Taxes

  • Most Topular Stories

  • THIS JUST IN - SOCIAL SECURITY COLA INCREASE FOR 2015

    THE WANDERING TAX PRO
    22 Oct 2014 | 6:40 am
    According to the Social Security Administration the monthly Social Security and Supplemental Security Income (SSI) benefits will increase by 1.7%effective January 2015. The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determined by the Department of Labor’s Bureau of Labor Statistics.The monthly Medicare Part B premium will remain $104.90 for 2015.  Higher income beneficiaries will pay a higher premium in 2015 based on 2013 AGI plus tax-exempt municipal bond income.     If your yearly income in 2013 (for what you pay in 2015)…
  • Tax Complications Often Mask Tax Breaks

    MauledAgain
    James Edward Maule
    22 Oct 2014 | 5:01 am
    On Monday, a reader of the Albuquerque Journal sent an inquiry to a columnist who carefully answered the question. The reader wanted to know why it would be better to make a charitable donation of stock rather than a donation of cash in the same amount as the value of the stock. The reader pointed out that, whichever choice was made, the charitable contribution deduction would be the same. The columnist explained that there was a big difference. By donating the stock, the reader avoids paying the capital gains tax that would be due if the reader sold the stock and donated cash proceeds.The…
  • Some retirement plan contribution, AGI limits go up in 2015

    Don't Mess With Taxes
    skbell1
    23 Oct 2014 | 4:27 pm
    The key to a comfortable retirement is saving now. The tax code helps by offering tax breaks for a variety of retirement savings plans. Even better, every year the Internal Revenue Service looks at inflation and decides whether the tax limits, both on contributions and income levels that affect some plans, need to be tweaked. For the coming 2015 tax year, the IRS announced today, Oct. 23, that many of the pension plan limitations will change. Others, however, will remain unchanged because the increase in the cost-of-living index didn't meet the statutory thresholds that trigger their…
  • Tax-News.com: Mining Firms Urge Cuts In Zambia's New Royalty Rates

    Tax-News.Com Live Tax Headlines
    24 Oct 2014 | 5:02 am
    Tax-News.com: The increased mining tax framework included in Zambia's 2015 Budget earlier this month has been subject to criticism as, according to the Chamber of Mines of Zambia, it will reduce the country's attraction for mining investment and reduce employment.
  • Options to reduce the 10-Percent Individual Income Tax Rate, Increase the Standard Deduction and Reform the EITC

    Tax Policy Center: The Numbers
    1 Oct 2014 | 10:00 pm
    This set of estimates consists of the following related tables: (T14-0113) Options to Reduce the 10-Percent Individual Income Tax Rate, Increase the Standard Deduction and Reform the EITC, Impact on Tax Revenue ($ billions), 2015-24, Baseline: Current Law
  • add this feed to my.Alltop

    Don't Mess With Taxes

  • Some retirement plan contribution, AGI limits go up in 2015

    skbell1
    23 Oct 2014 | 4:27 pm
    The key to a comfortable retirement is saving now. The tax code helps by offering tax breaks for a variety of retirement savings plans. Even better, every year the Internal Revenue Service looks at inflation and decides whether the tax limits, both on contributions and income levels that affect some plans, need to be tweaked. For the coming 2015 tax year, the IRS announced today, Oct. 23, that many of the pension plan limitations will change. Others, however, will remain unchanged because the increase in the cost-of-living index didn't meet the statutory thresholds that trigger their…
  • House a wreck? Move! But you can't deduct it on your taxes

    skbell1
    22 Oct 2014 | 9:41 am
    Even in drought-stricken Texas, the phrase "when it rains, it pours" is true. Except in our case, it's not precipitation that's piling on; it's home repair and maintenance issues. Back in August, the main spring on the hubby's garage door decided to snap. A few weeks later our kitchen faucet needed to be replaced. That's the shiny new one there to the right. This week, painters are working on our home's trim. The stucco portion of the house is on repaint hold while we look for someone to repair a gable vent. Then we'll get that area painted, after…
  • NY tax scammers copying fake IRS tax call template

    skbell1
    21 Oct 2014 | 1:27 pm
    When it comes to crime, imitation is the easiest way to get quick ill-gotten gains. Take, for example, the latest tax scam causing problems for some New Yorkers. State tax officials say scammers who claim to work for an attorney are calling New York taxpayers and offering to help them settle their outstanding state tax debts. More like helping to put honest taxpayer money into crooks' pockets. Sound familiar? For months, con artists pretending to be Internal Revenue Agents have been calling folks nationwide, demanding money the callers say the call recipients owe Uncle Sam. That scam,…
  • Jury doesn't buy 'vow of poverty' as excuse for not filing taxes

    skbell1
    20 Oct 2014 | 1:40 pm
    By now, most Americans have wrapped up their annual tax-filing duties. And it's probably safe to say that a lot of folks are feeling a lot poorer after fulfilling their tax responsibilities. Some individuals, however, have tried to use a religious vow of poverty to avoid taxes altogether. In these egregious tax evasion cases, they haven't been successful. Poverty vow was a poor tax argument: Take the case of Timothy Dale Jackson. The 50-year-old orthopedic surgeon from Pass Christian, Mississippi, claimed to have taken a vow of poverty with a Utah-based church. Jackson said that…
  • More businesses are electronically filing tax returns

    skbell1
    19 Oct 2014 | 3:03 pm
    Back in 1998, one of the provisions of Internal Revenue Service Restructuring and Reform Act called for the tax agency to get 80 percent of its returns electronically by 2007. Targets are all well and good, but as anyone who has dealt with Uncle Sam knows, he tends to run on its own, usually slower, timetable. That's what happened with the mandated suggested e-filing target. The IRS did get 80 percent of individual filers -- actually 81 percent -- to file electronically, but not until 2012. But since then, the number of e-filing individuals has grown steadily. Through mid-May this year,…
 
  • add this feed to my.Alltop

    Tax-News.Com Live Tax Headlines

  • Tax-News.com: Mining Firms Urge Cuts In Zambia's New Royalty Rates

    24 Oct 2014 | 5:02 am
    Tax-News.com: The increased mining tax framework included in Zambia's 2015 Budget earlier this month has been subject to criticism as, according to the Chamber of Mines of Zambia, it will reduce the country's attraction for mining investment and reduce employment.
  • Tax-News.com: Australia Negotiates Chinese FTA Coal Tariff Exemption

    24 Oct 2014 | 4:59 am
    Tax-News.com: After a meeting with the Chinese Minster of Finance Lou Jiwei, Australia's Treasurer Joe Hockey indicated that, under the terms of the proposed free trade agreement between the two countries, Australia will be exempted from China's new tariffs on imported coal.
  • Tax-News.com: South Africa Warns Of Future Tax Hikes

    24 Oct 2014 | 4:50 am
    Tax-News.com: South Africa's Minister of Finance, Nhlanhla Nene, has warned that, with falling tax collections this year, additional revenue measures will be needed in the 2015 Budget.
  • Tax-News.com: US Urged To Change Tack In Inversions Response

    24 Oct 2014 | 4:50 am
    Tax-News.com: The acrimonious comments made by AbbVie Inc. in pulling out of its planned USD55bn merger with Shire plc, following the administrative action against corporate tax inversions taken by the Treasury Department, have led commentators to raise further questions about the US corporate tax code.
  • Tax-News.com: Switzerland To Add Info Exchange Provisions To All DTAs

    24 Oct 2014 | 4:50 am
    Tax-News.com: The Swiss Federal Council has launched a consultation on legislation for the unilateral application of the Organisation for Economic Cooperation and Development's Standard on the Exchange of Information to all double tax agreements that are not already in line with this model.
  • add this feed to my.Alltop

    Tax Policy Center: The Numbers

  • Options to reduce the 10-Percent Individual Income Tax Rate, Increase the Standard Deduction and Reform the EITC

    1 Oct 2014 | 10:00 pm
    This set of estimates consists of the following related tables: (T14-0113) Options to Reduce the 10-Percent Individual Income Tax Rate, Increase the Standard Deduction and Reform the EITC, Impact on Tax Revenue ($ billions), 2015-24, Baseline: Current Law
  • Options to Reduce Individual Income Tax Rates

    14 Aug 2014 | 10:00 pm
    This set of estimates consists of the following related tables: (T14-0096) Decrease Individual Income Tax Rates by One Percentage Point, Change in Individual Income Tax Revenue, 2015-2024 ($ billions), Baseline: Current Law (T14-0097) Decrease 10 Percent Individual Income Tax Rate to 9 Percent, Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Level, 2015 (T14-0098) Decrease 10 Percent Individual Income Tax Rate to 9 Percent, Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2015 (T14-0099) Decrease 15 Percent…
  • Repeal the Alternative Minimum Tax

    29 Jul 2014 | 10:00 pm
    This set of estimates consists of the following related tables: (T14-0086) Repeal the Individual Alternative Minimum Tax (AMT), Impact on Income Tax Revenue ($ billions), 2015-2024, Baseline: Current Law (T14-0087) Repeal the Individual Alternative Minimum Tax (AMT), Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Level, 2015 (T14-0088) Repeal the Individual Alternative Minimum Tax (AMT), Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Level, 2023 (T14-0089) Repeal the Individual Alternative Minimum Tax (AMT), Baseline:…
  • Sen. Shaheen's Child and Dependent Care Tax Credit (CDCTC) Proposal

