Recap of recent state employment tax laws, developments, and changes taking effect in July Several states and localities are making employment tax changes that take effect in July. In addition, several new employment tax laws and developments have occurred recently. Here are some of the highlights from the following states:…
Choosing a Business Structure FS-2008-22 Of all the choices you make when starting a business, one of the most important is the type of legal organization you select for your company. This decision can affect how much you pay in taxes, the amount of paperwork your business is required to…
IRS urged to increase standard mileage reimbursement rates Several requests have been made to the IRS in recent days to increase its standard mileage rates. The standard mileage rate for use of a car (including vans, pickups, and panel trucks) is currently 50.5 cents per mile for business-related travel, and…
Appeals Court overturns oil company’s large claim of right refund Texaco v. U.S. (CA 9 6/13/2008) 101 AFTR 2d ¶ 2008889 The Court of Appeals for the Ninth Circuit has reversed a district court award of an over $100 million refund claim to a large oil company, which had sought…
Why the company car is still a valued fringe benefit for company owners and key employees A company car has long been an extremely popular “perk” or fringe benefit for company owners and key employees of medium sized or small enterprises. As this article demonstrates, this benefit yields substantial nontax…
IRS may prepare substitute returns in worker classification cases Chief Counsel Advice 200822026 A Chief Counsel Advice (CCA) has concluded that, in employment tax cases where worker classification issues are present, revenue officers have authority under Code Sec. 6020(b) to prepare employment tax returns, but the requirements of Code Sec.…
IRS Announces ‘Dirty Dozen’ Tax Scams for 2008 Phishing Scams, Fuel Tax Credits, Frivolous Arguments, Hiding Income Offshore Top the 2008 Tax Scams WASHINGTON — The Internal Revenue Service today issued its 2008 list of the 12 most egregious tax schemes and scams, highlighted by Internet phishing scams and several…
Tax Problem Resolution Services I specialize in resolving tax problems for individuals, small-size companies, mid-size companies, and fortune 1,000 companies. I represent individuals and businesses before the IRS and any taxing authority, therefore the taxpayer does not have to deal with the IRS directly. Mike Habib, EA IRS strengthened enforcement…
Tax provisions directly affecting farmers in the Heartland, Habitat, Harvest, and Horticulture Act of 2008 The recently enacted “Heartland, Habitat, Harvest, and Horticulture Act of 2008” (the 2008 Farm Act) contains a package of tax changes including specialized tax breaks for the farming industry (along with a crackdown on farm…
Overview of the tax changes in the Heartland, Habitat, Harvest, and Horticulture Act of 2008 The recently enacted “Heartland, Habitat, Harvest, and Horticulture Act of 2008” (the 2008 Farm Act) contains a package of tax changes including specialized tax breaks for the farming industry (along with a crackdown on farm…