guilty to a crime. In May 2014, Credit Suisse pleaded guilty to conspiracy to aid and assist U.S. taxpayers in filing false income tax returns and other documents with the Internal Revenue Service (IRS). Under terms of the plea deal and other agreements with state and federal agencies, Credit Suisse will pay roughly $2.6 billion in penalties. While prosecutors have obtained guilty pleas from subsidiaries of global banking units, the Credit Suisse guilty plea shows that federal…
  • Is there an accountant-client privilege? Why should I work with a tax attorney?

    Dennis N. Brager
    13 Feb 2015 | 6:00 am
    Conversations between a CPA and his or her clients may or may not be shielded from disclosure to third parties. Whether the accountant-client privilege exists is a fact-specific inquiry where the fact that your disclosures may not have been confidential may not emerge until it is already too late. This is chiefly because federal law does not recognize a generalized privilege between accountants and their clients. While a selection of states including Colorado, Missouri and Florida do recognize the privilege, the privilege will only apply in state courts or in federal courts that are applying…
  • Have you received a letter from your foreign bank regarding FATCA?

    Dennis N. Brager
    5 Feb 2015 | 3:30 am
    Since January of 2014, those holding accounts in foreign banks throughout the world have received Foreign Account Tax Compliance Act (FATCA) letters from their financial institutions. These letters are sent to account holders whom the institution believes have a link to the United States that would give rise to tax reporting and payment obligations. These letters will request that the recipient provide information regarding their disclosures, if any, to the Internal Revenue Service (IRS). These disclosures typically include whether certain documents have been filed, including a Report of…
 
  • add this feed to my.Alltop

    Taxable Talk

  • Online Gambling Addresses Updated for 2015

    Russ
    5 Mar 2015 | 8:21 am
    With the United States v. Hom decision, we must again file an FBAR for foreign online gambling sites. An FBAR (Form 114) is required if your aggregate balance exceeds $10,000 at any time during the year. There’s a problem, though. Most of these entities don’t broadcast their addresses. Some individuals sent email inquiries to one of these gambling sites and received politely worded responses (or not so politely worded) that said that it’s none of your business. Well, not fully completing the Form 114 can subject you to a substantial penalty. I’ve been compiling a list…
  • IRS Proposes Session Method for Slot Machine Play and a Revision to the Regulations on Gambling Information Returns

    Russ
    3 Mar 2015 | 8:11 pm
    This morning the IRS proposed a new Revenue Procedure for individual taxpayers to determine wagering (gambling) gains and losses from slot machine play. Additionally, the IRS proposed an update to the regulations on information returns for gambling from slot machines. There’s a lot to like in IRS Notice 2015-21, the IRS’s proposal for a “Safe Harbor Method for Determining a Wagering Gain or Loss from Slot Machine Play.” The proposal is for a daily session for slot machine play where there are electronic records. Let’s say an individual plays slot machines at…
  • Don’t Call Us

    Russ
    2 Mar 2015 | 7:25 pm
    Today I attempted to call the IRS Practitioner Priority Service (PPS). I had an outstanding issue I needed to resolve. I didn’t get through. I’m used to being on hold for two hours when calling the IRS. Unfortunately, the IRS has cut staff in customer service. When I called today I reached the normal recording, but every time I attempted to obtain help for an individual not in collections (that’s one of the options when calling the PPS) all I got was, “Due to extremely high call volumes that option is not available now. Please try your call again later.” Sigh. I…
  • It Was the Sisterly Thing To Do

    Russ
    1 Mar 2015 | 6:58 pm
    Three Wisconsin sisters allegedly decided that tax fraud and identity theft should stay in the family. They’ve been accused of filing 2,000 phony returns by the Wisconsin Department of Revenue. The Staten sisters (Sharon, Tawanda, and Angela) face 22, 28, and 40 felony charges respectively. It appears the investigation began when Angela and an alleged accomplice, Anthony Coleman, were arrested at a traffic stop in East Troy, Wisconsin. The police found a fake income tax return along with other related evidence and forwarded that information to the Department of Revenue. As to the scheme…
  • Correctly Dealing with Tip Income

    Russ
    1 Mar 2015 | 6:24 pm
    Las Vegas is full of service workers, of course. With many of the world’s largest hotels and casinos in Sin City, there’s an army of workers to man the facilities. Last week, the Tax Court looked at a bartender that the IRS thought had unreported tip income. The bartender contended the IRS was drinking something. Who was right? The petitioner did a lot of things right. He reported his tips to his employer, and they were included on his W-2. (The petitioner opted out of an automatic tip compliance program.) He kept meticulous records. Petitioner testified about how his bar was set…
  • add this feed to my.Alltop

    IRS Tax Problem Solver Blog - IRS Help

  • Rick Scott Says He Cut Taxes "More than Forty Times"

    Darrin Mish
    5 Mar 2015 | 4:19 pm
    (www.Politifact.com) – Gov. Rick Scott has been touting his record of tax-cutting for years now, but in his March 3, 2015, State of the State address, he said he’s been pulling out the red pen even more. "We have cut taxes more than 40 times in four years," Scott said during his speech to open the 2015 legislative session. That’s a lot of instances of cutting Floridians’ taxes. Scott said during the 2014 gubernatorial campaign he’d cut taxes 40 times, but the "more" part piqued our interest. But what does Scott consider a tax cut, and how many times has he…
  • Lower House Prices, Higher Tax Rate

    Darrin Mish
    5 Mar 2015 | 4:15 pm
    Call it unfair, call it discriminatory  or whatever, the fact is in Metro Orlando and Florida, buyers of more affordable property pay a higher tax rate.  Home owners with property worth less than $50,000 pay property tax at a rate of 1.35 percent of their home value.  Contrast that to those who owned homes worth between $100,000 and $200,000 who pay only a third of that tax rate. Read more about Florida's Property Tax structure. Lower House Prices, Higher Tax Rate is a post from: IRS Tax Problem Solver Blog - IRS Help The post Lower House Prices, Higher Tax Rate appeared first on…
  • Tax Deductions for Your YouTube Income (and other video income, too)

    Darrin Mish
    5 Mar 2015 | 8:25 am
    YouTube has made it possible for anyone to become a star and earn good money (Remember the Korean guy, Psy?).  So you might very well be one of the many people who earn money through your YouTube channel.  If you earned at least $600 last year, you should be receiving a Form 1099 soon if you have not already.  Look at your earnings as business earnings and your video shooting as a business. So if you have to declare your income and pay tax on it, you should claim for deductions as well.   Here are some of the tax deductions you are entitled to claim for your YouTube and other videos’…
  • A Better World: Good Idea to Lower Cell Phone Taxes

