Tax Planning
Don't wait to do your tax planning until the end of the year. It can be done year-round. See your tax professional now. You'll have plenty of time to make any necessary adjustments or payments so you don't owe on April 15th!
Tax Planning
Don't wait to do your tax planning until the end of the year. It can be done year-round. See your tax professional now. You'll have plenty of time to make any necessary adjustments or payments so you don't owe on April 15th!
Business or Hobby? Answer Has Implications for Deductions
he Internal Revenue Service reminds taxpayers to follow appropriate guidelines when determining whether an activity is a business or a hobby, an activity not engaged in for profit.In order to educate taxpayers regarding their filing obligations, this fact sheet, the eleventh in a series, explains the rules for determining if an activity qualifies as a [...]
Keep the Child and Dependent Care Tax Credit in Mind for Summer Planning
During the summer many parents may be planning the time between school years for their children while they work or look for work. The IRS wants to remind taxpayers that are considering their summer agenda to keep in mind a tax credit that can help them offset some day camp expenses. The Child and Dependent [...]
IRS Says Offshore Effort Tops $5 Billion, Announces New Details on the Voluntary Disclosure Program and Closing of Offshore Loophole
The Internal Revenue Service today announced that its offshore voluntary disclosure programs have exceeded the $5 billion mark and released new details regarding the voluntary disclosure program announced in January, including tightening the eligibility requirements. "We continue to make strong progress in our international compliance efforts that help ensure honest taxpayers are not footing the [...]
IRS Says Offshore Effort Tops $5 Billion, Announces New Details on the Voluntary Disclosure Program and Closing of Offshore Loophole
The Internal Revenue Service today announced that its offshore voluntary disclosure programs have exceeded the $5 billion mark and released new details regarding the voluntary disclosure program announced in January, including tightening the eligibility requirements. "We continue to make strong progress in our international compliance efforts that help ensure honest taxpayers are not footing the [...]
IRS Announces Efforts to Help U.S. Citizens Overseas, Including Dual Citizens and Those with Foreign Retirement Plans
The Internal Revenue Service today announced a plan to help U.S. citizens residing overseas, including dual citizens, catch up with tax filing obligations and provide assistance for people with foreign retirement plan issues."Today we are announcing a series of common-sense steps to help U.S. citizens abroad get current with their tax obligations and resolve pension [...]
IRS Announces Efforts to Help U.S. Citizens Overseas, Including Dual Citizens and Those with Foreign Retirement Plans
The Internal Revenue Service today announced a plan to help U.S. citizens residing overseas, including dual citizens, catch up with tax filing obligations and provide assistance for people with foreign retirement plan issues."Today we are announcing a series of common-sense steps to help U.S. citizens abroad get current with their tax obligations and resolve pension [...]
IRS Marks Third Anniversary of Return Preparer Review; Urges Required Preparers to Take Competency Test as Soon as Possible
The Internal Revenue Service marked the third anniversary of its groundbreaking return preparer initiative and urged those paid tax return preparers required to pass a new competency test to take the test as soon as possible. Three years ago the IRS took its first step toward ensuring standards for competency, continuing education and ethics would [...]
IRS Marks Third Anniversary of Return Preparer Review; Urges Required Preparers to Take Competency Test as Soon as Possible
The Internal Revenue Service marked the third anniversary of its groundbreaking return preparer initiative and urged those paid tax return preparers required to pass a new competency test to take the test as soon as possible. Three years ago the IRS took its first step toward ensuring standards for competency, continuing education and ethics would [...]