Get your CA FTB withheld tax refund today by contacting Mike Habib, EA at 877-788-2937 CA Tax Rates According to the California State Franchise Tax Board (FTB), partnerships that are not based in California should file withholding tax on the sale of real estate in the state. The CA tax…
TIGTA audits effectiveness of the Federal Payment Levy Program [Audit Report No. 2009-40-031]: Mike Habib, EA Tax Relief & Tax Problem Resolution An IRS program to collect delinquent taxes through the use of levies needs some changes in order to reduce taxpayer burden, the Treasury Inspector General for Tax Administration…
Tax Relief Services Filing tax returns is a necessary hassle, and everyone – even prudent individuals – are prone to errors. Tax delinquency is becoming a common problem as the harsh economy renders more people incapable of paying their taxes for various reasons. Luckily, resolving delinquent tax liabilities need not…
Homeowners whose debt is forgiven under Treasury’s “Making Home Affordable” initiative may be entitled to tax relief Relief for Responsible Homeowners: Treasury Announces Requirements for the Making Home Affordable Mike Habib, EA Tax Relief & Tax Problem Resolution On Mar. 4, Treasury release the first details on two programs designed…
Fifth Circuit finds tax-exempt hospital’s chairman liable for trust fund penalty Verret v. U.S., (CA 5 2/26/2009) 103 AFTR 2d ¶2009-576 Mike Habib, EA Tax Relief & Tax Problem Resolution In an unpublished per curiam decision, the Court of Appeals for the Fifth Circuit has affirmed a district court’s finding…
Licensed real estate agent’s activities count for PAL qualifying real estate professionals’ exception Agarwal, TC Summary Opinion 2009-29 Mike Habib, EA Tax Relief & Tax Problem Resolution In a Summary Opinion, the Tax Court has held that a licensed real estate agent’s activities counted for purposes of the Code Sec.…
IRS has a check for you Mike Habib, EA Tax Relief & Tax Problem Resolution IR-2009-16, March 3, 2009 WASHINGTON — Unclaimed refunds totaling approximately $1.3 billion are awaiting over a million people who did not file a federal income tax return for 2005, the Internal Revenue Service announced today.…
How small businesses can take maximum advantage of the new longer 2008 NOL carryback Mike Habib, EA Tax Relief & Tax Problem Resolution The American Recovery and Reinvestment Act of 2009, signed into law on Feb. 17, 2009 ( P.L. 111-5 , the “Recovery Act”) allows qualifying small business to…
GAO report says noncompliance with 1099-Misc reporting requirements contributes to the tax gap [GAO-09-238]: Mike Habib, EA Tax Relief & Tax Problem Resolution A “significant problem” may exist regarding the extent to which third party payers fail to submit required Form 1099-MISC information returns, the Government Accountability Office (GAO) said…
President’s budget proposal includes funds to improve IRS: Mike Habib, EA Tax Relief & Tax Problem Resolution President Obama’s fiscal year 2010 budget proposal, totaling $3.6 trillion, includes funding “for a robust portfolio of IRS international tax compliance initiatives,” according to budget documents released on Feb. 26. The new administration…