    27 Jul 2014 | 10:00 pm
    Distribution analysis and revenue estimate of Sen. Shaheen's CDCTC Proposal, The "Helping Working Families Afford Child Care Act." This set of estimates consists of the following related tables: (T14-0079) Sen. Shaheen's Child and Dependent Care Tax Credit (CDCTC) Proposal: The "Helping Working Families Afford Child Care Act", Change in Individual Income Tax Revenue, 2015-2024 ($ billions), Baseline: Current Law (T14-0080) Sen. Shaheen's Child and Dependent Care Tax Credit (CDCTC) Proposal: The "Helping Working Families Afford Child Care Act", Baseline: Current Law,…
  • Compare Current Law with Tax Law and Policy as of 2008

    22 Jul 2014 | 10:00 pm
    This set of estimates consists of the following related tables: (T14-0078) Current Law against Current Law as of 2008 baseline; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2013 (T14-0073) Current Law against Current Law as of 2008 baseline; Distribution of Federal Tax Change by Expanded Cash Income Level, 2013 (T14-0074) Current Law against Current Policy as of 2008 Baseline; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2013 (T14-0075) Current Law against Current Policy as of 2008 Baseline; Distribution of Federal Tax Change by Expanded…
 
  • add this feed to my.Alltop

    THE WANDERING TAX PRO

  • WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’

    24 Oct 2014 | 2:00 am
    * It is almost time for the new issue of THE TAX PROFESSIONAL! Pleaseemail me your thoughts on the issues I have discussed in the September and October issues at rdftaxpro@yahoo.com with THE TAX PROFESSIONAL in the “subject line”.  Please! * I tell you about the Social Security increases for 2015 in "Social Security Recipients to Receive An Increase of This Much in 2015" at MAINSTREET.COM.* Are you self-employed, or thinking about starting a business. You need THE NEW SCHEDULE C NOTEBOOK!* Joe Kristan quotes IRS Commissioner John Koskinen from an interview with Tax Analysts in…
  • THIS JUST IN - SOCIAL SECURITY COLA INCREASE FOR 2015

    22 Oct 2014 | 6:40 am
    According to the Social Security Administration the monthly Social Security and Supplemental Security Income (SSI) benefits will increase by 1.7%effective January 2015. The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determined by the Department of Labor’s Bureau of Labor Statistics.The monthly Medicare Part B premium will remain $104.90 for 2015.  Higher income beneficiaries will pay a higher premium in 2015 based on 2013 AGI plus tax-exempt municipal bond income.     If your yearly income in 2013 (for what you pay in 2015)…
  • WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’ - TUESDAY EDITION

    21 Oct 2014 | 2:00 am
    * If I may be allowed to repeat a previous BUZZ item:  Hey tax pros - I am still waiting to hear from youse guys on the topics discussed in the October “issue” of THE TAX PROFESSIONAL! Please email me your thoughts at rdftaxpro@yahoo.com with THE TAX PROFESSIONAL in the “subject line”.  Please!* As promised – from Peter J Reilly “UnFair: Exposing The IRS - Does Not Make Strong Case Or Decent Documentary” at FORBES.COM.  While there are many aspects of the current Tax Code that are truly unfair, this film apparently did not address any of them.Peter’s bottom line…
  • WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’

    17 Oct 2014 | 2:00 am
    Another BUZZ-Light.  The 2014 Tax Filing Season (for 2013 returns) is finally over – now it is time to get ready for the 2015 season (for 2014 returns).  It never ends!* A “tweet” from @TaxManBoston that bears repeating –“And respect your tax practitioner! It's not THEIR fault when you owe taxes!!!” * Hey tax pros - I am still waiting to hear from youse guys on the topics discussed in the October “issue” of THE TAX PROFESSIONAL! Please email me your thoughts at rdftaxpro@yahoo.com with THE TAX PROFESSIONAL in the “subject line”.  Please!* Over at FORBES.COM…
  • WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’ - TUESDAY EDITION

    14 Oct 2014 | 2:00 am
    Not much BUZZ this installment. BTW - You do realize that the deadline for filing extended 2013 federal and state income tax returns is tomorrow!  However, this deadline is really only important if you owe tax on the returns.  Click here.* I am still waiting to hear from fellow tax preparers on the topics discussed in the October “issue” of THE TAX PROFESSIONAL!You can read what other taxpros have had to say at the MAILBAG Page.* Over at BUSINESS WEEK Drake Bennett reviews the book “We Are Better Than This” by Edward Kleinbard (“a tax partner at the law firm Cleary…
  • add this feed to my.Alltop

    Start Making Sense

  • My remarks at this afternoon's Fordham session on corporate inversions

    23 Oct 2014 | 12:19 pm
    The panel today, which I mentioned in my previous blog post, was off the record, so I can't address any of the particulars of the session.  But here is the written version of my remarks there:One of the hazards of being asked regularly to comment on things is that you start wanting to be known as a sage who has made great predictions in advance.  So you get football prognosticators who keep picking the upset special, on the view that no one will remember when they’re wrong, but that they’ll be able to crow about it when they’re finally right.Insofar as I predicted something in…
  • Yet another upcoming event at which I'll be a speaker

    21 Oct 2014 | 11:04 am
    On Thursday, October 30, from 6:30 to 8:30 pm, NYU Law School will be hosting a book event for Ed Kleinbard's We Are Better Than This: How Government should Spend Our Money.  At this session, Ed will speak for a while, then Linda Sugin and I will both offer, say, 10 minutes each of commentary, followed by open discussion in the room.  A link for the event that includes a further registration link is available here.The book is great - important, convincing, highly informative, entertaining, both erudite and sure-footed on a wide range of topics, and a major public service.  I'll…
  • Roundtable discussion on corporate inversions

    21 Oct 2014 | 8:19 am
    This Thursday, October 23, from 12 to 2 pm at the Fordham School of Law, I will be participating in a roundtable discussion on tax inversions.  Details are available here, and you can register for free on-line.The other panelists will be David Shakow (a fellow academic, although he is also in practice), John Samuels (from General Electic), Paul Oosterhuis (from Skadden Arps), and Harry Grubert (from the Treasury Department).  These individuals are all aptly described as heavy hitters, with plenty of Washington connections and Treasury or Capital Hill experience in addition to field…
  • New project

    20 Oct 2014 | 5:56 pm
    I've been reluctant to mention this here, for fear of jinxing a still inchoate new thing, but I appear to be moving towards (and into) a new book project, inspired by one of the small sidelights in the Piketty article that I coauthored with Joe Bankman (and that we will soon be posting on SSRN).There's a short section of that article, representing one of my parts of this true joint project, in which we discuss Piketty's much-noted discussion of literature to help illuminate past rentier societies that he believes may tell us something about the future.  In particular, he discusses Austen…
  • More travel and recent travel

    20 Oct 2014 | 5:43 pm
    I will be reprising my talk on the Piketty book in a talk at the University of British Columbia Law School in Vancouver on Monday, October 27.  Details here.Good session in Charlottesville last Thursday when I last presented this paper, although the air travel aspect was not as much fun.  (Five-hour delay heading out, including a flight that returned to NYC after many minutes in the air, due to mechanical problems; one-hour delay heading back.)The main comments I got in Virginia concerned the likely virtues of spelling out, a bit more thoroughly than the current draft does, the…
 
  • add this feed to my.Alltop

    MauledAgain

  • Tax Complications Often Mask Tax Breaks

    James Edward Maule
    22 Oct 2014 | 5:01 am
    On Monday, a reader of the Albuquerque Journal sent an inquiry to a columnist who carefully answered the question. The reader wanted to know why it would be better to make a charitable donation of stock rather than a donation of cash in the same amount as the value of the stock. The reader pointed out that, whichever choice was made, the charitable contribution deduction would be the same. The columnist explained that there was a big difference. By donating the stock, the reader avoids paying the capital gains tax that would be due if the reader sold the stock and donated cash proceeds.The…
  • Putting the Brakes on Tax Breaks

    James Edward Maule
    20 Oct 2014 | 5:01 am
    Philadelphia City Council has approved legislation giving yet another tax break to employers. According to this story, city officials are using a tax break to do what state law prohibits them from doing directly. They want private sector employers to pay workers at least $12 an hour rather than the current $7.25 minimum hourly wage. The legislation would provide each employer an annual $5,000 tax credit for each new full-time worker hired at a rate of at least $12 an hour.Some math is in order. An employer who would otherwise pay $7.25 per hour to an employee who works 2,000 hours but who…
  • Fighting Over Pie or Baking Pie?

    James Edward Maule
    17 Oct 2014 | 5:01 am
    Four months ago, in When the Poor Need Help, Give Tax Dollars to the Rich, I criticized the decision by New Jersey’s Governor Christie to dish out tax credits to the Philadelphia 76ers in return for the team moving its practice facility to Camden. The state claimed that by giving away $82 million over 10 years it would get back $77 million over 35 years. That doesn’t add up, except for the private sector corporations and wealthy individuals who pocket the difference, which surely is much more than it appears to be. Why? Although these sorts of giveaways to the wealthy are defended by…
  • A Bad Tax Pun

    James Edward Maule
    15 Oct 2014 | 5:01 am
    I like puns, and word games. The other day I came across one that meshed with taxation. It’s bad, so it’s appropriate for hump day.We know that taxes are used both to discourage activities on which society allegedly frowns, as well as to generate revenue to pay for the social cost of those activities. Thus there are taxes on tobacco, on gambling, on alcohol, and on inappropriate activities by private foundations, to name a few. So would it not make sense to develop a tax for another practice on which at least some part of society frowns.And thus, it has been proposed that when people make…
  • So What Would You Have Advised?

