You may think inheritance tax IHT is something only millionaires worry about. You’d be wrong. Millionaires don’t worry about it at all. They will already have made arrangements to avoid paying it. Inheritance tax has been described by some tax experts as a voluntary tax it is so easy to...
As the tax filing deadline nears, IRS agents are making examples of what they see as overzealous tax preparers and are warning the public to check their tax returns for questionable deductions their preparer might have made. Investigators with the IRS criminal investigations division say they are seeing...
In recent years the Tax Court had displayed considerable hostility to sophisticated corporate tax planning, so much so that tax practitioners now ordinarily recommend that corporate tax shelter issues be litigated in the U.S. District Court or Federal Claims Court, if the taxpayer can afford to pay the tax and...
Form Magic, Inc. -- Tax-Mate 888-746-0440, www.FormMagic.com Tax-Mate is offered in four versions: Tax-Mate Print, Tax-Mate Laser, Tax-Mate Transmittal and Tax-Mate Advisor. Tax-Mate Transmittal and Tax-Mate Advisor support paperless transmittals to the IRS and SSA. Tax-Mate Print and Tax-Mate Laser support...
More than half of you will pay some tax pro to prepare your tax returns this year, according to statistics from the IRS. Tax pro also talk to other tax professionals from around the country. Because they talk, shop and share insights. They tell things to one another that they...
In the U.S. Treasury Department's continuing effort to stop abusive tax shelters and restore integrity to the tax system, the 1RS announced earlier this year three provisions that make it more difficult for tax advisors to issue tax opinions and for taxpayers to avoid the imposition of the tax accuracy-related...
The nanny tax is actually shorthand for three federal employment taxes - Social Security and Medicare taxes together referred to as FICA tax and the federal unemployment, or FUTA, tax. You will probably also owe state unemployment tax and perhaps state disability tax as well.
These document queries certain issues on tax and budget deficits that are causing states to be more aggressive with their auditing and collection of taxes. Read on to recognize that the sales and use tax specialists at Colonial Tax can help your tax department achieve compliance. Know more about colonial...
Phased-in tax reductions are a common feature of tax legislation. This paper uses a dynamic general equilibrium model to quantify the effects of delaying tax cuts. According to the analysis of the model, the phased-in tax cuts of the 2001 tax law substantially reduced employment, output, and investment during the...
While the two tales discussed in this study deal with tax audits of businesses, the lessons to be learned apply equally to personal tax audits. The lesson taught in this article preaches to treat the tax auditor with some courtesy and respect, to control the information flow to the tax...
IN A HEARTBEAT THE TAX-LAW -- especially the estate tax law -- can rip a family's wealth to shreds. Luckily, thanks to the Tax Relief Act of 2001, the estate tax has been repealed, right? Wrong. The short and real answer is ......
Knowing your income tax rate can help you calculate your tax liability for unexpected income, retirement planning or investment income. This tool helps you estimate your average tax rate, your current tax bracket, and your marginal tax rate for the current tax year.
The article is about the regulatory issues for tax relief and summarizes the GST tax phase-out provisions. The new legislation presents a number of immediate opportunities for planners to address partial inclusion ratios, botched GST tax allocations and numerous other problems. Unlike the other "tax relief" provisions in the...
The 2003 tax year begins with one set of tax rules. But we expect there will be major changes to several provisions. Congress will approve a significant tax-reduction package later this year, now that the Republicans are back in control of both houses of ...
Multinational companies typically make one of two critical errors in business performance measurement. Either they ignore tax completely or they don't effectively measure the performance of tax initiatives. This article insists that tax must become an integral part of any organization's performance management process to truly maximize shareholder value. Companies...
The 2001 Tax Act (a.k.a., H.R.1836: The Economic Growth and Tax Relief Reconciliation Act of 2001) provides substantial tax relief with five new types of benefits specifically targeted to children. Ranging from tax credits to adoption programs to child-care assistance, these tax advantages are explained and explored in this article....
Who's afraid of the IRS? Almost everyone. The key to surviving a tax audit -- and even coming out on top -- is not to panic, but to prepare. What to Do Before Your Audit If you go it alone, before meeting the auditor, you should thoroughly review...
Byline: Sed Crest Jul 26, 2005 (International Tax Review - ABIX via COMTEX) -- Tax policy cooperation threatens international tax planning. Reuven Avi- Yonah, a former consultant...
