IRS acquiesces to TLC Leasing – explains meals deduction limit in employee leasing setting Rev Rul 2008-23, 2008-18 IRB
TRUCKER TAX RELIEF & TRUCKER TAX PROBLEM RESOLUTION
Trucking Tax & Accounting: Back Taxes – Unfiled delinquent tax returns – IRS & State audits – Messy books / accounting
IRS Begins Focus on Foreign Athletes and Entertainers
The IRS recently launched an Issue Management Team focused
on improving U.S. income reporting and tax payment compliance by foreign athletes and entertainers who work in the United States. The initial focus is on those engaged in tennis, golf and music. These individuals and those associated with arranging their appearances in the U.S. and managing their financial affairs are typically high income individuals. Because of this, it is important to ensure proper tax reporting and payment.
Failure to follow IRS procedure prevented use of longer NOL carryback
Tualatin Valley Builders Supply, Inc. v. U.S. 101 AFTR 2d ¶ 2008688
IRS rules that withholding exceptions for employees in foreign country don’t apply – Chief Counsel Advice 200814010
Foreclosure Prevention Act of 2008 – S
enate passes housing stimulus bill
Mike Habib, EA
myIRSTaxRelief.com
On Apr. 10, the Senate by a vote of 84 to 12 approved H.R. 3221, the “Foreclosure Prevention Act of 2008,” the Senate housing stimulus bill. Before final passage of the bill, the Senate approved an amendment offered by Senator John Ensign (R-NV) that would extend various clean energy production incentives.
Memo explains how state property tax credits are taxed and reported – Chief Counsel Advice 200814022
IRS wrongfully revoked DLC’s tax-exempt status
Democratic Leadership Council, Inc. v. U.S., 101 AFTR 2d ¶ 2008-661
Kickback Income Tax Fraud – Ballard finally prevails in reversal by Eleventh Circuit
Ballard, (CA 11 4/7/2008) 101 AFTR 2d ¶ 2008-659
Avoiding IRS Tax Penalties and the Tax Gap
Mike Habib, EA
myIRSTaxRelief.com
IRS — The Internal Revenue Code imposes many different kinds of penalties, ranging from civil fines to imprisonment for criminal tax evasion.
If you do not file your return and pay your tax by the due date, you may have to pay a penalty. You may also have to pay a penalty if you substantially understate your tax, understate a reportable transaction, file an erroneous claim for refund or credit, or file a frivolous tax submission. If you provide fraudulent information on your return, you may have to pay a civil fraud penalty.
Tax Relief Blog