    James Edward Maule
    13 Oct 2014 | 5:01 am
    A recent Tax Court case, Kalapodis v. Comr., T.C. Memo 2014-205, presents an opportunity to explore how the tax law affects the manner in which people decide to implement a plan. The taxpayers, a married couple, had a son who died. They received $75,000 of life insurance proceeds on his life. They decided they wanted to use the money to establish scholarships for deserving students. So they put the money into a trust, gave it a name, and directed the trust to pay $2,000 in scholarships to each of three high school students. The money came from investment income on accounts owned by the trust,…
  • add this feed to my.Alltop

    accountingweb.com

  • 3 Rules to Getting Referrals from Other Professionals

    Bryce Sanders
    23 Oct 2014 | 10:33 am
    Where do you get your referrals from? You probably have a couple of good sources, but chances are you don't know about all the referral possibilities. Don't leave money on the table.
  • Bramwell’s Lunch Beat: KPMG Finally Joining the Strategy Party

    Jason Bramwell
    23 Oct 2014 | 9:25 am
    The menu for Oct. 23 features specials on SEC and Big Four Chinese firms continue talks over audit documents, Tesco chair resigns amid accounting mess, Mylan and Abbott tweak tax deal, and more.
  • Firm Issues List of the Best Tech for Accountants

    Terry Sheridan
    23 Oct 2014 | 4:24 am
    Some IT companies are advancing while others are stuck in ivory towers. What does that say about them—and what do your technology choices say about your firm? Are you going with the winners?
  • Bramwell’s Lunch Beat: Average Fees for Tax Preparation

    Jason Bramwell
    22 Oct 2014 | 9:22 am
    The menu for Oct. 22 features specials on IRS chief warns of complicated 2015 filing season, FASB continues efforts to reduce complexity, AICPA elects new board chair, inversion lobbying booms, and more.
  • Breaking News: What's Happening with QuickBooks?

    John Stokdyk
    22 Oct 2014 | 5:16 am
    News from the QuickBooks Connect conference in San Jose. Intuit has given QuickBooks Online Accountant (QBOA) a major overhaul with features that will gladden the hearts of professional users.
  • add this feed to my.Alltop

    TaxProf Blog

  • The IRS Scandal, Day 533

    Paul Caron
    24 Oct 2014 | 12:12 am
    USA Today: Tea Party Loses Court Battle Over Targeting to IRS: A federal court dismissed two lawsuits against the Internal Revenue Service Thursday, ruling that the tax agency is no longer targeting conservative tax-exempt groups for greater scrutiny. True the Vote v. IRS Ruling Linchpins of Liberty v. IRS "Unless...
  • Hickman Presents Treasury's Retroactivity Today at UC-Irvine

    Paul Caron
    23 Oct 2014 | 1:00 pm
    Kristin Hickman (Minnesota) presents Treasury's Retroactivity at UC-Irvine today as part of its Faculty Workshop Series: In Bowen v. Georgetown University Hospital, the Supreme Court described retroactivity as "not favored in the law" and generally rejected allowing federal administrative agencies to adopt regulations "altering the past legal consequences of past...
  • Whistleblowers: IRS Officials Behind ‘Fraudulent’ Multi-Billion Dollar Corporate Tax Giveaways

    Paul Caron
    23 Oct 2014 | 12:30 pm
    Raw Story: Whistleblowers: IRS Officials Behind ‘Fraudulent’ Multi-Billion Dollar Corporate Tax Giveaways: A 10-year veteran IRS attorney has demanded a Congressional audit of the IRS to investigate the agency’s alleged role in allowing American corporations to illegally avoid paying billions of dollars in taxes at the same time the agency...
  • Osofsky: Tax Law Nonenforcement

    Paul Caron
    23 Oct 2014 | 12:05 pm
    Leigh Osofsky (Miami), Tax Law Nonenforcement: The Obama Administration has engaged in what some have characterized as an “unprecedented use of executive power” not to enforce certain laws, including immigration laws, federal marijuana laws, and even parts of the Obama Administration’s own Patient Protection and Affordable Care Act. In response...
  • Mann: Subchapter S: Vive Le Difference!

    Paul Caron
    23 Oct 2014 | 11:30 am
    Roberta F. Mann (Oregon), Subchapter S: Vive Le Difference!, 18 Chapman L. Rev. 65 (2014): Is Subchapter S obsolete, or does it still serve a rational purpose in the economy? This Article will examine that issue, focusing on the comparison between S corporations and LLCs. The Article begins with a...
 
  • add this feed to my.Alltop

    Roth & Company, P.C

  • Tax Roundup, 10/23/14: Iowa Tax Crime Edition. And: USPS > Stamps.com, in Tax Court.

    Joe Kristan
    23 Oct 2014 | 6:47 am
    Tax crime happens in Iowa too. While Iowa doesn’t seem to get the same attention from tax prosecutors as some other places, tax evasion can get Iowans the same prison time as anyone else. Two Iowa entrepreneurs are learning that lesson now. Via Wikipedia The operator of a venerable Des Moines pharmacy and soda fountain apparently will plead guilty to tax evasion on charges arising out of back-door sales of hydrocodone pills, according to reports.  The Des Moines Register article on the plea deal provides insight on how the charges against pharmacist Mark Graziano came about, and on…
  • FICA Max increases to $118,500 for 2015

    Joe Kristan
    23 Oct 2014 | 4:55 am
    The Social Security Administration has announced that the maximum earnings subject to the 6.2% FICA tax rises to $118,500 for 2015.  It has been $117,000 for 2014.   That same cap applies to the 12.4% retirement portion of self-employment tax. The maximum FICA withholding for 2015 will be $7,347.00 for 2014, up from the 2014 maximum of $7254.00. The 2.9% medicare tax, split between employees and employers, has no wage or self-employment income cap.  There is also no maximum for the .9% additional medicare tax under Obamacare that applies when adjusted gross income exceeds $250,000 for…
  • Tax Roundup, 10/22/14: Remembering tax reform.

    Joe Kristan
    22 Oct 2014 | 6:42 am
    President Reagan signed the Tax Reform Act of 1986 28 years ago today. In hindsight, the tax law that resulted seems like a beacon of simplicity, with its 28% top rates and its lack of a capital gain differential. Looking hard at the 1986 Act, we can see some warning signs. It enacted a temporary research credit, setting the stage for the semi-annual parade of expiring provisions. It included the current alternative minimum tax, which adds huge complexity to individual compliance. It had some benefits that phased out based on income, such as passive losses for active renters and for some IRA…
  • Tax Roundup, 10/21/14: Gander gets sauced! And: IRS Commissioner’s prophecy of tax season doom.

    Joe Kristan
    21 Oct 2014 | 6:51 am
    Flickr image by Sage under Creative Commons license Gander, Meet Sauce. An alert reader points out something wonderful I had missed — a ruling awarding attorney fees and costs of $257,885 to the return preparers who successfully challenged the IRS preparer regulations. It’s a rare and welcome example of the IRS being held accountable for being unreasonable with taxpayers. And the court said the IRS was being unreasonable (all emphasis mine; some citations omitted): In the present case, the reasonableness of the government’s position can be measured by the familiar…
  • Tax Roundup, 10/20/14: Extension season is over. Now what? And: do your part for Boeing!

    Joe Kristan
    20 Oct 2014 | 6:24 am
    We are now in the sweet spot of the tax year. We are done with extended 1040s, and it’s too early to get most people to do year-end tax planning. That’s why this is the continuing education season for most of us. The Iowa State University Center for Agricultural Law and Taxation Farm and Urban Tax Schools begin next week. I will be speaking on the Day 1 program for all schools, starting October 28 in Waterloo, Iowa. Tour stops also include Maquoketa, Sheldon, Red Oak, Ottumwa, Mason City, Denison and Ames. Who said public accounting lacks glamour? Now to get those slides…
  • add this feed to my.Alltop

    RUBIN ON TAX

  • Federal Tax Lien Did Not Survive Death of Joint Tenant

    Charles (Chuck) Rubin
    23 Oct 2014 | 11:23 am
    Two individuals (Cunning and Wren) acquired real property in the U.S. Virgin Islands as joint tenants with rights of survivorship (JTWROS) in 2005. In 2010 the IRS filed a federal tax lien against Cunning in the U.S. Virgin Islands. Cunning died in 2011, so that Wren succeeded to 100% ownership of the real property. The IRS sought to continue its tax lien against the real property.The District Court in the Virgin Islands ruled that the lien died with Cunning such that Wren owns the interest free of the tax lien. In most states, when property is held in joint tenancy with a right of…
  • Applicable Federal Rates–November 2014

    Charles (Chuck) Rubin
    18 Oct 2014 | 9:11 am
    Follow @crubincrubin
  • IRS Modifies Offshore Filing Procedures