    Darrin Mish
    4 Mar 2015 | 3:29 pm
    (Jacksonville.com) – One of Florida’s most regressive taxes relates to an item that everyone uses these days — the cell phone or the smart phone. The Communications Services Tax levied on cell phones, cable, satellite TV and non-residential landline phones can be as high as 22.6 percent, reports Florida TaxWatch. The tax is a combination of federal, state and varying local taxes. So it is good news that Gov. Rick Scott has proposed reducing the tax as a family friendly move. The state portion would be reduced from 9.17 percent to 4.57 percent. Scott says taxes have been cut more…
  • Florida's Little Black Book of Scams (Tax Scams included)

    Darrin Mish
    4 Mar 2015 | 3:15 pm
    This being National Consumer Protection Week, the Florida Department of Agriculture and Consumer Services has published A Little Black Book of Scams.  This details all sorts of scams prevalent today that plague consumers and how to avoid them.  It covers Charity scams, Lottery and Sweepstakes scams, Internet scams, Telemarketing scams, Emergency scams, Identity theft and of course, Tax scams.  The book also gives information on how you can file a complaint if you fall victim. You can access the Little Black Book of Scams online. Read more about how to avoid all kinds of scams.
  • add this feed to my.Alltop

    IRS Hitman 888-415-1337

  • The Top Five Tax Scams for 2015

    27 Feb 2015 | 9:55 am
    Information is one of the most effective ways to combat tax scams. If taxpayers know the methods tax scammers use to operate, they are less likely to be victimized. In an effort to spread awareness about tax scams, the IRS issues the “Dirty Dozen” tax scams list every year. For 2015, the top 5 tax scams that taxpayers should be aware of are:1. Phone ScamsThe IRS phone scams remains an ongoing threat to taxpayers. This has quickly became one of the biggest tax scams in the country. Scammers make unsolicited phone calls to taxpayers, demanding payment of back taxes. They use intimidation…
  • Why Direct Deposit Should Be Preferred

    20 Feb 2015 | 10:50 am
    More and more taxpayers are using direct deposit to receive their tax refunds. According to the IRS, more than 84 million taxpayers used direct deposit last year as their preferred payment method. Typically, the fastest way to receive your refund is to file your tax return electronically and use direct deposit. The obvious advantage of using direct deposit is that it is fast and secure. That is because your refund is directly deposited into your bank account. In cases of identity theft, scammers can easily get the refund directed to another postal address.With direct deposit, taxpayers do not…
  • Do You Qualify for the Earned Income Tax Credit (EITC)?

    13 Feb 2015 | 9:35 am
    The Earned Income Tax Credit is a refundable tax credit designed to help taxpayers whose income is below $52, 427 per year. In 2014, as many as 28 million taxpayers and families received $66 billion in EITC; the average amount received in EITC was $2,400.To find out if you qualify for the earned income tax credit, you may use the IRS EITC assistance. If you qualify, you can calculate the amount you’re eligible for. This number is based on your income, family size (number of dependents), and filing status. The credit limits for 2014 are:•    $2 to $496 with no qualifying…
  • Deductions You Can Claim This Tax Season

    6 Feb 2015 | 8:28 am
    Tax deductions can ease your liability by reducing the amount of taxable income you have. Though tax deductions can substantially reduce what you owe, you must ensure you’re eligible for those you claim on your tax return. If you have not yet filed your taxes, consider using the following deductions to lower what you owe:Capital LossesYou can deduct any capital losses to help offset your tax liability. The losses that you incurred must be greater than what you gained. If you are married filing separately, you can claim up to $1,500 annually for 2014. For those filing jointly, the limit is…
  • Tax Preparation: Life Events That Impact Your Taxes

    30 Jan 2015 | 7:54 am
    Major errors on a tax return can lead you to have to amend your return or possibly endure an IRS audit. The IRS corrects minor errors such as miscalculations, incorrectly claiming credits, etc. Yet, taxpayers must ensure that their return is accurate so that they may receive any refund on time, and not face delays and difficulties in getting their returns processed. Often, taxpayers do not consider changes in their life such as marriage, birth of a child, or loss of a job and how this affects their taxes. When circumstances changes for taxpayers, they may be entitled to tax credits and…
 
  • add this feed to my.Alltop

    Taxation RSS Feed | JD Supra Law News

  • IRS Releases First Guidance on ACA’s So-Called "Cadillac Tax"

    Proskauer Rose LLP
    5 Mar 2015 | 9:59 am
    Last week, the IRS released Notice 2015-16, in an effort to begin developing regulatory guidance for the Affordable Care Act's excise tax on high-cost health coverage (the "Excise Tax"), which will become effective beginning as early as 2018. The...By: Proskauer Rose LLP
  • Supreme Court Case Does Not Directly Challenge Obamacare, But Could Lead to Its Implosion.

    Parker Poe Adams & Bernstein LLP
    5 Mar 2015 | 9:14 am
    The media coverage in the run-up to today’s Supreme Court oral arguments in King v. Burwell has described King as an attack on Obamacare. That isn’t quite right. Understandably, some of the imprecise language is due to the need to make the “news...By: Parker Poe Adams & Bernstein LLP
  • Threat of Litigation Eliminates Charitable Set Aside Deduction for Estate

    Charles (Chuck) Rubin
    5 Mar 2015 | 8:03 am
    Estates and trusts with charitable beneficiaries often seek to employ the Code Section 642(c) charitable set aside deduction for income earned by the estate and trust that will eventually (but not in the current tax year) be distributed to the...By: Charles (Chuck) Rubin
  • Human Emotional Mistakes A Retirement Plan Provider Should Avoid

    Ary Rosenbaum
    5 Mar 2015 | 7:52 am
    We are all human unless someone of us are cyborgs sent by Cyberdyne Systems in the future. Seriously, humans are controlled by emotions and everyone knows that after going through their teenage years. Human emotion can make us do some great things,...By: Ary Rosenbaum
  • White House Announces Nominations for Treasury, Justice Tax Division

    BuckleySandler LLP
    5 Mar 2015 | 7:27 am
    On February 24, the White House released a number of intended nominations for key Administration posts. Among the anticipated nominations were (i) Amias Gerety as Assistant Secretary for Financial Institutions, Department of the Treasury; and (ii)...By: BuckleySandler LLP
  • add this feed to my.Alltop

