The first few months of every new year seems to be dragged down by the necessity of preparing tax returns and the feeling of becoming poorer by the minute. To ease some of the federal burden, the IRS created an earned income tax credit that was implemented in 2013.
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The Complete Guide to International Tax Compliance
Under the law, U.S. citizens, resident aliens and certain nonresident aliens are required to report worldwide income from all sources including foreign bank and financial accounts. Required reporters must pay taxes on income from these accounts at their individual tax rates.
How a Tax Attorney Can Help With Your Income Taxes
Most of the time, taxpayers can handle personal income taxes without too much trouble but there are times when a tax attorney can be either a handy resource or a required partner.
What to Do If You Miss Your Tax Filing or Tax Extension Deadline
Uh oh. It is now after April 15, and you did not file your taxes. What do you do?
The Complete Guide to IRS Offer in Compromise
Like all creditors, the government must contend with debtor inability to pay. They must also decide how to settle accounts when reasonable minds might differ on the amount owed. Businesses resolve their account receivable challenges with the standard procedure of negotiation and compromise. The government also acknowledges the utility of this process; it promotes an equitable and efficient result for both the IRS and the taxpayer alike. Accordingly, the government has authorized the IRS to negotiate and settle taxpayer liability through the program of Offer in Compromise.
The Good and Bad News For Amazon Sellers That Have Received CDTFA Notices
This week, Amazon disclosed Amazon seller information to the California tax authorities in response to a legal demand letter it received late last month.
Amazon Seller Disclosure To The California Tax And Fee Administration
Many Amazon sellers received an e-mail notification from Amazon this week with the subject “Disclosure to the California Department of Tax and Fee Administration” stating that Amazon has been served with a legal demand from the California Department of Tax and Fee Administration (CDTFA), and that the company has until November 6th to turn over all Amazon seller information and any tax identification numbers associated with those sellers.
California Payroll Tax Audits and Payments to Officers
In addition to payments to employees either as casual labor or as reimbursements, the auditor is also going to look at any payments to officers or any personal expenses that are being written out of the business, and in an effort to classify personal expenses as taxable wages. Let’s talk about that in a little bit of detail.