For roughly the last ten years, the internal revenue service has made a fairly major effort to be more taxpayer friendly. The Industry Tax Issue Resolution Program is one such step. Industry Issue Resolution Program After years of living in denial, the IRS has come around to admitting tax forms and procedures may be a […]
Inheritance taxes explained
Reduce inheritance taxes by giving gifts! The inheritance tax is the same thing as the estate tax in the United States, but with a different name depending on the country that you are talking about. The inheritance tax is a tax that is supposed to be levied on the richest people after they die, especially […]
Innocent Spouses – Relief from Taxes
Historically, tax issues arising from bad marriages fell into the category of better or worse for marriages. The IRS granted no innocent spouse tax relief, but has changed its views. Tax Relief When a marriage has problems, finances are almost always one of the elements that contribute to the strife. This can be particularly true […]
Innocent Spouses And The IRS
Historically, tax issues arising from bad marriages fell into the category of better or worse for marriages. The IRS granted no innocent spouse tax relief, but has changed its views. Innocent Spouses And The IRS When a marriage has problems, finances are almost always one of the elements that contribute to the strife. This can […]
IRS Issues Tax Credit Amount For Toyota Camry Hybrid
Prior to January 1, 2006, people purchasing hybrid vehicles were eligible to claim a significant tax deduction. Now they can claim a monstrously large tax credit. IRS Issues Tax Credit Amount For Toyota Camry Hybrid The government attempts to modify the behavior of taxpayers by applying or reducing taxes on certain activities. Alcohol and cigarettes […]
IRS Issues Tax Credit Amounts For GM Trucks
As 2006 rolls along, the IRS is in the process of issuing tax credit amounts to particular hybrid vehicles. The agency has just issued the amounts for a number of GM vehicles. IRS Issues Tax Credit Amounts For GM Trucks As part of the Energy Policy Act of 2005, the tax advantages of owning a […]
IRS Lock-In Letters Whats An Employer To Do,
Employers often ask employees to designate the amount of tax withholdings for paychecks. Occasionally, employees will fail to withhold a sufficient amount in the eyes of the IRS. The IRS will then send a lock-in letter on the amount to be withheld. Whats an employer to do, Withholdings Four taxes must be withheld from employee […]
IRS Obtains More Than 100 Injunctions Against Tax Scheme Promoters
The IRS has obtained civil injunctions against more than 100 promoters of illegal tax avoidance schemes and fraudulent return preparers in an ongoing crackdown that began in 2001. Many of the injunctions, obtained in cooperation with the Department of Justice, also order the promoters to turn over client lists and to cease preparing federal income […]
IRS Owes You Money If You Paid Long Distance Phone Taxes
The IRS has decided to give up the fight on an ongoing legal issue regarding taxes it has collected on long distance telephone services. Here is the scoop. The IRS Owes You Money If You Have Paid Long Distance Phone Taxes Every one of us pays for some form of long distance telephone service. The […]
IRS Simplifies Reporting Requirements for Corps
The IRS is heavily promoting electronic filing options. This promotion has run into problems with corporations because of complex regulations. The IRS is now moving to correct this problem. IRS Simplifies Reporting Requirements for Corps Corporate tax filings are legendary for their complexity, number of forms that must be filed and general burden they create. […]