  • Ringling Bros. to eliminate iconic act by 2018

    6 Mar 2015 | 1:35 am
    Ringling Bros. to eliminate iconic act by 2018AlamyThe circus announced Thursday that the performance will be phased out over the next few years due to growing public concern.Century-old tradition going awayMore to seeSurprising evolution of moneyHow drinks make you look better
  • Depth of Mark Lippert's injuries come to light

    6 Mar 2015 | 1:35 am
    Depth of Mark Lippert's injuries come to lightAPThe US ambassador received 80 stitches following Thursday's Seoul assault, and officials say the strikes struck deep tendons and nerves.'Problem' he may see for monthsMore newsNet neutrality battle heats upFighting ISIS becomes tricky
  • Prosecution suffers a blow in Hernandez trial

    6 Mar 2015 | 1:35 am
    Prosecution suffers a blow in Hernandez trialAPCounty prosecutors were dealt a significant but expected setback on Wednesday in court.Why the former Pats star and the defense breathed a sign of reliefMore sports coverage'Slim chance' Dallas re-signs starNCAA hoops in need of makeover
  • NYC airport mishap just feet from disaster

    6 Mar 2015 | 1:35 am
    NYC airport mishap just feet from disasterAPSix were hurt Thursday in a scary skidding incident at Laguardia that left the nose of a Delta jet resting at the edge of an icy salt water bay.Unsettling truth re: Laguardia runwaysMore to seePlane aborts takeoff in St. LouisMysterious parking tickets
  • Harrison Ford crashes vintage jet on golf green

    6 Mar 2015 | 1:35 am
    Harrison Ford crashes vintage jet on golf greenGettyThe actor and longtime aviator had just taken off from a nearby airport when he reported that his engine was failing and had to turn back. Latest on his conditionMore in entertainment news'Street Outlaws' driver arrestedMo'Nique speaks out on feud
 
  • add this feed to my.Alltop

  • Ringling Bros. to eliminate iconic act by 2018

    6 Mar 2015 | 1:35 am
    Ringling Bros. to eliminate iconic act by 2018AlamyThe circus announced Thursday that the performance will be phased out over the next few years due to growing public concern.Century-old tradition going awayMore to seeSurprising evolution of moneyHow drinks make you look better
  • Depth of Mark Lippert's injuries come to light

    6 Mar 2015 | 1:35 am
    Depth of Mark Lippert's injuries come to lightAPThe US ambassador received 80 stitches following Thursday's Seoul assault, and officials say the strikes struck deep tendons and nerves.'Problem' he may see for monthsMore newsNet neutrality battle heats upFighting ISIS becomes tricky
  • Prosecution suffers a blow in Hernandez trial

    6 Mar 2015 | 1:35 am
    Prosecution suffers a blow in Hernandez trialAPCounty prosecutors were dealt a significant but expected setback on Wednesday in court.Why the former Pats star and the defense breathed a sign of reliefMore sports coverage'Slim chance' Dallas re-signs starNCAA hoops in need of makeover
  • NYC airport mishap just feet from disaster

    6 Mar 2015 | 1:35 am
    NYC airport mishap just feet from disasterAPSix were hurt Thursday in a scary skidding incident at Laguardia that left the nose of a Delta jet resting at the edge of an icy salt water bay.Unsettling truth re: Laguardia runwaysMore to seePlane aborts takeoff in St. LouisMysterious parking tickets
  • Harrison Ford crashes vintage jet on golf green

    6 Mar 2015 | 1:35 am
    Harrison Ford crashes vintage jet on golf greenGettyThe actor and longtime aviator had just taken off from a nearby airport when he reported that his engine was failing and had to turn back. Latest on his conditionMore in entertainment news'Street Outlaws' driver arrestedMo'Nique speaks out on feud
  • add this feed to my.Alltop

  • Ringling Bros. to eliminate iconic act by 2018

    6 Mar 2015 | 1:35 am
    Ringling Bros. to eliminate iconic act by 2018AlamyThe circus announced Thursday that the performance will be phased out over the next few years due to growing public concern.Century-old tradition going awayMore to seeSurprising evolution of moneyHow drinks make you look better
  • Depth of Mark Lippert's injuries come to light

    6 Mar 2015 | 1:35 am
    Depth of Mark Lippert's injuries come to lightAPThe US ambassador received 80 stitches following Thursday's Seoul assault, and officials say the strikes struck deep tendons and nerves.'Problem' he may see for monthsMore newsNet neutrality battle heats upFighting ISIS becomes tricky
  • Prosecution suffers a blow in Hernandez trial

    6 Mar 2015 | 1:35 am
    Prosecution suffers a blow in Hernandez trialAPCounty prosecutors were dealt a significant but expected setback on Wednesday in court.Why the former Pats star and the defense breathed a sign of reliefMore sports coverage'Slim chance' Dallas re-signs starNCAA hoops in need of makeover
  • NYC airport mishap just feet from disaster

    6 Mar 2015 | 1:35 am
    NYC airport mishap just feet from disasterAPSix were hurt Thursday in a scary skidding incident at Laguardia that left the nose of a Delta jet resting at the edge of an icy salt water bay.Unsettling truth re: Laguardia runwaysMore to seePlane aborts takeoff in St. LouisMysterious parking tickets
  • Harrison Ford crashes vintage jet on golf green

    6 Mar 2015 | 1:35 am
    Harrison Ford crashes vintage jet on golf greenGettyThe actor and longtime aviator had just taken off from a nearby airport when he reported that his engine was failing and had to turn back. Latest on his conditionMore in entertainment news'Street Outlaws' driver arrestedMo'Nique speaks out on feud
  • add this feed to my.Alltop

  • Ringling Bros. to eliminate iconic act by 2018

    6 Mar 2015 | 1:35 am
    Ringling Bros. to eliminate iconic act by 2018AlamyThe circus announced Thursday that the performance will be phased out over the next few years due to growing public concern.Century-old tradition going awayMore to seeSurprising evolution of moneyHow drinks make you look better
  • Depth of Mark Lippert's injuries come to light

    6 Mar 2015 | 1:35 am
    Depth of Mark Lippert's injuries come to lightAPThe US ambassador received 80 stitches following Thursday's Seoul assault, and officials say the strikes struck deep tendons and nerves.'Problem' he may see for monthsMore newsNet neutrality battle heats upFighting ISIS becomes tricky
  • Prosecution suffers a blow in Hernandez trial

