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…
Tax relief for Peace Corps volunteers and employees in the Heroes Earnings Assistance and Relief Tax Act of 2008 The recently enacted “Heroes Earnings Assistance and Relief Tax Act of 2008” (the 2008 Heroes Act) contains a wide-ranging package of tax cuts for military personnel and veterans. In addition, a…
Pension plan benefits for military personnel in the Heroes Earnings Assistance and Relief Tax Act of 2008 The recently enacted “Heroes Earnings Assistance and Relief Tax Act of 2008” (the 2008 Heroes Act) provides several important pension plan benefits for military personnel. Specifically, the Act makes the following pension plan…
Overview of tax changes in the Heroes Earnings Assistance and Relief Tax Act of 2008 The recently enacted “Heroes Earnings Assistance and Relief Tax Act of 2008” (the 2008 Heroes Act) provides targeted tax relief for military members and their families, fully offset with tightened expatriation rules, a new rule…
Temporary regs curb abuses in triangular reorganizations involving foreign corporations T.D. 9400, 05/23/2008, Reg. § 1.367(a)-3T, Reg. § 1.367(b)-14T, Preamble to Prop Reg 05/23/2008 IRS has issued temporary (along with final and proposed regs) under Code Sec. 367(b) to curb abusive triangular reorganizations involving foreign corporationssometimes referred to as “Killer…