Louisiana: Tax Amnesty Program Enacted The Louisiana Tax Delinquency Amnesty Act of 2009, which requires the Department of Revenue () to develop and implement a tax amnesty program to be effective for a period not to exceed two consecutive calendar months between July 1, 2009, and June 30, 2010, at…
Top Seven Tips for Taxpayers Starting a New Business IRS Summertime Tax Tip 2009-02 Anyone starting a new business this summer should be aware of their federal tax responsibilities. Here are the top seven things the IRS wants you to know if you plan on opening a new business this…
Construction Industry Tax Issues Accumulated Earnings Tax Closely held C corporations are more likely to accumulate earnings and profits beyond the reasonable needs of the business in order to avoid income taxes on its shareholders than are large C corporations. Each accumulated earnings case is unique. No pro forma guide…
Registered Warrants Can Pay Your State Income Tax Bill (Sacramento) – The Franchise Tax Board (FTB) announced it accepts California registered warrants (IOUs) as payment of current and past due personal and corporate tax obligations. To pay a tax liability with an IOU, endorse the IOU on the reverse side…
IRS Did Not Fail to Properly Credit Checks Against Married Couple’s Tax Liability (Kovacevich, TCM) The IRS properly credited five checks toward the outstanding tax liability of a law firm and not the individual tax liability of an attorney and his wife. For the tax year at issue, the taxpayer/husband…
Abusive Tax Evasion Schemes Resolve your tax problem and get tax relief today! Examples of Abusive Tax Scheme Investigations – Fiscal Year 2009 The following examples of abusive tax schemes are written from public record documents on file in the courts in the judicial district in which the cases were…
CA New Home Tax Credit Going Fast Sacramento – The Franchise Tax Board (FTB) announced today that the $100 million allocated by the state in new home tax credits will soon be gone. As of June 17, 2009, FTB had received more than 9,800 applications claiming nearly $95 million. Because…
Enrolled Agent vs. Tax Attorney / Tax Lawyer Dealing with tax problems entails a good amount of hard work and stress, which is why it is not advisable to deal with such problems on your own. It requires that you have a fair understanding not only of the taxation process…
Tax Relief for Truckers – Truck Drivers Trucking Tax & Accounting: Back Taxes – Unfiled delinquent tax returns – IRS & State audits – Messy books / accounting In face of tighter enforcement measures that the IRS is expected to use to strengthen its tax collection and monitoring policies, tax…
Tax Relief for Realtors It is very important for real estate professionals to act on tax problems like excessive tax debt, unfiled returns, back taxes, and self employment tax before these aggravate into expensive and potentially damaging problems. Tax problems the likes of those enumerated above can seriously hurt an…