Many companies selling goods on the internet currently enjoy the exclusion of collecting and remitting sales taxes giving them a competitive price advantage over local retailers on the same products. But it appears that’s all about to change! Read more »
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December is year end tax planning month – the month you look at your finances and scramble to make some year-end changes that can help reduce your taxes come tax time. There are not tax secrets – just great planning. Here’s 12 great income tax tips, or ways to save on taxes for 2011 that may just save you boatloads of dough. Read more »
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A really funny thing happened to me today in a tax audit. Read more »
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FORT LAUDERDALE – The Internal Revenue Service today announced special tax relief for residents of the Miami-Dade County Presidential Disaster Area that was struck by severe storms and tornadoes on March 27 [SFL 2003-07, May 2, 2003]. Read more »
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The Internal Revenue Service is providing tax relief to individual and business taxpayers impacted by Hurricane Irene.
Certain taxpayers in North Carolina, New Jersey, New York, Vermont and Puerto Rico will receive tax relief, and other locations are expected to be added in coming days following additional damage assessments by the Federal Emergency Management Agency (FEMA).
The tax relief postpones certain tax filing and payment deadlines to Oct. 31, 2011. It includes corporations and businesses that previously obtained an extension until Sept. 15, 2011, to file their 2010 returns and individuals and businesses that received a similar extension until Oct. 17. It also includes the estimated tax payment for the third quarter of 2011, which would normally be due Sept. 15.
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Companies using QuickBooks, Peachtree or other popular accounting software have greater risk in IRS audits, or IRS examinations than ever before. Read more »
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Second Special Voluntary Disclosure Initiative Opens; Those Hiding Assets Offshore Face Aug. 31 deadline Read more »
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In Notice IR-2010-122 (December 9, 2010) IRS Commissioner Doug Schulman addressed IRS intentions to focus on tax evasion as it relates to international taxes in the forthcoming year. Read more »
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In a reviewed opinion appealable to the Sixth Circuit, the Tax Court has once again invalidated Reg. § 1.6015-5(b)(1), which provides that a spouse must request equitable relief under Code Sec. 6015(f) no later than two years from the first collection activity against the spouse. Read more »
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Did you know that your summer day care expenses may qualify for an income tax credit? Many parents who work or are looking for work must arrange for care of their children under 13 years of age during the school vacation. Those expenses may help you get a credit on next year’s tax return. Read more »
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