    6 Mar 2015 | 1:35 am
    Prosecution suffers a blow in Hernandez trialAPCounty prosecutors were dealt a significant but expected setback on Wednesday in court.Why the former Pats star and the defense breathed a sign of reliefMore sports coverage'Slim chance' Dallas re-signs starNCAA hoops in need of makeover
  • NYC airport mishap just feet from disaster

    6 Mar 2015 | 1:35 am
    NYC airport mishap just feet from disasterAPSix were hurt Thursday in a scary skidding incident at Laguardia that left the nose of a Delta jet resting at the edge of an icy salt water bay.Unsettling truth re: Laguardia runwaysMore to seePlane aborts takeoff in St. LouisMysterious parking tickets
  • Harrison Ford crashes vintage jet on golf green

    6 Mar 2015 | 1:35 am
    Harrison Ford crashes vintage jet on golf greenGettyThe actor and longtime aviator had just taken off from a nearby airport when he reported that his engine was failing and had to turn back. Latest on his conditionMore in entertainment news'Street Outlaws' driver arrestedMo'Nique speaks out on feud
 
  • add this feed to my.Alltop

  • Ringling Bros. to eliminate iconic act by 2018

    6 Mar 2015 | 1:35 am
    Ringling Bros. to eliminate iconic act by 2018AlamyThe circus announced Thursday that the performance will be phased out over the next few years due to growing public concern.Century-old tradition going awayMore to seeSurprising evolution of moneyHow drinks make you look better
  • Depth of Mark Lippert's injuries come to light

    6 Mar 2015 | 1:35 am
    Depth of Mark Lippert's injuries come to lightAPThe US ambassador received 80 stitches following Thursday's Seoul assault, and officials say the strikes struck deep tendons and nerves.'Problem' he may see for monthsMore newsNet neutrality battle heats upFighting ISIS becomes tricky
  • Prosecution suffers a blow in Hernandez trial

    6 Mar 2015 | 1:35 am
    Prosecution suffers a blow in Hernandez trialAPCounty prosecutors were dealt a significant but expected setback on Wednesday in court.Why the former Pats star and the defense breathed a sign of reliefMore sports coverage'Slim chance' Dallas re-signs starNCAA hoops in need of makeover
  • NYC airport mishap just feet from disaster

    6 Mar 2015 | 1:35 am
    NYC airport mishap just feet from disasterAPSix were hurt Thursday in a scary skidding incident at Laguardia that left the nose of a Delta jet resting at the edge of an icy salt water bay.Unsettling truth re: Laguardia runwaysMore to seePlane aborts takeoff in St. LouisMysterious parking tickets
  • Harrison Ford crashes vintage jet on golf green

    6 Mar 2015 | 1:35 am
    Harrison Ford crashes vintage jet on golf greenGettyThe actor and longtime aviator had just taken off from a nearby airport when he reported that his engine was failing and had to turn back. Latest on his conditionMore in entertainment news'Street Outlaws' driver arrestedMo'Nique speaks out on feud
  • add this feed to my.Alltop

  • Ringling Bros. to eliminate iconic act by 2018

    6 Mar 2015 | 1:35 am
    Ringling Bros. to eliminate iconic act by 2018AlamyThe circus announced Thursday that the performance will be phased out over the next few years due to growing public concern.Century-old tradition going awayMore to seeSurprising evolution of moneyHow drinks make you look better
  • Depth of Mark Lippert's injuries come to light

    6 Mar 2015 | 1:35 am
    Depth of Mark Lippert's injuries come to lightAPThe US ambassador received 80 stitches following Thursday's Seoul assault, and officials say the strikes struck deep tendons and nerves.'Problem' he may see for monthsMore newsNet neutrality battle heats upFighting ISIS becomes tricky
  • Prosecution suffers a blow in Hernandez trial

    6 Mar 2015 | 1:35 am
    Prosecution suffers a blow in Hernandez trialAPCounty prosecutors were dealt a significant but expected setback on Wednesday in court.Why the former Pats star and the defense breathed a sign of reliefMore sports coverage'Slim chance' Dallas re-signs starNCAA hoops in need of makeover
  • NYC airport mishap just feet from disaster

    6 Mar 2015 | 1:35 am
    NYC airport mishap just feet from disasterAPSix were hurt Thursday in a scary skidding incident at Laguardia that left the nose of a Delta jet resting at the edge of an icy salt water bay.Unsettling truth re: Laguardia runwaysMore to seePlane aborts takeoff in St. LouisMysterious parking tickets
  • Harrison Ford crashes vintage jet on golf green

    6 Mar 2015 | 1:35 am
    Harrison Ford crashes vintage jet on golf greenGettyThe actor and longtime aviator had just taken off from a nearby airport when he reported that his engine was failing and had to turn back. Latest on his conditionMore in entertainment news'Street Outlaws' driver arrestedMo'Nique speaks out on feud
  • add this feed to my.Alltop

  • Ringling Bros. to eliminate iconic act by 2018

    6 Mar 2015 | 1:35 am
    Ringling Bros. to eliminate iconic act by 2018AlamyThe circus announced Thursday that the performance will be phased out over the next few years due to growing public concern.Century-old tradition going awayMore to seeSurprising evolution of moneyHow drinks make you look better
  • Depth of Mark Lippert's injuries come to light

    6 Mar 2015 | 1:35 am
    Depth of Mark Lippert's injuries come to lightAPThe US ambassador received 80 stitches following Thursday's Seoul assault, and officials say the strikes struck deep tendons and nerves.'Problem' he may see for monthsMore newsNet neutrality battle heats upFighting ISIS becomes tricky
  • Prosecution suffers a blow in Hernandez trial

    6 Mar 2015 | 1:35 am
    Prosecution suffers a blow in Hernandez trialAPCounty prosecutors were dealt a significant but expected setback on Wednesday in court.Why the former Pats star and the defense breathed a sign of reliefMore sports coverage'Slim chance' Dallas re-signs starNCAA hoops in need of makeover
  • NYC airport mishap just feet from disaster

    6 Mar 2015 | 1:35 am
    NYC airport mishap just feet from disasterAPSix were hurt Thursday in a scary skidding incident at Laguardia that left the nose of a Delta jet resting at the edge of an icy salt water bay.Unsettling truth re: Laguardia runwaysMore to seePlane aborts takeoff in St. LouisMysterious parking tickets
  • Harrison Ford crashes vintage jet on golf green

    6 Mar 2015 | 1:35 am
    Harrison Ford crashes vintage jet on golf greenGettyThe actor and longtime aviator had just taken off from a nearby airport when he reported that his engine was failing and had to turn back. Latest on his conditionMore in entertainment news'Street Outlaws' driver arrestedMo'Nique speaks out on feud
 
