IRD – Income In Respect of a Decedent All income the decedent would have received had death not occurred that was not properly includible on the final tax return is income in respect of a decedent. If the decedent is a specified terrorist victim (see Specified Terrorist Victim, earlier), income…
Plane was crashed into Austin building by man angry at IRS, authorities say A software engineer is presumed dead after flying his small plane into an office building. At least 13 people on the ground are injured and one is unaccounted for. Source: LA Times By Richard Fausset and Richard…
Entertainment Industry Income tax help Every working Entertainer in the US is required to file his or her income tax returns on time and this means going through every receipt and transaction made throughout the previous year to make sure that everything is properly and accurately reported. Unfortunately, filing your…
Prepared Remarks of IRS Commissioner Doug Shulman to New York State Bar Association Taxation Section Annual Meeting in New York City, Jan. 26, 2010 It’s a great honor to address the New York State Bar Association Taxation Section. I look forward to beginning a dialogue with you that will start…
President Announces Middle-Class Tax Relief and Retirement Incentives President Obama plans to propose a near doubling of the Child and Dependent Care Tax Credit for middle-income families earning under $85,000, establishment of a system of automatic 401(k) enrollments and simplifying and expanding the Saver’s Tax Credit. These initiatives will be…
IRS Announces Qualified Disaster Treatment for Haiti The Internal Revenue Service today issued guidance that designates the earthquake in Haiti in January 2010 as a qualified disaster for federal tax purposes. The guidance allows recipients of qualified disaster relief payments to exclude those payments from income on their tax returns.…
Southern California Tax Relief Services IRS tax Relief, FTB tax Relief, BOE tax Relief, EDD tax relief At Mike Habib, EA, a SoCal tax firm, we understand that being notified that your tax return is being challenged by the IRS or the FTB can be scary. When you are faced…
National Taxpayer Advocate Annual Report National Taxpayer Advocate Nina E. Olson today released her annual report to Congress, warning that increased demands on the IRS have eroded the agency’s ability to meet taxpayer service needs and expressing concern that IRS collection practices are harming financially struggling taxpayers without producing significant…
Tax Relief – Short List Tax relief is a term that refers to providing tax problem resolution and relief from the fear and burden of the mounting tax liability. Tax relief is provided on a federal and state level. Want tax relief? There are several reasons on why you may…
Tax Problems – Tax Problem Resolution When tax problems occur, it can be difficult to hide from the IRS. Being familiar with these tax problems allow you to recognize them as soon as they occur. Whether you are an individual or a business entity, make sure that you are aware…