The list of Tax Day Freebies and discounts grows every year. Tax Day can be painful, so collecting fun perks that...
Apr 15 2014, 4:35am CDT
In most cases, the IRS has three years after you file to audit. If the IRS shows up after that, you may be able to...
Apr 3 2014, 8:11am CDT
Source: Forbes Real Time
In the ESBT context, the Final Regs retain the Proposed Regs’ calculations as they apply to NIIT UNII and MAGI. However, the Final Regs relocated the ESBT provisions from Proposed Reg. §1.1411-3(c)(1) to Reg. §1.1411-3(c) in the Final Regs. As background, for income tax ...
Full article at: Forbes Real Time
Jun 17 2014, 10:00am CDT
The IRS passed some legislation according to which Bitcoin is a property, not a legal currency in tax system. And Bitcoin is to be taxed. This decision is of great importance indeed.
Mar 26 2014, 3:42am CDT
Source: Spice Zee
The Income Tax department has issued a notice to Chief Election Commissioner (CEC) V S Sampath in connection with the sale of a property in Hyderabad and acquiring a new residential proper ...
Full article at: Spice Zee
Jun 7 2014, 2:38pm CDT
Code Sec. 1411(a)(1) imposes the NIIT on individuals. However, the NIIT does not apply to nonresident aliens (NRAs). Calculation of NIIT for Individuals Generally, the NIIT equals 3.8 percent of the lesser of: an individual’s NII, as defined in Reg. §1.1411-4, for the tax year; or the excess ...
Full article at: Forbes
Jun 3 2014, 10:00am CDT
IRS.gov has developed a free smartphone app called IRS2Go. An updated version of this app is now available for both iOS and Android devices.
Mar 8 2014, 4:24am CST