  • add this feed to my.Alltop

  • Ringling Bros. to eliminate iconic act by 2018

    6 Mar 2015 | 1:35 am
    Ringling Bros. to eliminate iconic act by 2018AlamyThe circus announced Thursday that the performance will be phased out over the next few years due to growing public concern.Century-old tradition going awayMore to seeSurprising evolution of moneyHow drinks make you look better
  • Depth of Mark Lippert's injuries come to light

    6 Mar 2015 | 1:35 am
    Depth of Mark Lippert's injuries come to lightAPThe US ambassador received 80 stitches following Thursday's Seoul assault, and officials say the strikes struck deep tendons and nerves.'Problem' he may see for monthsMore newsNet neutrality battle heats upFighting ISIS becomes tricky
  • Prosecution suffers a blow in Hernandez trial

    6 Mar 2015 | 1:35 am
    Prosecution suffers a blow in Hernandez trialAPCounty prosecutors were dealt a significant but expected setback on Wednesday in court.Why the former Pats star and the defense breathed a sign of reliefMore sports coverage'Slim chance' Dallas re-signs starNCAA hoops in need of makeover
  • NYC airport mishap just feet from disaster

    6 Mar 2015 | 1:35 am
    NYC airport mishap just feet from disasterAPSix were hurt Thursday in a scary skidding incident at Laguardia that left the nose of a Delta jet resting at the edge of an icy salt water bay.Unsettling truth re: Laguardia runwaysMore to seePlane aborts takeoff in St. LouisMysterious parking tickets
  • Harrison Ford crashes vintage jet on golf green

    6 Mar 2015 | 1:35 am
    Harrison Ford crashes vintage jet on golf greenGettyThe actor and longtime aviator had just taken off from a nearby airport when he reported that his engine was failing and had to turn back. Latest on his conditionMore in entertainment news'Street Outlaws' driver arrestedMo'Nique speaks out on feud
  • add this feed to my.Alltop

  • Ringling Bros. to eliminate iconic act by 2018

    6 Mar 2015 | 1:35 am
    Ringling Bros. to eliminate iconic act by 2018AlamyThe circus announced Thursday that the performance will be phased out over the next few years due to growing public concern.Century-old tradition going awayMore to seeSurprising evolution of moneyHow drinks make you look better
  • Depth of Mark Lippert's injuries come to light

    6 Mar 2015 | 1:35 am
    Depth of Mark Lippert's injuries come to lightAPThe US ambassador received 80 stitches following Thursday's Seoul assault, and officials say the strikes struck deep tendons and nerves.'Problem' he may see for monthsMore newsNet neutrality battle heats upFighting ISIS becomes tricky
  • Prosecution suffers a blow in Hernandez trial

    6 Mar 2015 | 1:35 am
    Prosecution suffers a blow in Hernandez trialAPCounty prosecutors were dealt a significant but expected setback on Wednesday in court.Why the former Pats star and the defense breathed a sign of reliefMore sports coverage'Slim chance' Dallas re-signs starNCAA hoops in need of makeover
  • NYC airport mishap just feet from disaster

    6 Mar 2015 | 1:35 am
    NYC airport mishap just feet from disasterAPSix were hurt Thursday in a scary skidding incident at Laguardia that left the nose of a Delta jet resting at the edge of an icy salt water bay.Unsettling truth re: Laguardia runwaysMore to seePlane aborts takeoff in St. LouisMysterious parking tickets
  • Harrison Ford crashes vintage jet on golf green

    6 Mar 2015 | 1:35 am
    Harrison Ford crashes vintage jet on golf greenGettyThe actor and longtime aviator had just taken off from a nearby airport when he reported that his engine was failing and had to turn back. Latest on his conditionMore in entertainment news'Street Outlaws' driver arrestedMo'Nique speaks out on feud
 
  • add this feed to my.Alltop

    Value Added Tax Blog

  • EY: 2015 country summaries

    Mark
    5 Mar 2015 | 5:55 am
    EY published a bulky overview with VAT changes, by country. Claudio Fischer from EY Zurich wrote an interesting editorial with an unsurprising tag line: “Ignoring recent developments in indirect taxes or not being compliant with indirect tax obligations has definitely become an expensive oversight for companies of all sizes, whether they are active in the […]
  • ECJ: No reduced VAT rate on e-books

    Mark
    5 Mar 2015 | 5:38 am
    “Courts don’t make laws” is a pretty strict rule that applies in most countries. The role of justices is limited to explaining existing laws – this separation of powers between the legislative function and the judicial function of a government (championed by Montesquieu in the mid-18th century) applies in most developed jurisdictions. So once again the European […]
  • Imports in Spain

    Mark
    4 Mar 2015 | 7:59 am
    Are you importing goods into Spain as a non-resident? From January 1, 2016 your customs rep won’t be able to claim import VAT on your behalf. See the news item here: http://www.vatassociation.org/vat-news/news-from-iva-members/137-import-vat-in-spain-no-longer-refundable-to-customs-representatives. As a result, you should start the process of VAT registration in Spain (which is a pain as a non-resident – US companies need a local agent), get […]
  • Get ready for SAF-T

    Mark
    2 Mar 2015 | 6:24 am
    SAF-T (Standard Audit File for Tax) is slowly but surely finding its way to tax authorities. This is a standardized communication between taxpayers and authorities. Initially this was limited to the submission of tax returns (and accessory filings, like the EU sales listings), but authorities increasingly use this standard for broader audit requirements, like submission of […]
  • VAT on warranties?

    Mark
    26 Feb 2015 | 12:21 pm
    Here is a great example of a very practical, day-to-day VAT question that is going to be decided by the European Court of Justice (ECJ). In my previous post I noted that rulings of the ECJ are often predictable. The discussion here is not yet about a ruling, but rather an opinion (a draft ruling) by […]
  • add this feed to my.Alltop

    J. Stefan - EzineArticles Expert Author

  • No Articles Found

    6 Mar 2015 | 2:42 am
    No articles were found for the Author that was requested. This may mean that the author has no articles that are live on the site or that there may be a misspelling in the requested file. Please check the file name and try again. If you continue to have issues, please contact EzineArticles Support at http://www.ezinearticles.com/contact.html.
  • add this feed to my.Alltop

    The Dinesen Tax Times by Jason T. Dinesen, LPA, E.A.

  • Is Chamber of Commerce Membership Worth It?

