What you need to know about Tax Court
What you need to know about Tax Court – JD Supra. The US Tax Court is a Federal trial court established by Congress. It is independent from the IRS. The mission is to resolve disputes between Taxpayers and IRS. It
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Pass-Through Treatment: Don’t bite the hand that feeds most Americans!
Pass-Through Treatment: Don’t bite the hand that feeds most Americans! – JD Supra. According to the U.S. Bureau of Labor Statistics (https://www.bls.gov/emp/ep_table_201.htm), the Professional and Business Services (PBS) industry sector accounted for 12.9% of jobs in the U.S. during 2016
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Are You Receiving Income From the “Sharing Economy”? You might owe Taxes and Penalties
Are You Receiving Income From the “Sharing Economy”? You might owe Taxes and Penalties – South Florida Legal Guide.
- South Florida Legal Guide - Supplement for the Miami Herald Business Monday
Do you know which Business Structure to choose when starting a New Business?
Do you know which Business Structure to choose when starting a New Business? JD Supra. When opening a new business, electing a business structure is an important decision. The business structure elected can affect how much will be paid in
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Here is what you need to know about IRS proposed draft of Form 1040 for 2017
Here is what you need to know about IRS proposed draft of Form 1040 for 2017 As a courtesy to Taxpayers, IRS provides an “early release draft” of an IRS tax form. The drafts are not to be used for
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Is your spouse having trouble with the IRS and you didn’t know?
Is your spouse having trouble with the IRS and you didn’t know? JD Supra. In a joint tax return filing, IRS has the right to assess both spouses that sign a joint income tax return under the penalty of perjury.
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New GTO covers Wire Transfers
New GTO covers Wire Transfers – JD Supra On August 22, 2017, FinCEN (Financial Crimes Enforcement Network) published a new Advisory regarding Geographic Targeting Orders (GTOs) covering residential real estate transactions in certain counties or boroughs of New York, Florida, California, Texas
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Greedy Charitable Contribution Deductions May Cost You
Greedy Charitable Contribution Deductions May Cost You Taxpayers are not required to pay a negligence penalty for underpayment of income taxes if, under Internal Revenue Code regulations, there is reasonable cause for a position that the Taxpayer takes in an
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Watch out if you are an Expatriate US Passport Holder with Tax Debt and receive Notice CP-508C!
According to the US Department of State, there are approximately nine (9) Million US passport holders living overseas. There continues to be a misimpression by certain US Taxpayers living overseas that they are not required to file US income tax
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Out of Compliance Taxpayers: Beware of new IRS-Programs!
The IRS-Criminal Investigation Unit (IRS-CI) is the Criminal Law Enforcement Arm of the IRS. Its conviction rate of over 90% is one of the highest in federal law enforcement. Those convicted pay taxes, penalties and interest with the Courts imposing
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Taxpayer, Was Your Conduct Non-willful?
Taxpayer, Was Your Conduct Non-willful? – South Florida Legal Guide
- South Florida Legal Guide Supplement for the Miami Herald - Business Monday
Does investing in a PFIC make sense given FATCA reporting?
Since FATCA’s implementation in 2010, investing in a Passive Foreign Investment Company (PFIC) is a questionable decision. PFICs are reportable investments and their tax regime is punitive. Under FATCA, US Taxpayers’ undisclosed foreign financial holdings are available to IRS through
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