    Charles (Chuck) Rubin
    15 Oct 2014 | 6:02 pm
    The IRS has issued FAQs relating to the new streamlined procedures for offshore compliance, and for Delinquent International Information Return Submission Procedures.The FAQs for the streamlined program provide more detailed guidance on how the 5% penalty will be computed, how 100% owners of an incorporated business will be treated, and how stock of a foreign corporation will be valued.The FAQ for Delinquent International Information Return Submission Procedures remove an implied requirement of reporting in the prior IRS announcements – the FAQ provides that these procedures can be used…
  • Treasury Makes Life Easier for Holders of Canadian Retirement Account Interests

    Charles (Chuck) Rubin
    9 Oct 2014 | 1:37 pm
    Summary: Treasury automates the process for U.S. taxpayers making an election to defer taxation of Canadian RRSPs and RRIFs and to eliminate some information reporting requirements as to those accounts. U.S. persons are generally not subject to U.S. income tax on individual retirement accounts ("IRAs") until distributions are taken. Canada has retirement accounts similar to IRAs. These are known as Canadian registered retirement savings plans (“ RRSPs” ) and registered retirement income funds (“ RRIFs” ). Similar to U.S. treatment, Canada does not impose its income tax on…
  • Hidden Gift in Merger Transaction

    Charles (Chuck) Rubin
    4 Oct 2014 | 7:28 pm
    Summary: Disguised gifts found in a merger transaction, along with an interesting story on how the gifts came about. Most tax practitioners are trained to look behind the transfers occurring in family corporate transactions to determine if a disguised gift is being made. A recent Tax Court case provides a real world example of such gifts In the case, the parents' manufacturing company was merged with another company owned by their sons. The Tax Court found that the parents' company was substantially undervalued in the merger. Therefore, the parents received less stock in the resulting entity…
  • add this feed to my.Alltop

    Tax Problem Attorney Blog

  • New FAQs For Offshore Voluntary Disclosure Program (OVDP) Released by IRS

    16 Oct 2014 | 10:00 am
    Our tax lawyers have reviewed the IRS' newly issued FAQs for its Delinquent International Information Return Submission Procedures, the Streamlined Filing Compliance Procedures for U.S. Taxpayers Residing in the United States (SDOP), and the Streamlined Filing Compliance Procedures for U.S. Taxpayers Residing Outside the United States (SFOP). These programs are first cousins of the IRS' Offshore Voluntary Disclosure Program (OVDP), but technically are not part of OVDP, and are options for individuals who have failed to report income from offshore bank accounts, and who may have failed to file…
  • Florida Doctor Sentenced in Criminal Tax Case for Concealing Assets and Filing False Individual Income Tax Returns

    16 Sep 2014 | 10:00 am
    Individuals using offshore bank accounts to conceal assets and facilitate tax fraud continue to be prosecuted by the Department of Justice. Under the Bank Secrecy Act, citizens and lawful permanent residents (i.e. "Green Card" holders) that have an interest in or signature authority over a financial account in a foreign country with assets in excess of $10,000 at any time during the year are required to disclose the accounts on their individual income tax returns, both on Schedule B, and if the accounts are large enough on Form 8938. They must also file a FBAR (Report of Foreign Bank and…
  • Business Owners Get Jail Time for Tax Evasion

    3 Sep 2014 | 12:15 pm
    Sometimes understating income is just carelessness. Sometimes its tax fraud or tax evasion. People don't always realize that tax fraud or tax evasion can lead to time in jail. Convincing judges to sentence defendants to prison for criminal tax evasion continues to be a priority for the Department of Justice where taxpayers have willfully underreported their income or made false statements to the IRS revenue agents regarding their tax liabilities, as shown by unrelated decisions handed down against Abdelhamid M. Horany and Robert C. Sathre. Horany, a business owner, admitted to underreporting…
  • Expect Increased Assessment and Collection of Trust Fund Recovery Penalties

    22 Aug 2014 | 10:00 am
    Enforcement of The Trust Fund Recovery Penalty (TFRP) is a source of potential government revenue that, according to the Treasury Inspector General for Tax Administration (TIGTA), needs to be revamped to become more efficient. Under existing law, employers are required to withhold from their employees' salaries amounts to cover Federal income, Social Security, and Medicare taxes. These are referred to as "trust fund taxes." When the employer fails to pay these taxes, the IRS can collect them from "responsible persons," who have willfully failed to pay them. In determining who is a responsible…
  • Big Changes to IRS Offshore Voluntary Disclosure Program (OVDP) for FBAR Non-Filers

    19 Jun 2014 | 10:52 am
    Massive change is coming to the IRS
 
  • add this feed to my.Alltop

    Taxable Talk

  • Copying Steven Martinez’s Idea Is Not a Good Choice

    Russ
    19 Oct 2014 | 7:49 pm
    I’m on the road this weekend, but a story from the San Francisco Bay Area caught my eye. Charles Waldo was already in jail. He was arrested on a 50-count indictment for insurance fraud, tax evasion, felony vandalism, and a high speed chase through central Costa Contra County. While awaiting trial, Mr. Waldo was in the Martinez, California jail. When you’re in prison you do have time on your hands to determine your defense. There’s plenty of time to research the law on the charges you’re facing, work on strategy with your defense counsel, and perhaps other means of…
  • You Filed That Extension, And Only Now Are Realizing the Deadline is Wednesday…

    Russ
    12 Oct 2014 | 7:59 pm
    Yes, only three days are left until the extension deadline. If you file on October 16th, it’s as if you never filed that extension (you will owe a 22.5% late filing penalty). So what should you do if you’re just starting on your return now? First, in most cases tax professionals say it’s better to extend than amend. But extending is now out [1], so it’s better to get a reasonable return in. It can’t be a frivolous return: If you file a frivolous return, it’s even worse than not filing–you can get hit with a penalty for filing a frivolous return. 1.
  • It’s Not As If Anything Is Happening Right After This…

    Russ
    7 Oct 2014 | 2:53 pm
    Of course, after reporting good news from the IRS there must be bad news to balance it out. And there is. For reasons that only the bureaucrats at the IRS can fathom, every year over Columbus Day weekend the IRS shuts down their computer systems. This includes processing of returns and IRS e-services. As noted on various IRS web pages: IRS will conduct its annual Columbus Day Power Outage beginning Saturday, October 11, 2014 at 3:00 p.m. and ending on Tuesday, October 14, 2014 at 5:00 a.m. [times Eastern] Yes, I know the IRS does this every year, but why not break with tradition and choose…
  • IRS Simplifies Reporting for RRSPs and RRIFs

    Russ
    7 Oct 2014 | 2:48 pm
    In a piece of good news, the IRS announced today that US taxpayers will automatically be treated as deferring income from Canadian Registered Retirement Savings Plans (RRSPs) and Canadian Registered Retirement Income Funds (RRIFs). In other words, the treatment will be exactly like 401(k)s are treated for Americans. Such individuals will no longer have to make annual filings of Form 8891 to note their holdings for RRSPs or RRIfs. The noncompliance with this provision was legion, so the new Revenue Procedure 2014-55 is good news. Individuals who were not in compliance had to file a request for…
  • Legaspi Gets 21 Months

    Russ
    5 Oct 2014 | 1:00 pm
    Francisco Legaspi didn’t want to go to jail. Back in November 1992, he pleaded guilty to tax evasion. Instead of showing up for his sentencing in January 1993, he headed to Mexico and then Canada to avoid prison. That worked for 20 years. In 2012, the State Department found him when the Bureau of Diplomatic Security found his Facebook page. (A helpful hint to any fugitives out there: Avoid posting anything on the Internet. Law enforcement reads the Internet, too.) They forwarded his information to the Royal Canadian Mounted Police who arrested him; the Mounties always get their man. It…
  • add this feed to my.Alltop

    IRS Hitman 888-415-1337

  • Obamacare: What Employers Need to Know

    17 Oct 2014 | 8:44 am
    As an employer, you have certain responsibilities under Obamacare or the Affordable Care Act. If you have 50 or more employees who work for you full-time, then you are considered an ALE( applicable large employer). An ALE employer is subject to Employer Shared Responsibility provisions. A full-time employee is one that works on an average of at least 30 hours per week.If an employer comes under the Employer Shared Responsibility provisions, then the he or she needs to prove at least the minimum level of health coverage to their full-time employees (and their dependents). The employer may need…
  • Do You e-file Your Business Taxes?

