13 Jun Estimated Income Tax Payments
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in Estimated Taxes
Estimated Income Tax Payments Due...
Estimated Taxes
12 Mar IRS Form 7004 Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns.
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in Corporation, Estate Tax, Estimated Taxes, Excise Tax, Extension, Paying Taxes, Penalty, Sub-chapter S, Tax Guidance & Preparation, Tax Relief, Trusts
If your corporation, partnership or estate operates on a calendar year basis the tax return is due March 15th which is coming up! If you need additional time to file tax returns for these entities file IRS Form 7004 which is an application for Automatic Extension...
11 Dec Foreign Financial Reporting IRC 6038D
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in Estimated Taxes, FBAR, Foreign Income, Offshore account, Tax Guidance & Preparation, Uncertain Tax Position
In 2010, the Hiring Incentives to Restore Employment (HIRE) Act added Code Sec. 6038D requiring individual taxpayers with an interest in a specified foreign financial asset during the tax year to attach a disclosure statement to their income tax return for any year in which the aggregate...
05 Apr Paying Estimated Taxes IRS Form 1040-ES
As a general rule, you must pay estimated taxes if both of these statements apply: 1) You expect to owe at least $1,000 in tax after subtracting your tax withholding (if you have any) and tax credits, and 2) You expect your withholding and credits to be...
11 Jan Who Should I Hire To Do My Taxes?
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in Estimated Taxes, PTIN, Tax Abuse, Tax Fraud, Tax Guidance & Preparation, Tax Preparer, Tax Relief, Taxpayer Advocate
We all know there are good and bad people everywhere, both inside the IRS and in the tax practitioner community alike. Â Routinely readers of this blog report specific and egregious allegations of tax practitioner misconduct in violation of United States Treasury Department Circular 230. It...
07 Jul Taxable and Non Taxable Settlements
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in Capital Gain, Capital Loss, Estimated Taxes, Tax Fraud, Tax Guidance & Preparation, Taxable Income
I've been getting quite a few calls lately from taxpayers that have received 'settlement' money and are confused over the prospective tax ramifications of receiving such money. Â The Internal Revenue Service recognizes that receiving a settlement award (amount) from a personal injury suit may...
17 Jun Tax Strategy Patents + Patent Applications
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in Abusive Tax Shelter, Colorado Department of Revenue, Estimated Taxes, IRS Appeal, IRS Audit, IRS Collections, IRS Enforcement, IRS Examination, IRS Levy, IRS Lien, IRS Mediation, IRS Penalties, IRS Penalty and Interest Abatement, Private Letter Ruling, Tax Abuse, Tax Problems & Requests, Tax Relief, Tax Whistle Blower
I am opposed to all tax strategy patents.  They are bad public policy and harmful to taxpayers and their advisers. No one should have a monopoly on part of the tax code and no taxpayer should be subject to paying royalties or lawsuits for using...
26 May You May Have to Pay Estimated Taxes if …..
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in Estimated Taxes
According to IRS Publication 505 you may have to pay estimated taxes if you are self-employed and have income other than your salary or you receive income that is not subject to withholding, such as: Self-employed income Rent Interest Dividends Alimony Gains from sales of assets Prizes...
14 Apr Paying Estimated Taxes IRS Form 1040ES IRS
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in Estimated Taxes
IRS Form 1040ES, Estimated Tax for Individuals, provides all you’ll need to pay estimated taxes. This includes instructions, worksheets, schedules and payment vouchers. Another good source for information is IRS Publication 505, Tax Withholding and Estimated Tax You may need to pay estimated taxes during the year depending on...
13 Jan Tax treatment for your children
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in Adoption, Child Tax, Children, Earned Income Tax Credit, Education Expense, Estimated Taxes, Gift Tax, Refundable Tax Credit, Student Loan, Tax Credit, Tax Deductible Expenses, Tax Guidance & Preparation, Tax Relief, Uncategorized
Got Kids? They may have an impact on your tax situation. Listed below are the top 10 things the IRS wants you to consider if you have children. Dependents In most cases, a child can be claimed as a dependent in the year they were born....
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