    Jason Dinesen
    4 Mar 2015 | 4:30 am
    Image courtesy of user Geralt on pixabay.com I was struggling this year with whether or not to renew my dues to the local chamber of commerce. Everywhere I’ve been, I’ve been a chamber supporter. In a prior life in a different town and different career, I served on the board of directors of the local chamber. A common question small business owners — including me — face is whether a chamber membership is worth it. From my days on a chamber board of directors, the standard answer that chambers give is: you get out of it what you put into it. In other words, if you are…
  • Financing a Small Business, Part 3 of 5: Tell Your Accountant Before You Spend the Money

    Jason Dinesen
    2 Mar 2015 | 4:30 am
    In February of 2014, I wrote a blog post titled “Financing a Small Business: 4 Items to Remember.” Over the next few weeks I’m going to expand on the 4 things from that post, plus a bonus 5th item that came to me later. —– Today is Part 3: Tell Your Accountant About Major Expenditures Before You Spend the Money This isn’t so much a matter of getting “permission” from your accountant, but rather, verifying the tax consequences and best structure for major transactions. Example: I once worked with a small business client that had spent thousands of dollars constructing a…
  • What to Do with a K-1 with a Fiscal Year End

    Jason Dinesen
    26 Feb 2015 | 4:30 am
    Question: I received a K-1 from a partnership I’m invested in. Their fiscal year-end is September 30th. The K-1 for the year ended September 30, 2014 shows that it’s a 2013 K-1. I received the K-1 in 2015. What year do I report this K-1? Answer: for taxpayers receiving a Form K-1, the information is reported based on the fiscal year-end. In this example, the information would be reported on the taxpayer’s 2014 tax return because the K-1 relates to the year ended September 30, 2014. The fact that the form says it’s a 2013 form is relevant on the partnership side (the…
  • Is Iowa Filing Status Tied to Federal Filing Status When You’re Married?

    Jason Dinesen
    24 Feb 2015 | 4:30 am
    Image courtesy of user Nemo on Pixabay.com Question: if my spouse and I file our federal tax return as married filing jointly, can we file separately in Iowa? What about filing separately on the federal return but jointly in Iowa? Answer: the short answer is yes, this is okay but with a few catches. Iowa Filing Statuses Iowa offers three filing statuses for married couples: Married filing jointly Married filing separately on a combined return Married filing separately on separate returns I’ve written about this before so won’t go into more details here. A married couple can…
  • Tips For Financing a Small Business: Part 2 of 5 — Use Your Accountant as a Resource

    Jason Dinesen
    20 Feb 2015 | 4:30 am
    In February of 2014, I wrote a blog post titled “Financing a Small Business: 4 Items to Remember.” Over the next few weeks I’m going to expand on the 4 things from that post, plus a bonus 5th item that came to me later. Today is Part 2: Work with Your Accountant Good accountants and tax preparers can be excellent resources for business owners. I know good bankers, attorneys, investment advisors and insurance agents that I can refer the owner too. (I also know some “not good” bankers, attorneys, investment advisors and insurance agents that I can steer you clear of.) Most people…
 
  • add this feed to my.Alltop

    Tax Calculation

  • Mechanism of calculating a property tax

    Tax Manager
    4 Mar 2015 | 12:21 am
    There are millions of homeowners who deal with property taxes every year. Property taxes are the taxes which are analysed by the local municipalities in order to raise the revenue of a city or a town. These taxes are usually levied on any piece of privately owned real estate and empty plots for houses based on the estimated value of the property. These taxes can also be levied on possessions like cars. Property tax is also called as House Tax or Millage Tax. When it comes to real estate, the amount of the tax is based on the value of the land. Thus, to higher be the value of the land higher…
  • Kids Learn About Money From Their Parents

    Tax Manager
    17 Dec 2013 | 3:22 am
    In almost all areas of life, your children are going to learn from you, and this certainly extends to the choices that you make with your money. Much of what they learn could be completely unintended; you may not sit down with them and tell them how to manage their own funds, but you can be sure that they will be watching you and absorbing everything. As a parent, this puts a great amount of responsibility on you since your children could mirror your choices, both those that are good and those that are not, in the future. Children are More Aware Now Than in the Past Some studies have even…
  • Tax Prep Business – How Valuable can be it this season?

    Tax Manager
    16 Dec 2013 | 2:46 am
    Income tax is a burden on personal finance. It takes hard work to earn income and if tax is deducted every month it remains very little in hand to live happily. In addition to that if one has a lower income and to enjoy a tax refund it comes at the end of the year once return is filed and till that time one has to live without cash. Those who need quick cash out of their income tax refund can take the help of the Tax preparation firms. In exchange of their services they charge a certain percentage of fees. One of the paid services these tax preparation firms provide is Refund Application Loan…
  • Debt Relief – How Government Tax Breaks Help Consumers For Reducing Debt

    Tax Manager
    16 Dec 2013 | 2:38 am
    Debt relief has become the most talked about topics in the recent times. The economic recession has seen the most stable companies fighting to keep themselves operational. There have been massive job cuts across the globe and this has their effect on the personal lives of the people. Individuals are finding it difficult to continue living in the way they used to lead before the recession. Cash flow has seen a serious beating and people are suffering under great pressure to keep their finances in tact. Everyone is it the top shots or the common man is finding it difficult to deal with the…
  • New Tax on Foreign Property Investors?

    Tax Manager
    15 Nov 2013 | 12:23 am
    Buying a house and dealing with estate agents is stressful at the best of times. Everybody has heard a horror story or two about a friend of a friend who ended up having to shell out ridiculous amounts of fees in order to secure their new property. Many Britons in more affluent areas are being priced out of the market in the area which they grew up due to the demand for property and housing from foreign investors. However, hot on the heels of the news that house prices are currently rising at the fastest pace in over three years, reports that the government is considering whether to slap…
  • add this feed to my.Alltop

    IncomeTaxReturnIndia.com

  • Budget Speech 2015 by Arun Jaitley Finance Minister

    Tax Dost
    28 Feb 2015 | 1:03 am
      February 28, 2015 Madam Speaker, I rise to present the Budget of the Union for the year 2015-16. 2.       I present this Budget in an economic environment which is far more positive than in the recent past. When other economies are facing serious challenges, India is … Continue reading →
  • Income Tax Rates for current year 2015-2016 (Assessment year 2016-2017)

    Tax Dost
    27 Feb 2015 | 11:33 pm
    Income Tax Rates for Assessment year 2016-2017: Income Tax Rates/Slab for Assessment Year 2016-17  Rates/ %age Up to 2,50,000 Up to 2,50,000 (for women) Up to 3,00,000 (for resident individual of 60 years till 80 years) Nil 250,001 – 5,00,000 Up to 500,000 (for resident individual of 80 years and … Continue reading →
  • Budget 2015 updates