    10 Oct 2014 | 10:17 am
    If you are an employer, then you can easily file tax returns by using e-file. Large and mid-sized corporations are required to file using e-file. Businesses big or small, and self-employed can opt for e-filing over paper filing if they wish to. E-file is fast becoming the preferred method of filing returns because of the safety it provides, its ease of use, and quick filing. After encouraging individual taxpayers to file their returns through e-file, the IRS is now pushing businesses to use e-file to file returns. E-file allows faster processing of returns, and is safer and faster than paper…
  • Factors That Affect Tax Debt Resolution

    3 Oct 2014 | 1:05 pm
    In order to successfully resolve a tax debt, it’s important to understand the IRS policies and tax laws that affect your situation. Care must be taken in choosing an appropriate payment plan that will provide you the most effective resolution. The IRS has various payment plans, otherwise known as Installment Agreements. Programs that reduce or delay payment of a tax debt are not applicable to all taxpayers and there are specific requirements to secure them.Even if you can qualify for a payment plan, it’s important to make sure you can meet the agreement requirements. Many times, taxpayers…
  • IRS Alert: Scammers Target Foreign Financial Institutions

    26 Sep 2014 | 8:50 am
    Scammers are using the foreign account tax compliance act (FATCA) to mislead foreign financial institutions that they are from the IRS. These scammers are asking for account holders' confidential information, which they later use to carry out tax fraud and other financial crimes. Emailing is the fraudsters' preferred method of communication.Scammers often use changes in the tax laws and new tax rules implemented by the IRS to deceive unsuspecting people. As many taxpayers and financial institutions are not aware of all the regulations due to the newness of the rules, scammers are often…
  • Report Changes to Avoid Problems with Premium Tax Credit

    19 Sep 2014 | 7:57 am
    If you got married, moved to a different state, had an income increase or adopted a child, remember to report the change(s) to the health Insurance Marketplace. Some of the other institutes that you need to report any major life changes are:The postal serviceUtility companiesYour employerFinancial institutions, including bank(s)When it comes to the premium tax credit, reporting changes helps the health care department correctly determine the correct insurance coverage and accurately calculate the amount of credit you are allowed. It’s important to inform the Health Insurance Marketplace of…
  • add this feed to my.Alltop

    L & R Tax Preparation LLC RSS Feed

  • Which Moving Expenses are Deductible?

    1 Oct 2014 | 7:00 am
    If you moved due to a change in your job or business location or because you started a new job or business, you may be able to deduct your reasonable moving expenses. Wondering if you can deduct your moving expenses? Keep reading to find out.
  • Small Business and the Affordable Care Act

    1 Oct 2014 | 7:00 am
    Whether you're self-employed or run a small business, here's what you need to know about the Affordable Care Act.
  • Hobby or Business? Why It Matters

    1 Oct 2014 | 7:00 am
    Millions of Americans have hobbies, but when that hobby starts to turn a profit, it might just be considered a business by the IRS. Learn more about the tax implications of a hobby versus a business.
 
  • add this feed to my.Alltop

  • Latest actor to play Jobs didn't need to audition

    24 Oct 2014 | 2:46 am
    Latest actor to play Jobs didn't need to auditionGettyIn an upcoming biopic about the late Apple visionary, this Academy Award winner got the gig because the project 'needed the best.'Next star to don the turtleneck is ...More in entertainmentSinger calls Miley Cyrus 'a hick' 'Star Wars' plot holes revealed
  • Heartbreaking sight at home of slain soldier

    24 Oct 2014 | 2:46 am
    Heartbreaking sight at home of slain soldierFacebookA moving scene emerged at a makeshift vigil for Cpl. Nathan Cirillo, the reservist killed in a terrorist attack in Ottawa. Warning: Pics may make you cryRelated coverageCanada signals shift in terror fightDetails emerge about shooter
  • Randy Jackson on taking control of his disease

    24 Oct 2014 | 2:46 am
    Randy Jackson on taking control of his diseaseGettyThe former 'American Idol' judge revealed the routine he follows to stay healthy.Secrets to his successMore from Everyday Health9 facts about your liverTraveling with ADHD kids
  • RFK aide, Frank Mankiewicz, has died at age 90

    24 Oct 2014 | 2:46 am
    RFK aide, Frank Mankiewicz, has died at age 90GettyThe press secretary who went before TV cameras to announce the death of Sen. Robert F. Kennedy passed Thursday of a heart attack.Watch moment he faced worldMore headlinesGuide to Ferguson developmentsEbola cases could spur lawsuits
  • NYC has been struck by first case of Ebola

    24 Oct 2014 | 2:46 am
    NYC has been struck by first case of EbolaAPOfficials confirmed Dr. Craig Spencer, 33, tested positive for the virus Thursday, but attempted to ease concerns about spreading.Hospital he's being treated atMore coverage on EbolaWife, two friends quarantinedCDC details new response teams
  • add this feed to my.Alltop

  • Latest actor to play Jobs didn't need to audition

    24 Oct 2014 | 2:46 am
    Latest actor to play Jobs didn't need to auditionGettyIn an upcoming biopic about the late Apple visionary, this Academy Award winner got the gig because the project 'needed the best.'Next star to don the turtleneck is ...More in entertainmentSinger calls Miley Cyrus 'a hick' 'Star Wars' plot holes revealed
  • Heartbreaking sight at home of slain soldier

    24 Oct 2014 | 2:46 am
    Heartbreaking sight at home of slain soldierFacebookA moving scene emerged at a makeshift vigil for Cpl. Nathan Cirillo, the reservist killed in a terrorist attack in Ottawa. Warning: Pics may make you cryRelated coverageCanada signals shift in terror fightDetails emerge about shooter
  • Randy Jackson on taking control of his disease

    24 Oct 2014 | 2:46 am
    Randy Jackson on taking control of his diseaseGettyThe former 'American Idol' judge revealed the routine he follows to stay healthy.Secrets to his successMore from Everyday Health9 facts about your liverTraveling with ADHD kids
  • RFK aide, Frank Mankiewicz, has died at age 90

    24 Oct 2014 | 2:46 am
    RFK aide, Frank Mankiewicz, has died at age 90GettyThe press secretary who went before TV cameras to announce the death of Sen. Robert F. Kennedy passed Thursday of a heart attack.Watch moment he faced worldMore headlinesGuide to Ferguson developmentsEbola cases could spur lawsuits
  • NYC has been struck by first case of Ebola

    24 Oct 2014 | 2:46 am
    NYC has been struck by first case of EbolaAPOfficials confirmed Dr. Craig Spencer, 33, tested positive for the virus Thursday, but attempted to ease concerns about spreading.Hospital he's being treated atMore coverage on EbolaWife, two friends quarantinedCDC details new response teams
 
  • add this feed to my.Alltop

  • Latest actor to play Jobs didn't need to audition

    24 Oct 2014 | 2:46 am
    Latest actor to play Jobs didn't need to auditionGettyIn an upcoming biopic about the late Apple visionary, this Academy Award winner got the gig because the project 'needed the best.'Next star to don the turtleneck is ...More in entertainmentSinger calls Miley Cyrus 'a hick' 'Star Wars' plot holes revealed
  • Heartbreaking sight at home of slain soldier

    24 Oct 2014 | 2:46 am
    Heartbreaking sight at home of slain soldierFacebookA moving scene emerged at a makeshift vigil for Cpl. Nathan Cirillo, the reservist killed in a terrorist attack in Ottawa. Warning: Pics may make you cryRelated coverageCanada signals shift in terror fightDetails emerge about shooter
  • Randy Jackson on taking control of his disease

    24 Oct 2014 | 2:46 am
    Randy Jackson on taking control of his diseaseGettyThe former 'American Idol' judge revealed the routine he follows to stay healthy.Secrets to his successMore from Everyday Health9 facts about your liverTraveling with ADHD kids
  • RFK aide, Frank Mankiewicz, has died at age 90

    24 Oct 2014 | 2:46 am
    RFK aide, Frank Mankiewicz, has died at age 90GettyThe press secretary who went before TV cameras to announce the death of Sen. Robert F. Kennedy passed Thursday of a heart attack.Watch moment he faced worldMore headlinesGuide to Ferguson developmentsEbola cases could spur lawsuits
  • NYC has been struck by first case of Ebola

    24 Oct 2014 | 2:46 am
    NYC has been struck by first case of EbolaAPOfficials confirmed Dr. Craig Spencer, 33, tested positive for the virus Thursday, but attempted to ease concerns about spreading.Hospital he's being treated atMore coverage on EbolaWife, two friends quarantinedCDC details new response teams
  • add this feed to my.Alltop

  • Latest actor to play Jobs didn't need to audition

    24 Oct 2014 | 2:46 am
    Latest actor to play Jobs didn't need to auditionGettyIn an upcoming biopic about the late Apple visionary, this Academy Award winner got the gig because the project 'needed the best.'Next star to don the turtleneck is ...More in entertainmentSinger calls Miley Cyrus 'a hick' 'Star Wars' plot holes revealed
  • Heartbreaking sight at home of slain soldier

    24 Oct 2014 | 2:46 am
    Heartbreaking sight at home of slain soldierFacebookA moving scene emerged at a makeshift vigil for Cpl. Nathan Cirillo, the reservist killed in a terrorist attack in Ottawa. Warning: Pics may make you cryRelated coverageCanada signals shift in terror fightDetails emerge about shooter
  • Randy Jackson on taking control of his disease

    24 Oct 2014 | 2:46 am
    Randy Jackson on taking control of his diseaseGettyThe former 'American Idol' judge revealed the routine he follows to stay healthy.Secrets to his successMore from Everyday Health9 facts about your liverTraveling with ADHD kids
  • RFK aide, Frank Mankiewicz, has died at age 90

    24 Oct 2014 | 2:46 am
    RFK aide, Frank Mankiewicz, has died at age 90GettyThe press secretary who went before TV cameras to announce the death of Sen. Robert F. Kennedy passed Thursday of a heart attack.Watch moment he faced worldMore headlinesGuide to Ferguson developmentsEbola cases could spur lawsuits
  • NYC has been struck by first case of Ebola

