Business taxpayers will be able to electronically file their returns on Jan. 15. As for individual filers who make more than the Free File AGI threshold, they can start using Free File's Fillable Forms on Jan. 27. That date follows... Read more → Posted on Tuesday, January 07, 2025...
The business tax does not have deductions for interest payments, dividends, or any other type of payment to the owners of the business. As a result, all income that people receive from business activity has already been taxed. …The resulting simplification and improvement in the tax system is...
While generally adopting the Proposed Regulations, the Final Regulations notably increase the foreign ownership threshold that triggers the “look through” of a domestic “C corporation” that owns an interest in a US real estate investment trust (REIT) for purposes of determining wheth...
When carrying out an asset seizure, the IRS will frequently seize real estate property, automobiles, private aircraft, and even business assets if they get judged as “ill-gotten gains,” or assets obtained by engaging in unlawful activity. ...
A different IRS official, without responding to the specific charges, said the IRS code requires employees to keep personal and official business strictly separate. “According to the code of conduct under which all IRS employees have to operate, when you’re (officially) involved with a taxpayer...
Later, a Philadelphia IRS agent testified that the 1988 law contains one reform--a 58-point checklist used to rate agents’ respect for proper procedure--that is “actually being used to the ultimate harm of both the IRS collection personnel and the American public.” He said the form “amo...
Explain whether a tax agent that promotes a scheme to their client that would avoid tax would be penalized. How does the tax system in Great Britain differ from the US tax system? Why are there differences between taxable and financial income? (Financial ...
to take care of the business. He left behind municipal bonds and a life insurance policy. However, the land that the service station stood on grew in value to around $1.7 million. They were forced to sell the service station because they were unable to pay the estate tax on the property...
We Are Here for You Regardless of your business or estate needs, the professionals at the Tax Law Offices of David W. Klasing are here for you. We are open for business and our team will help ensure that your business is too.Contact the Law Offices of David W. Klasing todayto discuss...
Publication 525 outlines how employees are to treat income from retirement plans,stock options, andfringe benefits, and how to report their income from business partnerships, real estate investments, and disability pensions. It also describes how certain employee types, such as military personnel and ...