    Tax Dost
    27 Feb 2015 | 10:18 pm
      India Budget updates: Jan Dhan Yojana, coal auctions and Swachch Bharat our achievements: FM Proposal to allocate Rs 34600 cr for MNRGA FM: We will finish the journey to 3% fiscal deficit in two years TO MERGE FMC & SEBI: FM Extra Rs 1000 crore to Nirbhaya Fund Visa … Continue reading →
  • Rail Budget 2015 Highlights

    Tax Dost
    25 Feb 2015 | 11:38 pm
    Key highlights of Suresh Prabhu’s First Railway Budget 2015: No increase in rail fares Railways to raise reserved ticket booking window to 120 days vs 60 days now Presenting his maiden Railway Budget, Rail Minister Suresh Prabhu on Thursday announced a 24*7 helpline for Indian Railways. An all India 24*7 … Continue reading →
  • Sukanya Samriddhi Account for Minor Girl Child

    Tax Dost
    22 Jan 2015 | 11:15 pm
    In compliance of announcement by Finance Minister in his Budget Speech 2014-15 the Government of India has introduced a new scheme named “Sukanya Samridhhi Account” vide Notification No.GSR No.863(E), dated 2nd December, 2014. It has been decided to allow 9.1% rate of interest on investments in the scheme during the … Continue reading →
  • add this feed to my.Alltop

    Tax Lien Certificates - Smart Investing

  • Tax Lien Certificates – Predictable, Certain, And Secure

    eluke
    14 Feb 2015 | 11:14 pm
    9EBKJS9FRSWX  Hоw wоuld уоu lіkе tо find оut аbоut аn investment vehicle thаt іѕ nоt affected bу thе topsy-turvy nature оf thе stock market? Hоw wоuld уоu lіkе tо knоw аbоut а method оf investing thаt locks іn уоur rate … Continue reading → The post Tax Lien Certificates – Predictable, Certain, And Secure appeared first on Tax Lien Certificates - Smart Investing.
  • Tax Liens – Frequently Asked Questions

    eluke
    16 Jan 2015 | 4:47 pm
    I frequently received many questions regarding both tax lien and tax deed investing. Many are from investors that are just starting out in the field but, some are from individuals that already have a few deals under their belt. From … Continue reading → The post Tax Liens – Frequently Asked Questions appeared first on Tax Lien Certificates - Smart Investing.
  • Tax Lien Sales – Who Can Invest?

    eluke
    18 Dec 2014 | 10:00 pm
    Thіѕ ѕееmѕ tо bе оnе оf thе mоrе popular questions asked? Thе answer іѕ аlmоѕt everyone can participate in Tax Lien Sales. However, thеrе аrе ѕоmе exceptions. Fоr example, county employees аnd аn individual owing delinquent property taxes іn thе … Continue reading → The post Tax Lien Sales – Who Can Invest? appeared first on Tax Lien Certificates - Smart Investing.
  • Tax Lien Sale Investments Can Provide High Rates of Return

    eluke
    3 Oct 2014 | 5:23 am
    Wіth lаrgе numbеrѕ оf Amеrісаnѕ nоw lооkіng fоr ѕаfеr іnvеѕtmеntѕ fоr thеіr lоng tеrm wеаlth buіldіng рrоgrаmѕ. Mоѕt wаnt hіghеr rеturnѕ thаn thеу саn gеt frоm рuttіng thеіr hаrd еаrnеd mоnеу іntо Bаnk CD’ѕ, mаnу аrе ѕееkіng іnfоrmаtіоn аbоut a … Continue reading → The post Tax Lien Sale Investments Can Provide High Rates of Return appeared first on Tax Lien Certificates - Smart Investing.
  • Tax Deed Investing

    eluke
    18 May 2014 | 8:17 am
    If you’re looking to invest in real estate, Tax Deed Investing may be of interest to you. With just a little knowledge and some due diligence, it really is quite possible to get homes for as little as ten to … Continue reading → The post Tax Deed Investing appeared first on Tax Lien Certificates - Smart Investing.
 
  • add this feed to my.Alltop

    Tax Law Blog

  • Pre-Trial Conferences in Tax Litigation

    Bill Hartsock
    28 Feb 2015 | 11:25 am
    Although pre-trial conferences are not a typical occurrence in tax litigation, the Tax Court will occasionally allow them to take place to address intractable disputes between the parties. In tax litigation, it is generally the responsibility of the parties to develop the case from pre-trial work through trial, but when disputes arise, the parties can request the Tax Court to officiate over a pre-trial conference.Tags: Tax Litigation Information and AdviceRead more about Pre-Trial Conferences in Tax Litigation
  • Preparing for a Tax Court Trial

    Bill Hartsock
    24 Feb 2015 | 2:54 pm
    When your case is set for trial in the tax court, you will generally receive notice approximately five months prior to the trial date. The Tax Court provides ample notice to litigants so that they are able to pursue out-of-court settlements if they wish.Tags: Tax Litigation Information and AdviceRead more about Preparing for a Tax Court Trial
  • What to Expect at a Tax Court Trial

    Bill Hartsock
    20 Feb 2015 | 1:41 pm
    If you are preparing for a Tax Court trial, you likely have many questions regarding what to expect. On the first day of your trial, the Tax Court trial clerk will announce the calendar call, which announces the name of each case that has not settled. At this time, the taxpayer and his or her counsel should be prepared to come forward when called by the trial clerk and announce his or her name to the Tax Court judge.Tags: Tax Litigation Information and AdviceRead more about What to Expect at a Tax Court Trial
  • How to deal with the DOJ Tax Division on your Criminal Tax Case

    Bill Hartsock
    16 Feb 2015 | 1:27 pm
    The Department of Justice Criminal Tax Division has the ultimate authority to review and prosecute criminal tax cases. If you are subject to a criminal tax investigation or prosecution, it will likely be headed by the DOJ. The department has the power to authorize or decline criminal prosecutions, take action in response to Criminal Investigation Division or U.S. Attorney Grand Jury requests, and to oversee tax matters involving Tax Division directives.Tags: IRS Tax Fraud Information & Advice From The Tax LawyerRead more about How to deal with the DOJ Tax Division on your Criminal…
  • Alternatives To Litigation in Tax Dispute Resolution

    Bill Hartsock
    10 Feb 2015 | 10:16 am
    Cases in Tax Court can sometimes be settled through a binding arbitration process or other alternative dispute resolution methods rather than tax court litigation. Under Tax Court Rule 124, parties to a Tax Court dispute can jointly agree to submit the matter to binding arbitration, as long as the case has not proceeded to trial yet. Other alternative dispute resolution methods, including mediation, can also be employed in Tax Court.Tags: Tax Litigation Information and AdviceRead more about Alternatives To Litigation in Tax Dispute Resolution
  • add this feed to my.Alltop

    Bankrate.com » Taxes

  • Big businesses, zero taxes

    Kay Bell
    5 Mar 2015 | 11:30 am
    A recent look at profitable big businesses found 11 companies that paid no U.S. taxes in 2014. This is one reason why we're likely to see corporate tax reform soon.
  • Tax laws by executive order?