    24 Oct 2014 | 2:46 am
    NYC has been struck by first case of EbolaAPOfficials confirmed Dr. Craig Spencer, 33, tested positive for the virus Thursday, but attempted to ease concerns about spreading.Hospital he's being treated atMore coverage on EbolaWife, two friends quarantinedCDC details new response teams
  • add this feed to my.Alltop

  • Latest actor to play Jobs didn't need to audition

    24 Oct 2014 | 2:46 am
    Latest actor to play Jobs didn't need to auditionGettyIn an upcoming biopic about the late Apple visionary, this Academy Award winner got the gig because the project 'needed the best.'Next star to don the turtleneck is ...More in entertainmentSinger calls Miley Cyrus 'a hick' 'Star Wars' plot holes revealed
  • Heartbreaking sight at home of slain soldier

    24 Oct 2014 | 2:46 am
    Heartbreaking sight at home of slain soldierFacebookA moving scene emerged at a makeshift vigil for Cpl. Nathan Cirillo, the reservist killed in a terrorist attack in Ottawa. Warning: Pics may make you cryRelated coverageCanada signals shift in terror fightDetails emerge about shooter
  • Randy Jackson on taking control of his disease

    24 Oct 2014 | 2:46 am
    Randy Jackson on taking control of his diseaseGettyThe former 'American Idol' judge revealed the routine he follows to stay healthy.Secrets to his successMore from Everyday Health9 facts about your liverTraveling with ADHD kids
  • RFK aide, Frank Mankiewicz, has died at age 90

    24 Oct 2014 | 2:46 am
    RFK aide, Frank Mankiewicz, has died at age 90GettyThe press secretary who went before TV cameras to announce the death of Sen. Robert F. Kennedy passed Thursday of a heart attack.Watch moment he faced worldMore headlinesGuide to Ferguson developmentsEbola cases could spur lawsuits
  • NYC has been struck by first case of Ebola

    24 Oct 2014 | 2:46 am
    NYC has been struck by first case of EbolaAPOfficials confirmed Dr. Craig Spencer, 33, tested positive for the virus Thursday, but attempted to ease concerns about spreading.Hospital he's being treated atMore coverage on EbolaWife, two friends quarantinedCDC details new response teams
 
  • add this feed to my.Alltop

  • Latest actor to play Jobs didn't need to audition

    24 Oct 2014 | 2:46 am
    Latest actor to play Jobs didn't need to auditionGettyIn an upcoming biopic about the late Apple visionary, this Academy Award winner got the gig because the project 'needed the best.'Next star to don the turtleneck is ...More in entertainmentSinger calls Miley Cyrus 'a hick' 'Star Wars' plot holes revealed
  • Heartbreaking sight at home of slain soldier

    24 Oct 2014 | 2:46 am
    Heartbreaking sight at home of slain soldierFacebookA moving scene emerged at a makeshift vigil for Cpl. Nathan Cirillo, the reservist killed in a terrorist attack in Ottawa. Warning: Pics may make you cryRelated coverageCanada signals shift in terror fightDetails emerge about shooter
  • Randy Jackson on taking control of his disease

    24 Oct 2014 | 2:46 am
    Randy Jackson on taking control of his diseaseGettyThe former 'American Idol' judge revealed the routine he follows to stay healthy.Secrets to his successMore from Everyday Health9 facts about your liverTraveling with ADHD kids
  • RFK aide, Frank Mankiewicz, has died at age 90

    24 Oct 2014 | 2:46 am
    RFK aide, Frank Mankiewicz, has died at age 90GettyThe press secretary who went before TV cameras to announce the death of Sen. Robert F. Kennedy passed Thursday of a heart attack.Watch moment he faced worldMore headlinesGuide to Ferguson developmentsEbola cases could spur lawsuits
  • NYC has been struck by first case of Ebola

    24 Oct 2014 | 2:46 am
    NYC has been struck by first case of EbolaAPOfficials confirmed Dr. Craig Spencer, 33, tested positive for the virus Thursday, but attempted to ease concerns about spreading.Hospital he's being treated atMore coverage on EbolaWife, two friends quarantinedCDC details new response teams
  • add this feed to my.Alltop

  • Latest actor to play Jobs didn't need to audition

    24 Oct 2014 | 2:46 am
    Latest actor to play Jobs didn't need to auditionGettyIn an upcoming biopic about the late Apple visionary, this Academy Award winner got the gig because the project 'needed the best.'Next star to don the turtleneck is ...More in entertainmentSinger calls Miley Cyrus 'a hick' 'Star Wars' plot holes revealed
  • Heartbreaking sight at home of slain soldier

    24 Oct 2014 | 2:46 am
    Heartbreaking sight at home of slain soldierFacebookA moving scene emerged at a makeshift vigil for Cpl. Nathan Cirillo, the reservist killed in a terrorist attack in Ottawa. Warning: Pics may make you cryRelated coverageCanada signals shift in terror fightDetails emerge about shooter
  • Randy Jackson on taking control of his disease

    24 Oct 2014 | 2:46 am
    Randy Jackson on taking control of his diseaseGettyThe former 'American Idol' judge revealed the routine he follows to stay healthy.Secrets to his successMore from Everyday Health9 facts about your liverTraveling with ADHD kids
  • RFK aide, Frank Mankiewicz, has died at age 90

    24 Oct 2014 | 2:46 am
    RFK aide, Frank Mankiewicz, has died at age 90GettyThe press secretary who went before TV cameras to announce the death of Sen. Robert F. Kennedy passed Thursday of a heart attack.Watch moment he faced worldMore headlinesGuide to Ferguson developmentsEbola cases could spur lawsuits
  • NYC has been struck by first case of Ebola

    24 Oct 2014 | 2:46 am
    NYC has been struck by first case of EbolaAPOfficials confirmed Dr. Craig Spencer, 33, tested positive for the virus Thursday, but attempted to ease concerns about spreading.Hospital he's being treated atMore coverage on EbolaWife, two friends quarantinedCDC details new response teams
  • add this feed to my.Alltop

  • Latest actor to play Jobs didn't need to audition

    24 Oct 2014 | 2:46 am
    Latest actor to play Jobs didn't need to auditionGettyIn an upcoming biopic about the late Apple visionary, this Academy Award winner got the gig because the project 'needed the best.'Next star to don the turtleneck is ...More in entertainmentSinger calls Miley Cyrus 'a hick' 'Star Wars' plot holes revealed
  • Heartbreaking sight at home of slain soldier

    24 Oct 2014 | 2:46 am
    Heartbreaking sight at home of slain soldierFacebookA moving scene emerged at a makeshift vigil for Cpl. Nathan Cirillo, the reservist killed in a terrorist attack in Ottawa. Warning: Pics may make you cryRelated coverageCanada signals shift in terror fightDetails emerge about shooter
  • Randy Jackson on taking control of his disease

    24 Oct 2014 | 2:46 am
    Randy Jackson on taking control of his diseaseGettyThe former 'American Idol' judge revealed the routine he follows to stay healthy.Secrets to his successMore from Everyday Health9 facts about your liverTraveling with ADHD kids
  • RFK aide, Frank Mankiewicz, has died at age 90

    24 Oct 2014 | 2:46 am
    RFK aide, Frank Mankiewicz, has died at age 90GettyThe press secretary who went before TV cameras to announce the death of Sen. Robert F. Kennedy passed Thursday of a heart attack.Watch moment he faced worldMore headlinesGuide to Ferguson developmentsEbola cases could spur lawsuits
  • NYC has been struck by first case of Ebola

    24 Oct 2014 | 2:46 am
    NYC has been struck by first case of EbolaAPOfficials confirmed Dr. Craig Spencer, 33, tested positive for the virus Thursday, but attempted to ease concerns about spreading.Hospital he's being treated atMore coverage on EbolaWife, two friends quarantinedCDC details new response teams
 
  • add this feed to my.Alltop

  • Latest actor to play Jobs didn't need to audition

    24 Oct 2014 | 2:46 am
    Latest actor to play Jobs didn't need to auditionGettyIn an upcoming biopic about the late Apple visionary, this Academy Award winner got the gig because the project 'needed the best.'Next star to don the turtleneck is ...More in entertainmentSinger calls Miley Cyrus 'a hick' 'Star Wars' plot holes revealed
  • Heartbreaking sight at home of slain soldier

    24 Oct 2014 | 2:46 am
    Heartbreaking sight at home of slain soldierFacebookA moving scene emerged at a makeshift vigil for Cpl. Nathan Cirillo, the reservist killed in a terrorist attack in Ottawa. Warning: Pics may make you cryRelated coverageCanada signals shift in terror fightDetails emerge about shooter
  • Randy Jackson on taking control of his disease

    24 Oct 2014 | 2:46 am
    Randy Jackson on taking control of his diseaseGettyThe former 'American Idol' judge revealed the routine he follows to stay healthy.Secrets to his successMore from Everyday Health9 facts about your liverTraveling with ADHD kids
  • RFK aide, Frank Mankiewicz, has died at age 90

    24 Oct 2014 | 2:46 am
    RFK aide, Frank Mankiewicz, has died at age 90GettyThe press secretary who went before TV cameras to announce the death of Sen. Robert F. Kennedy passed Thursday of a heart attack.Watch moment he faced worldMore headlinesGuide to Ferguson developmentsEbola cases could spur lawsuits
  • NYC has been struck by first case of Ebola

    24 Oct 2014 | 2:46 am
    NYC has been struck by first case of EbolaAPOfficials confirmed Dr. Craig Spencer, 33, tested positive for the virus Thursday, but attempted to ease concerns about spreading.Hospital he's being treated atMore coverage on EbolaWife, two friends quarantinedCDC details new response teams
  • add this feed to my.Alltop

    CEN-TA Cross Border Services - Tax, Visa

  • IRS Removes From 8891

    peter
    14 Oct 2014 | 10:34 am
      *****IRS removes form 8891****    
  • Department of the Treasury Announces A New FBAR Reporting Method

    peter
    28 Jan 2014 | 10:58 am
    FinCEN introduces new forms
  • U.S. taxman to go easy on American residents in Canada

    Admin
    5 Dec 2011 | 1:17 pm
    barrie mckenna OTTAWA— From Friday's Globe and Mail Published Friday, Dec. 02, 2011 6:00AM EST
  • BORDER KIT -- American boyfriend, property purchase in USA?

