IRS Tax Relief When a person is weighed down by debt, they believe they cannot pay; they often turn to bankruptcy as an option to get them out of debt. Most people, when filing for bankruptcy, do it either under Chapter 7 or Chapter 13. Through these options, some debts cannot be dis...
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Form 8854 Exit Tax Calculations and Reporting and IRS Relief Procedures for Certain Former... Determining Covered Expatriate Status Under Section 877A, Navigating the Ma... November 6, 2024 • CPE, EA • CPE On-Demand This program is included with the Strafford CPE Pass. Click for more...
The Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA) is intended to put more disposable income in the pockets of individual taxpayers in the U.S. For small businesses the act provides incentives to buy technology, machinery and other equipment and to expand. This article ...
Also of significance for individuals living in tax treaty countries is the case of Mr. Aroeste. The author of this blog represents the Mexico City resident who had not formally abandoned his LPRs. The case law provides significant relief for different groups of international taxpayers pursuant per...
Clear U.S. tax and legal relief now exists for a significant portion of the 3.89 million Lawful Permanent Residents (LPRs) who never formally abandoned their U.S. immigration status. This relief stems from two sources in the law: (i)Tax treatylaws that apply to individuals residing in one...
The tax rules that generated this lock-in effect were modified in the Taxpayer Relief Act of 1997. Housing capital gains of less than $500 000 are no longer subject to capital-gains tax. This change has presumably reduced the potential role of lock-in in the residential real estate market....
equitable and transparent India by 2030. The proposed amendments have been positively received by the industry and the common man. Enhancement of standard deduction for the salaried class and tax exemption for all taxpayers deriving income upto INR 5 lakhs a year will provide some relief to the ...
IRS Expands RMD Waiver Relief for All of 2020 Despite this, the law was enacted after some taxpayers had already taken their 2020 RMDs early in the year. For those who took RMDs very early in the year, the sixty-day rollover period had already expired. In response, the IRS announced that...
12. Partial private residence relief [PRR]个人居住时间免税The last 9 months of ownership are always treated as a period of occupation if the property has at some time been the individual’s private residence. 处置之前的9个月都按照户主居住处理。Periods of deemed occupation are defined in statute...