The article deals with a ruling issued by the U.S. Internal Revenue Service which would allow renewable energy developers to deduct equipment costs in full from their tax bills on projects commissioned between September 9, 2010 and December 31, 2011.EckhouseBrianPower Finance & Risk...
Is it Illegal to Write Off Personal Expenses as Business Expenses? Because business expenses are tax-deductible, they can lower your taxable income and reduce the amount of tax you owe. However, personal expenses cannot be used as tax write-offs against business income. If you are caught doing...
Senator Robert Casey, a Democrat, said the IRS had all but stopped auditing tax returns of wealthy private business owners, who were eligible for a 20% tax write-off on their personal taxes, while lower-earning recipients of the Earned Income Tax Credit (EITC) were five...
IRS to decide on write-off of tire tax Washington-The Internal Revenue Service plans by the end of November to settle an argument on the tax treatment of tractor-trailer tires that has been going on for 59 years, according to the American Trucking Associations. An Oct. 1 arti......
Don't round up — and avoid high write-offs Another red flag for the IRS is when people estimate how much they've spent or received and round off the number, instead of reporting the exact amount. While "a certain amount of rounding is acceptable," writes Accounting Today, using the ex...
Joe. Essentially, refund fraud is defined by the IRS on page 9 of their annual report as the act of “[filing] fraudulent tax returns to steal government funds.” If you’ve added entitlements to your return in order to increase your tax refund amount, you’ve committed this form of ...
It is perfectly acceptable to write off investment losses, and Melinda Kibler of Palisades Hudson advises doing so to offset any gains you had this year. "If your losses are greater than your gains, you can use up to $3,000 of loss to reduce your other income, and carry over the amoun...
Taxpayers unable to fully pay their tax liabilities may apply for an offer in compromise (OIC), an agreement with IRS to pay what they can afford. IRS writes off the rest of the liability. In 2005, IRS accepted over 14,000 offers. Because of concerns about program performance and a new...
IRS launches new tax enforcement campaign; focus includes offshore havens, deferred fees, whistleblower information Friday, December 13, 2024 Photo by cottonbro studio Last week, the Internal Revenue Service Criminal Investigation unit released its fiscal year 2024 annual report that touted the succes...
Offshore Tax Evasion: IRS has Collected Billions of Dollars, but May be Missing Continued Evasion, GAO-13-318, Washington: Government Accountability Office... USGA Office - United States. Government Accountability Office. 被引量: 6发表: 2013年 The Economics of Corporate Tax Selfishness This paper...