    Taxman
    4 Jan 2011 | 10:01 pm
      I have been subscribing to your newsletter for almost two years now, but have not read anything similar to my question.   I have been dating an American for over seven years now.  I live in Saskatchewan and work in health care as a technologist, him in USA as an electrician. We both travel back and forth three or four times each per year for about 12 days each.   We both rent.   If I bought an American property ie condo, my boyfriend moved in it and paid the property taxes, and other incidentals, would this be considered rental income for me? Or a…
  • aging parents - Expert Income Tax help on cross Border tax and immigration and divorce and RRSP and IRA and other matters

    Taxman
    4 Jan 2011 | 9:59 pm
    we have dual citizenship in USA and Canada.  Due to aging parents we are considering spending more time in USA.  I understand that spending more than 6 months in USA would require us to change our residency to USA ( both of us born in USA). Our residency now is Ontario. I understand also that any income in USA is taxed only in USA and not in Canada if residency is USA?  But my main question is..... concerning health care from Ontario you are required to be there five months a few days, but, having dual citizenship, are we able to take advantage of being up in Ontario the…
 
  • add this feed to my.Alltop

    Value Added Tax Blog

  • Sale of software outside the U.S.

    Mark
    16 Oct 2014 | 7:25 am
    That was a quick but fun call this morning with the good people from Collobos Software. They produce software that is typically purchased by businesses and they have a growing customer base outside the U.S. For VAT in the EU, the sale of software business-to-business means that the place of supply is where the recipient […]
  • Next up: Costa Rica

    Mark
    3 Oct 2014 | 10:17 am
    #143368765 / gettyimages.com The Wall Street Journal writes about Costa Rica’s plan to accelerate the introduction of a 13% VAT: http://blogs.wsj.com/frontiers/2014/09/23/costa-rica-to-accelerate-vat-reform-after-downgrade/. “One of the reasons why Moody’s decided to downgrade us was because the incapacity of governments in the past to agree with the legislature for comprehensive tax reform,” Mr. Solís said in the interview. Hat-tip: […]
  • Oh, those 2015 rules…

    Mark
    20 Sep 2014 | 11:35 am
    It seems like every VAT consultant, in the US and in the EU, has jumped on the new EU VAT rules that kick in on January 1, 2015. I have not paid as much attention to the changes, simply because the impact on U.S. companies is rather limited. As a reminder, this is about the supplies […]
  • Scandia – supplies to a branch

    Mark
    20 Sep 2014 | 11:14 am
    In a wholly unsurprising ruling the European Court of Justice ruled last week that supplies by a head-office to a branch are within the scope of VAT if the branch is part of a VAT group / fiscal unity. The Netherlands at least has had this rule in their regulations for decennia, but see here […]
  • OECD news: BEPS

    Mark
    20 Sep 2014 | 10:54 am
    “Base Erosion & Profit Shifting” sounds like something that has nothing to do with VAT. VAT expert James Robinson penned his thoughts on this OECD initiative – well worth a read.
  • add this feed to my.Alltop

    J. Stefan - EzineArticles Expert Author

  • No Articles Found

    24 Oct 2014 | 3:08 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.

  • Meet Joe the Window Washer

    Jason Dinesen
    23 Oct 2014 | 4:30 am
    Meet Joe. He’s a window washer, one of the best in the country. He’s developed his own window-washing systems and cleaning solutions. Joe’s business is the envy of other window washers. They call him, wanting to know his secrets. Joe’s customers love him. Joe started his business because he had a knack for washing windows, and he wanted freedom from “workin’ for the man.” Joe just wants to wash windows and be left alone by the world. He hates the government. He hates regulations. He hates paperwork, whether it’s government-related, or…
  • Iowa Tax Filing Deadline is October 31: Claim Your $54 Credit Before Then

    Jason Dinesen
    21 Oct 2014 | 4:30 am
    The extended deadline for filing Iowa income tax returns is October 31. This year’s deadline has some added meaning, because it’s also the deadline for claiming the $54 Iowa Taxpayers Trust Fund Credit. The credit is $54 per primary taxpayer. So a single person gets $54, and a married couple is allocated $108 total. I outlined details of the credit in a blog post in February, which you can find here. Unlike most tax credits, which can typically be claimed whenever you file your tax return (even if it’s filed late), the Iowa Taxpayers Trust Fund Credit for 2013 tax returns…
  • Updated Wisconsin Tax Guidance for Same-Sex Married Couples

    Jason Dinesen
    17 Oct 2014 | 4:30 am
    Earlier this month, the U.S. Supreme Court declined to hear appeals to cases overturning same-sex marriage bans in several states, including Wisconsin. As a result, same-sex marriage is now legal in those states. From a tax perspective, Wisconsin released guidance earlier this week saying that couples in same-sex marriage can now file joint Wisconsin tax returns. Previously, Wisconsin had said same-sex couples needed to file separate Wisconsin tax returns as single people, and recalculations may need to be done in arriving at Wisconsin taxes. That all goes away now: Previously, same-sex…
  • My Response to the IRS Saying I Can’t Speak On My Own Behalf

    Jason Dinesen
    15 Oct 2014 | 4:30 am
    Some readers have been curious as to how I responded to the IRS saying I’m not authorized to speak on my own behalf. Since my dispute with the IRS is over a silly clerical matter, I’m fine with sharing details relating to this case. To recap: I think my company is supposed to use Form 941 to report payroll; the IRS says I’m supposed to use Form 944. All payroll taxes have been paid. This is purely a clerical matter over which form to use for my very simple payroll reporting. If the IRS had simply said, in their September 22nd letter, that they think I’m supposed to…
  • Glossary: Filing Status

    Jason Dinesen
    13 Oct 2014 | 4:30 am
    Federal tax returns allow for 5 filing statuses on a tax return: Single Head of household Married filing jointly Married filing separately Qualifying widow(er) Single Straightforward. An unmarried person who (generally) doesn’t have kids. It’s also possible that an unmarried who has kids might not qualify for head of household filing status and so they would also file as single. Head of Household Generally refers to an unmarried person who has kids. In order to qualify for this status, the taxpayer must pay more than 50% of the costs of maintaining the home. Married Filing…
 
  • add this feed to my.Alltop

    IncomeTaxReturnIndia.com

  • How to Pay TDS on sale of Immovable property

    Sapna Gupta
    19 Oct 2014 | 12:30 am
    TDS is applicable on sale of immovable property as per Finance Bill of 2013. Where in the sale consideration of property is equal or exceeds to Rs. 50,00,000. According to Sec 194 IA, the Income Tax Act, 1961 TDS is applicable from from June 1, 2013  for sale of poperty excessding Rs 50 lacs. … Continue reading →
  • Check your PAN Name, Verify PAN

    Sapna Gupta
    18 Oct 2014 | 2:46 am
    Check your PAN Name, Verify PAN Their is frequent queries on how can i verify pan details, PAN no income tax assessing officer ward and circle no. or how can i track status of my PAN application status. To know about PAN related information including PAN address and PAN details, … Continue reading →
  • LIC Jeevan Shagun Single Premium Policy provides insurance and good returns

    Tax Dost
    9 Sep 2014 | 5:34 pm
      LIC Jeevan Shagun is new Money Back Plan Single premium policy from LIC. Jeevan Shagun (Plan No. 826) is good option as it provides good return and is available against one time payment. Jeevan Shagun is  a close ended plan which would be open for sale from 01 September , 2014 … Continue reading →
  • Late filing of Income tax Return after 31.07.2014

    Tax Dost
    3 Aug 2014 | 4:04 am
    Due date for filing tax return was 31.07.2014 ( 31 st July ) for all Individuals getting salary and running their own business or profession or working as free lancer. Due date for assessee who are required to get their books audited, the last date for filing return is 30th September. … Continue reading →
  • Return Filing camp in Delhi will remain open on Saturday and Sunday

    Tax Dost
    25 Jul 2014 | 9:45 am
    Income Tax Return filing Camp will start from 25th july 2014 till 31 st july 2014. These camps will remaim open on Saturday ( 27 th July 2014) and Sunday ( 28th july 2014) Location of these camps: In Delhi These camps will be held at Pratyakshar Bhawan, Civic City … Continue reading →
  • add this feed to my.Alltop

    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 Lien Sales – Who Can Invest?

