- 8 Things Your Startup Needs to Do Before the End of the Year
As we barrel toward the end of the 2012, it’s time to tie up any loose ends regarding the financial and legal aspects of your business. Ending the year the right way will give you a running start going into 2013.
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- Are Roth IRA Conversions Still A Viable Strategy?
In 2010, Roth IRA conversions were the talk of the town. You could not pick up a newspaper, magazine or any publication without reading an article about this incredible strategy since the $100,000 modified adjusted gross income limitation had been removed.
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- Congress Approves Cliff Deal, Signaling Future Fights
Congress’ excruciating, extraordinary New Year’s Day approval of a compromise averting a prolonged tumble off the fiscal cliff hands President Barack Obama most of the tax boosts on the rich that he campaigned on.
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- Congress passes fiscal cliff act
Pulling back from the “fiscal cliff” at the 13th hour, Congress on Tuesday preserved most of the George W. Bush-era tax cuts and extended many other lapsed tax provisions.
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- GAO: IRS Could Significantly Increase Revenues by Better Targeting Enforcement Resources
The IRS spends most of its enforcement resources on examinations. Correspondence exams of individual tax returns, which target fewer and simpler compliance issues, are significantly less costly on average than the broader and more complex field exams.
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- IRS Plans Jan. 30 Tax Season Opening For 1040 Filers
Following the January tax law changes made by Congress under the American Taxpayer Relief Act (ATRA), the Internal Revenue Service announced today it plans to open the 2013 filing season and begin processing individual income tax returns on Jan. 30.
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- Keep the IRS Away With Effective Tax Planning
Taxpayers that have undisclosed foreign accounts have a lot to gain from the IRS Amnesty program. The IRS amnesty provides comprehensive tax relief. While the goal is to collect as much tax revenue as possible, the state will waive penalties if you file returns and pay your taxes during the amnesty period.
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- OVDP – The Global Entity's Safety Net
Today's globalized business world has opened up opportunities for enterprises to run business across the length and breadth of the globe.
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- OVDP 2012 & Its Necessary Implications
Under the revised policies of IRS it is essential to make a voluntary disclosure of any undisclosed foreign accounts in order to remain compliant and avert any kind of civil penalties. This also helps to eradicate the risk of legal prosecution under the updated OVDP i.e. Offshore Voluntary Disclosure Program.
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- Overseas Voluntary Disclosure Program
Governments across need to ensure that these enterprises and workforce are compliant with the tax rules and regulations prevalent across.
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- Services Offered by Tax Planning Agencies
An expert tax planning agency helps in planning your taxes and FBAR reporting by providing a comprehensive and meaningful insight on the tax codes that is applicable to the resident individuals of U.S that includes Green Card Holders along with the US citizens.
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- Tax Compliance and IRS Implications
The U.S Government bodies and the IRS are currently engaged in taking proactive measures for making the taxpayers report their undisclosed foreign accounts and foreign entities to avoid any tax penalties that might result from non-compliance with the tax policies. Legally, under the U.S.
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- The 1031 Exchange Blog
A rental is often acquired as a replacement property in a 1031 exchange. 1031 exchanges are a tax deferral strategy recognized by the Treasury Department and the Internal Revenue Service (IRS), also known as Section 1031.
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- The Top Ten Tax Cases of 2012: #9 -The Mortgage Interest Limitation Is More Complicated Than You Realize
Look, I’m not the best dad in the world. I’m not always as “attentive” or “nurturing” as I should be, and yes, sometimes I “go missing from the house for days at a time,” but if there’s one positive side to my shortcomings,
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- While The Fiscal Cliff Keeps You Distracted, The AMT Will Rob You Blind
While the nation’s eyes are affixed firmly on the future tax implications of the fiscal cliff negotiations, few people realize that they stand to pay larger tax bills in 2012 courtesy of a little something Congress could have.
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- Your Money: 13 money-saving tips for 201
Thirteen might not be the luckiest of numbers, but 2013 could be a pretty good year to get on a better financial footing
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- Avoid Penalties and Jail Term with OVDP 2012
Though the objective of the IRS Amnesty 2012 is similar to that of its earlier initiatives i.e., to bring taxpayers that have used undisclosed foreign accounts and undisclosed foreign entities to avoid or evade tax into compliance with United States tax laws, it differs in the framework.
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- Avoiding Penalties with OVDP 2012
Though the objective of the IRS Amnesty 2012 is similar to that of its earlier initiatives i.e., to bring taxpayers that have used undisclosed foreign accounts and undisclosed foreign entities to avoid or evade tax into compliance with United States tax laws, it differs in the framework.
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- Civil Penalties and Criminal Charges
With the IRS Amnesty reopens the Overseas Voluntary Disclosure Program (OVDP), taxpayers must come forward and make a voluntary disclosure of the undisclosed foreign accounts or entities.
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- Foreign Bank and Financial Account Report (FBAR)
Any United States person who has a financial interest in or signature authority, or other authority over any financial account in a foreign country must file FBAR. IN FBAR, there are certain terms that need to be understood clearly in order to avoid confusion.
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