    Kay Bell
    4 Mar 2015 | 9:44 am
    Congress can't seem to agree on much nowadays, so one senator is proposing tax law changes by White House executive order. That's not a good idea.
  • 529 college plan expansion passes House

    Kay Bell
    26 Feb 2015 | 7:18 am
    A White House idea to end tax-free 529 benefits resulted in a 180, with passage of a House bill to expand the college savings option.
  • Free state tax filing with MyFreeTaxes

    Kay Bell
    24 Feb 2015 | 10:50 am
    State taxes are a complication and cost for millions of U.S. taxpayers. MyFreeTaxes offers online and in-person help at no cost.
  • Lawsuit challenges IRS Social Security offsets

    Kay Bell
    19 Feb 2015 | 10:41 am
    Taking tax refund money to pay what a filer owes another government agency is not unusual. A federal lawsuit, however, says the Social Security Administration went too far.
  • add this feed to my.Alltop

    Sales Use Tax

  • Click-Through Nexus: Michigan & Illinois Join Amazon Party

    Jerry Donnini
    23 Feb 2015 | 8:50 am
    Although nexus sounds like a terrible disease it is just means connection or link. If a company has enough of a connection or link to a state, then the state can force a company to abide by its laws. From … Continue reading →
  • State Nexus Policies: Can Out-of-State Servers Create Nexus?

    Jerry Donnini
    28 Jan 2015 | 9:23 am
    As technology continues to change, so does the moving target as to what exactly gives a company nexus within a particular jurisdiction. Although there was no significant change in federal legislation or new Supreme Court cases interpreting nexus, states continue … Continue reading →
  • Dropship Exemption Certificates: The 6 “Most Restrictive” States

    Michael J. Fleming
    13 Jan 2015 | 9:08 am
    In my last post about dropshipping and exemption certificates, we ended by saying we would move on to some state specific guidelines in the next post. Today we will be looking at the first group of states I would like … Continue reading →
  • Marketplace Fairness Solution? Would Europe’s Destination VAT Help?

    Annette Nellen
    5 Jan 2015 | 10:27 am
    On January 1, 2015, the European Union’s new scheme for imposing VAT on digital goods and e-services goes into effect. The major change is that all vendors need to use destination sourcing. Prior to that, a vendor in the EU … Continue reading →
  • Sales Tax and Bitcoin (or Other Virtual Currency)

    Annette Nellen
    19 Dec 2014 | 10:01 am
    New types of transactions often challenge existing rules designed without such transactions in mind. The use of virtual currency, such as bitcoin, may be another example. The IRS has proclaimed that convertible virtual currency should be treated as property for … Continue reading →
 
  • add this feed to my.Alltop

    US Tax Program

  • Leap in Net Profit 2014 at BKB, Less Weight from US Tax-Related Issues

    admin
    5 Mar 2015 | 2:03 am
    In a statement released today, the Basler Kantonal Bank (BKB) announced a jump of more than 65% in its profit. BKB explains the strong rebound by the fact that the 2013 performance was weighted down by various charges, in particular those relating to the US tax dispute. The provision was kept unchanged at CHF 109m. For the record, BKB is a Category 1 bank, i.e. the banks that were already under investigation by the US Department of Justice (DoJ) at the time of the publication of the US Program on August 29, 2013. They are excluded from the Program and will have to provide individual delivery…
  • 4 Mar 2015 | 4:56 am

    admin
    4 Mar 2015 | 4:56 am
    The Us tax settlement with Swiss banks in the US Tax Program seemed to have come to a standstill last year when lawyers of around 70 banks wrote to the US Justice Department (DoJ). The lawyers were protesting against some of the language that the DoJ had included in a model version of the Non-Prosecution Agreement (NPA) the banks needs to sign, in particular, against language that would have given the DoJ the ability to share the banks’ data with unspecified foreign authorities, and against a requirement that the banks cooperate with foreign law enforcement agencies. The revised NPA sets a…
  • New Reasons Prompting Swiss Banks to Drop out of the US Tax Program

    admin
    2 Mar 2015 | 1:17 am
    It is important to note that the agreed US Tax Program contains nothing about the possible withdrawal of a participant. Hence leaving the US Tax Program plunges the banks that recently chose this option into an unknown world and unstructured process. The banks could then be assimilated to what is referred to as ‘Category 1′ banks, i.e. the banks that were already under investigation by the US Department of Justice (DoJ) at the time of the publication of the US Tax Program August 29, 2013. They are excluded from the Program and have to provide individual delivery of US requested…
  • Hapoalim and Mizrahi Tefahot Asked to Make Provisions for a Possible Tax Settlemen

    admin
    25 Feb 2015 | 8:58 pm
    According to Reuters, a radio in Israel –the Army radio- reported that ‘Israel regulator seek bank provisions to cover possible tax settlements. The concerned institutions are Hapoalim, Israel’s largest bank, and Mizrahi Tefahot, the fourth biggest. They all declined to comment. In December 2014, Leumi, another Israeli bank, agreed to pay fines of $400m to settle investigations into whether it helped its wealthy Americans evade taxes.
  • EFG Profit Was Adversely Affected by Legal Charges but Lower Penalty Is Expected in the US Tax Settlement

    admin
    25 Feb 2015 | 1:04 am
    While announcing its full year 2014 profit, EFG said that its profit was adversely affected by exceptional legal and professional charges and provisions. The bank reported a hit of  CHF 30.0 million in relation to the US Tax Program. ‘Good progress was made with account remediation during the third quarter, which will likely reduce the final penalty (now expected to be circa CHF 10.8 million, compared with CHF 21.4 million provided for during the first half of 2014), although legal and professional expenses will be higher as a result of the process taking longer than anticipated’…
Log in