Tag Archives: Tax Reporting

Offshore Trusts Were Used To Commit Tax Fraud, Bankruptcy Court Finds

A federal bankruptcy court has found that a taxpayer used offshore trusts to hide some $1 billion from U.S. taxation. The court was not persuaded that the taxpayer had used the offshore trusts for tax deferral, as he claimed, rather … Continue reading

Posted in Blog, Featured on Homepage, Tax Reporting | Tagged , , , | Leave a comment

Extended Individual Tax Returns Due October 15th

Individuals who filed extensions in April, have until October 15, 2013 to file their 2012 taxes.  There are no extensions to file beyond this date. Significant penalties may apply for failing to file by this date.

Posted in Blog, Featured on Homepage, Tax Reporting | Tagged , , | Leave a comment

June filled with Foreign Activity Reporting Requirements

U.S. citizens and resident aliens, including those with dual citizenship who have lived or worked abroad during all or part of 2012, may have a U.S. tax liability and a filing requirement in 2013, and that the filing deadline is … Continue reading

Posted in Blog, Foreign Income, Tax Reporting | Tagged , , | Leave a comment

IRS Provides Relief For Late Payment Penalties

The IRS has provided relief for failure to pay penalties this year.  The relief is available to taxpayers filing 2012 forms that were affected by delays caused by the January passage of the 2012 Taxpayer Relief Act. In general, if you request … Continue reading

Posted in Blog, Featured on Homepage, Tax Notes | Tagged , , , | 1 Comment

Construction workers hired on project-by-project basis were employees

If the real estate market has not impacted Contractors enough. The Tax Court has concluded that workers hired by a construction company to work on various residential projects were employees. Despite the fact that the workers were hired on a … Continue reading

Posted in Blog, Featured on Homepage, Tax Notes | Tagged , , , , | 1 Comment

IRS Identity Theft Still on The Rise

Although the IRS is trying, it remains relatively ineffective in preventing taxpayer identity theft. Here is how it works…

Posted in Blog, Featured on Homepage, Tax Notes | Tagged , , , , | Leave a comment

Georgia & South Carolina Do Not Adopt American Taxpayer Relief Act

If this tax season does not get more confusing.  Georgia, South Carolina and a number of other states have not adopted legislation to conform with Federal Law, specifically the American Taxpayer Relief Act passed on January 2, 2013. Georgia & … Continue reading

Posted in Blog, Featured on Homepage, State and Local Taxes | Tagged , , , , , , , | Leave a comment

The H&R Block – Turbo Tax War

You already know I am a tax geek, so this is right up my alley. I have always had a weird interest in Company’s marketing battles (Budweiser vs. Miller, Coke vs. Pepsi, McDonalds vs. Everyone).  Well, I never in my … Continue reading

Posted in Blog, Featured on Homepage | Tagged | Leave a comment

Corporate Electronic Filing System Opens

The IRS officially opened the electronic filing system for corporations and partnerships last Monday. There is still a long list of forms that need to be approved before we can file all returns.  Unfortunately, the unapproved forms effect the majority … Continue reading

Posted in Blog, Featured on Homepage, Tax Reporting | Tagged , , , | Leave a comment

Still no word from IRS on Business Tax Return Filing Timeline

On Wednesday the IRS began accepting most individual tax returns and opened their electronic filing systems. Unfortunately, the IRS has still not indicated when they might be ready to accept partnership and corporate tax returns.  There are some key forms … Continue reading

Posted in Blog, Featured on Homepage, Tax Notes, Tax Reporting | Tagged , , | Leave a comment