Takeaways:Even if it is not required to report estate taxes, IRS Form 706 should be filed if there is any chance that a portability election will be beneficial. Portability-only filings are likely to become even more common once the current higher estate and gift tax exemption amount sunsets ...
March 1, 2023 IMAGE BY AELITTA/GETTY IMAGES EXECUTIVE SUMMARY Among other notable developments in individual taxation in the 12 months ending October 2022, the Tax Court decided several cases having to do with taxpayers' eligibility for the child tax credit, earned income tax credit, and other ...
On August 21, 2024, the National Taxpayer Advocate issued a statement on the Employee Retention Credit in the form of a blog post.[1]This statement aimed to provide taxpayers with comprehensive information regarding the subsequent procedures for those who have recently received a Notice of Disallowa...
Professionals such as accountants, lawyers, real estate agents etc. People that could/should play a crucial role in detecting illicit financial flows. Continue reading Exposing Illicit Financial Flows and Tax Crimes Part 2 (Organized Crime & Corruption Reporting Project). Accounting, Blogpost, Cash ...
Estate/"Death" Tax Exemption AllGambling Expensesare Deductible Losses Earned Income Tax Credit Health and Medical Savings Account Contributions Retirement Plan Contributions Deprecation of Assets Foreign Earned Income Exclusion. Extended American Opportunity Tax Credit || Lifetime Learning Tax Credit ...
8332 Release for Exemption for Child of Divorced Parents 8379 Injured Spouse Claim 8396 Mortgage Interest Credit 8453 U.S. Individual Income Tax Transmittal for an IRS e-file Return 8582 CR Passive Activity Credit Limitations 8582 Passive Activity Loss Limitation 8586 Low-Income Housing Cred...
Professionals such as accountants, lawyers, real estate agents etc. People that could/should play a crucial role in detecting illicit financial flows. Continue reading Exposing Illicit Financial Flows and Tax Crimes Part 2 (Organized Crime & Corruption Reporting Project)....
Furst v. Rebholz,No. SC2020-1479,2023 WL 2799413 (Fla. Apr. 6, 2023) In 1996, Rod Rebholz applied for a homestead exemption for a two-story residential structure. Based on information in Rebholz’s application, county tax officials treated the entire structure as homestead property for tax...
Professionals such as accountants, lawyers, real estate agents etc. People that could/should play a crucial role in detecting illicit financial flows. Continue reading Exposing Illicit Financial Flows and Tax Crimes Part 2 (Organized Crime & Corruption Reporting Project)....
Capital gains taxes are levied on earnings made from the sale of assets like stocks or real estate. Based on the holding term and the taxpayer's income level, the tax is computed using the difference between the asset's sale price and its acquisition price, and it is subject to different...