A regulation under the Section 1.1446-3(a)(2)(ii) allows a partnership among foreign investors to withhold at the highest tax rate applicable to a particular type of income. The filing requirements for lower-tier partnerships (LTPs) and the foreign partner of an upper-tier partnership (UTPs...
This client alert is intended to remind you of certain 2018 year-end reporting requirements under Section 6039 of the Internal Revenue Code of 1986, as…
Unlike other campaigns that are issue focused or seek to address compliance with the preparation and filing requirements for certain tax forms, and are not unique to a specifically identified industry, the Sports Industry Losses campaign is narrowly focused. Observations & Considerations ...
Okay, this gets pretty overwhelming pretty fast, so I am linking to a site that has all the states’ rules in one place —https://www.taxbandits.com/state-filing-requirements/ The short version here is that not all states have the same rules. Some allow the IRS filing of certain inform...
Some providers may have additional requirements, such as age limitations or more restrictive income thresholds. State filing may not always be included with the free federal offer, but the IRS says that over 20 states were available last year. If you qualify for a free federal return via Free...
While it may not be obvious at first, some criminal investigations that don’t fall neatly into these categories can still be investigated by the IRS. For example, theAlcohol and Tobacco Tax and Trade Bureau(TTB), covered on page 21 of the IRS CI annual report, is a partnership effort be...
I shared IRS-themed humor during tax season in2021and2022, so let’s make that a new annual tradition. In honor of this year’s tax-filing season, let’s start with aReasonvideofrom Remy. To help deal with IRS non-responsiveness, Joe Biden has pushed througha law to dramatically expand...
Notice 97-77 provides guidance to partnerships with more than 100 partners on the requirements for filing partnership tax returns on magnetic media. However, mandatory magnetic media requirements will not apply to partnership tax years beginning before January 1, 1998. ...
(previously more than 250) in a calendar year will be required to file electronically in 2024. The regulations also require e-filing of certain returns and other documents not previously required to be e-filed. Returns affected by the electronic filing mandate include partnership returns, corp...
Contributions you make to any qualified retirement plan can be used to satisfy the credit’s eligibility requirements. Qualified retirement plans include traditional IRAs, Roth IRAs, 401(k) plans, 403(b) plans and 457 plans. The maximum credit available to a Single taxpayer is $1,000 and for...