Employee vs. Independent Contractor – Ten Tips for Business Owners IRS Tax Tip If you are a small business owner, whether you hire people as independent contractors or as employees will impact how much taxes you pay and the amount of taxes you withhold from their paychecks. Additionally, it will…
California – Multiple Taxes: Wildfire Relief Extended to Taxpayers in Three More Counties For taxes and fees they each administer, the California State Board of Equalization (BOE) and the Employment Development Department (EDD) have extended relief to qualifying taxpayers and fee payers who have been affected by wildfires in the…
CEO of Long Distance Phone Service Reseller Personally Liable for Unremitted Taxes (Brinskele, FedCl) An individual who was the chairman, president and CEO (“the CEO”) of a company that resold long distance telephone service had to pay the IRS an assessed penalty plus interest. The term “markup,” in the context…
Clarification of the “Cash for Clunkers” Tax Rules September 2009 – The federal “Cash for Clunkers” program has generated a lot of interest among consumers and we have received many inquires about the tax implications of this popular program. As a result, we are clarifying state tax rules for people…
IRS May Mine Mortgage Data To Flush Out Tax Cheats Source: Dow Jones WASHINGTON -(Dow Jones)- The Internal Revenue Service might scrutinize mortgage interest data more closely to help catch tax cheats, after prompting from an IRS auditor. The tax collector said it will study whether it should make greater…
IRS Sends $122,783 Check by Mistake House Cleaner Sensed it was an Error and Returned Check; IRS won’t Comment SOURCE: CBS A Denver-area house cleaner could hardly believe her eyes when she opened up the mail. She was expecting to pay the Internal Revenue Service, but instead she received a…
IRS to Receive Unprecedented Amount of Information in UBS Agreement WASHINGTON — The Internal Revenue Service and the Department of Justice today announced the successful negotiation of an agreement that will result in the IRS receiving an unprecedented amount of information on United States holders of accounts at the Swiss…
Kentucky Severe Storms and Flooding Victims May Qualify for IRS Disaster Relief Indianapolis — Victims of recent severe storms flooding in Kentucky may qualify for tax relief from the Internal Revenue Service. Following severe storms, flooding and straight-line winds on Aug. 4, 2009, the President declared Jefferson county a federal…
California – Personal Income Tax: 2009 Tax Rate Schedules, Exemption and Other Amounts Released According to figures obtained from California Franchise Tax Board’s Tax Practitioner Liaisons Office, there will be decreases in the indexed 2009 California personal income tax rate schedules, return filing thresholds, standard deduction amounts, itemized deduction limitation…
Watchdog Growls At IRS‘ Audits By Mail Source: forbes.com A new report from the Treasury Inspector General for Tax Administration lends support to growing complaints about the Internal Revenue Service’s big audit-by-mail program. The IRS has increasingly relied on these correspondence audits, focused on one or two narrow issues, to…