    eluke
    8 Sep 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 Certificates – Predictable, Certain, And Secure

    eluke
    9 Aug 2014 | 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 Jun 2014 | 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 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

    Blog

  • Recovering Administrative Costs in Tax Appeals

    Bill Hartsock
    16 Oct 2014 | 4:37 pm
    At the end of the Tax Appeals process, many taxpayers wonder if they will be able to recoup certain costs incurred in dealing with the IRS. Although it may not be easy, it is actually possible to obtain administrative costs, including attorney’s fees, following an Tax Appeals process. By filing a well-timed administrative claim for administrative costs or a “qualified offer,” the taxpayer may be able to do so.Tags: Tax Appeal Information & Advice From The Tax LawyerRead more about Recovering Administrative Costs in Tax Appeals
  • Settlement Agreement Forms For Tax Tax Appeals Cases

    Bill Hartsock
    9 Oct 2014 | 11:38 am
    When you finally come to an agreement with the Tax Appeals Officer to settle your case, the settlement should be recorded on a particular type of written form. In general, the IRS uses one of four forms for cases settled in Tax Appeals: Form 870, the waiver of restrictions on assessment; Tags: Tax Appeal Information & Advice From The Tax LawyerRead more about Settlement Agreement Forms For Tax Tax Appeals Cases
  • Settlement of Related Cases in Tax Appeals

    Bill Hartsock
    8 Oct 2014 | 10:54 am
    Sometimes, a taxpayer’s case may involve issues that will impact the taxpayer for years to come. Thus, an agreement with the Tax Appeals Office can affect the taxpayer’s tax return for the current year, future years, as well as related issues on those tax returns. For this reason, it may be beneficial to both parties if consistent action is taken on both related issues.Tags: Tax Appeal Information & Advice From The Tax LawyerRead more about Settlement of Related Cases in Tax Appeals
  • Considerations For Making A Tax Appeals Settlement Offer

    Bill Hartsock
    6 Oct 2014 | 11:59 am
    If you have reached the tax appeals stage and you are considering making a settlement offer to the Tax Appeals officer, there are certain things to keep in mind. As a general rule, Tax Appeals officers will give serious consideration to any good-faith attempt to settle the matter. A nuisance-value offer will simply be ignored. If you make a good-faith offer that the Tax Appeals officer believes is unacceptable, they may counteroffer or describe some other basis upon which your settlement offer might be accepted.Tags: Tax Appeal Information & Advice From The Tax LawyerRead more about…
  • How to Avoid New Issues or a Reopened Case in Tax Appeals

    Bill Hartsock
    2 Oct 2014 | 10:15 am
    One of the greatest concerns of a taxpayer in the tax appeal process is that the appeals officer will discover new issues to investigate or choose to reopen a closed case. In 2012, the IRS released a new set of protocols for tax appeals Officers to follow. Under the appeals Judicial Approach and Culture Program (AJAC), the IRS stressed that the job of appeals is not to raise additional issues or legal arguments (1).Tags: Tax Appeal Information & Advice From The Tax LawyerRead more about How to Avoid New Issues or a Reopened Case in Tax Appeals
 
  • add this feed to my.Alltop

    Bankrate.com » Taxes

  • Tax auctions over tiny amounts

    Kay Bell
    23 Oct 2014 | 9:50 am
    Tiny unpaid property tax amounts can lead to major problems, including loss of a home to a tax auction sale. Make sure your taxes are paid!
  • Time to make year-end tax moves

    Kay Bell
    21 Oct 2014 | 8:42 am
    Dec. 31 will be here before you know it, so take some time now to make year-end tax moves that could lower your 2014 IRS bill.
  • Treasury takes in record $3 trillion

    Kay Bell
    16 Oct 2014 | 10:47 am
    The federal deficit continues to fall, thanks in large part to the record number of taxes Uncle Sam collected in fiscal year 2014.
  • Local politics, taxes and elections

    Kay Bell
    14 Oct 2014 | 11:58 am
    More personal, local concerns, especially when it comes to taxes, often shape voting trends and election outcomes.
  • High tax cost of cellular service

    Kay Bell
    9 Oct 2014 | 10:57 am
    Cell phones are more popular than ever, despite the large amount of taxes assessed on the services.
  • add this feed to my.Alltop

    Sales Use Tax

  • Amazon Increases Costs for Customers Again

    Jerry Donnini
    23 Oct 2014 | 2:34 pm
    In October, 2014, Amazon customers will be charged higher prices in two more states. Specifically, effective October 1, 2014, Amazon began charging customers located in Maryland and Minnesota sales tax on purchases from the online retailer. This marks the 22nd … Continue reading →
  • Selecting a Tax Automation Solution: 5 Options to Consider

    Diane Yetter
    21 Oct 2014 | 12:15 pm
    For companies that sell in multiple jurisdictions, having an automated tax transaction solution in place to manage sales and use tax functions is necessary. There are many benefits to an automated tax solution, most importantly reduced errors and increased productivity. … Continue reading →
  • DC Sales Tax Reform: Broadening Base Demonstrates Good Tax Policy

    Annette Nellen
    6 Oct 2014 | 9:15 am
    In May 2014, the D.C. Tax Revision Commission released its report outlining numerous changes for its key taxes. Included in the sales tax recommendations: Expand the base to include more services with a focus on those that are mostly used … Continue reading →
  • Colorado Statute of Limitations: Watch Dates in Home Rule Cities

    Keith Crichton
    16 Sep 2014 | 4:49 pm
    Article XX, Section 6 of the Colorado Constitution grants a great deal of authority to the state’s Home Rule cities.  However the legislature determined “that the enforcement of sales and use taxes can affect persons and entities across the jurisdictional … Continue reading →
  • Colorado DMA “Amazon Tax ” Case Moves Forward

    Jerry Donnini
    12 Sep 2014 | 9:59 am
    Direct Marketing Association has continued its fight for consumer privacy with Colorado. Specifically, DMA filed its opening brief in the Supreme Court of the United States on September 9, 2014. The Supreme Court will hear the case during its upcoming … Continue reading →
  • add this feed to my.Alltop

    US Tax Program

  • 18 law Firms Representing Swiss Banks Wrote to the DoJ

    admin
    24 Oct 2014 | 2:21 am
    According to Reuters, 73 of the hundred of Category 2 Swiss banks wrote an 11 page letter to the US Department of Justice (DoJ) via 18 law firms asking the DoJ to clarify and reconsider its latest model Non-Prosecution Agreement (NPA). 12 points are raised relates the NZZ. For example a clear end date of the cooperation is required, the proposal is 2 years. The model NPA requires banks to  cooperate with any US and even foreign governmental institutions identified by the DoJ on criminal investigations. The letter then requires a clear limitation to the DoJ for the cooperation. This…
  • Having Settled its Tax Dispute with the US in Q2, Credit Suisse Announces Profits in Q3

    admin
    23 Oct 2014 | 2:55 am
    Credit Suisse paid a fine of $2.6m in May 2014 to settle its tax dispute with the US. Today they announced the Q3 and YTD results. The net profit more than doubled on a YTD basis and the pre-tax profit reached c.a. $1.4m. The investment bank increased doubled its pre-tax profit from a year earlier. Credit Suisse increased its Tier I ratio to 14.3%, well above the Basel III requirements.
  • Former UBS Employee, Georg Marti, Involves Raoul Weil in Client Meetings in the US

    admin
    23 Oct 2014 | 2:07 am
    On Tuesday and Wednesday, Georg Marti, a former UBS employee, appeared in court in the federal court in Florida and asserts that he conducted meetings with US clients on US soil with Raoul Weil. Georg Marti was a relationship manager based in Zuerich at that time. Georg Marti resigned the day Martin Liechti, then head of wealth management America, was arrested in the US. After a couple of meeting with the US Department of Justice (DoJ) and the Internal Revenue Services (IRS), Georg Marti accepted to cooperate and received on October 15, 2014, a non-prosecution agreement. According to Le Temps…
  • Changing Categories Could be an Option for Banks In Category 2

    admin
    22 Oct 2014 | 3:05 pm
    The Neue Zuercher Zeitung explores the alternatives that Category 2 banks of the US Program have at this stage, i.e. after receiving a draft of a Non-Prosecution Agreement (NPA) asking for full cooperation without an end date. People familiar with the matter state that the NPA cannot be signed in its present form and contradict the agreement signed in August 2013. The reaction to this can be  many fold: The banks can stay in Category 2 but negotiate the NPA and cooperate only within the framework of Swiss laws. As a group the banks could join forces to go back to the DoJ to clarify and…
  • A Hampton Man pleaded Guilty of Having Maintained Offshore Accounts

    admin
    21 Oct 2014 | 10:40 am
    From 2006 to 2008, a New Hampshire man, Menashe Cohen, failed to report his offshore accounts in the Channel Islands, Israel and Switzerland. In 2009 he filed an Foreign Bank and Financial Accounts (FBAR) form but still failed to report his UBS account. On January 26, 2015, Mr. Cohen faces a sentence of max 3 years in prison and a  fine of $250k.  According to the US Department of Justice (DoJ) Mr. Cohen has agreed to ‘resolve his civil liability for failing to report his financial interest in the UBS account on a FBAR by paying a 50 percent civil penalty to the IRS based on the high…
 
Log in