Individual income tax returns (Form 1040) are due on the 15th day of the fourth month after the end of the tax year (i.e. 15 April) unless that day is a Saturday, Sunday, or federal holiday, at which point the return is considered timely filed on the next business day. If the tax...
The history of income tax in America is an unusual one. The first federal income tax was created in 1861 during the Civil War as a mechanism to finance the war effort. In addition, Congress passed the Internal Revenue Act in 1862 which created the Bureau of Internal Revenue, a predecessor...
Howland Tax Services International provides cross-border tax preparation services for individuals and small businesses in Canada and the United States
In either case, Plaintiffs may not deduct a fake, non-economic loss for federal income tax purposes. See Kornman, 527 F.3d at 456 n.11. 25 Plaintiffs also argue that the United States' refusal to stipulate to facts underlying the alleged tender offer for Solution 6 stock is an ...
Federal Incentives What is the difference between a tax credit and a rebate? A tax credit is an amount of money that taxpayers can subtract from taxes owed to the government. A rebate is a return of a portion of a purchase price. To learn more about the details of the Federal Government...
The Federal Agencies involved with enforcement of the Lacey Act are: • United States Department of Agriculture (USDA) • Customs and Border Protection (CBP) • Animal and Plant Health Inspection Services (APHIS) • United States Trade Representative (USTR) • Departme...
2) choose to declare tax as S Corp. 3) choose to declare tax as C Corp. -C Corporation: if you want to set up a corporation, by default is C Corp, unless we choose IRS file Form 2553, we need to pay attention to the fact that it is only a distinction between federal tax and...
The English colonists in the Massachusetts Bay Colony enacted the first income tax in 1634, but the federal government did not adapt this form of taxation until 1861. Eleven states and the Federal Union raised income tax to finance the civil war. After the civil war, there was no need for...
While states need to change their requirements, the U.S. Department of Education should help states work together to achieve the national goal of improving online education opportunities. Recommendation 11.6: The U.S. Department of Educa- tion and other federal agencies should provide support and...
The Cidales reported the stock options as income for the 2000 tax year. In July 2002, they filed a Form 1040X and an amended tax return, seeking a refund of federal income taxes paid in the final amount of $274,941 plus interest. They claimed that the taxes should have been assessed ...