I. INTRODUCTIONOver the past decade and a half, the tax shelter industry and other phenomena have forced tax practitioners to focus more closely than ever on the standards that govern advising ad preparing tax return positions.(1) Professional organizations, Congress, and the Treasury have all tried their hands at formulating standards...
Jul 04, 2003 (The Advertiser - ABIX via COMTEX) Several enhancements have been made to the 2003 edition of the Australian Taxation Office's online tax return lodgement software. The e-tax 2003 software allows taxpayers to prepare their tax return electronically and lodge it via...
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...
Software To Tame Your Tax Return The time of the paperless tax return may be upon us. Even the Internal Revenue Service is touting electronic filing with the tax packages they sent out nationwide - anything to get poor old Uncle Sam out from under those warehouses full of...
Byline: Terry Hayes Sep 04, 2006 (Weekly Tax Bulletin - ABIX via COMTEX) -- An anonymous telephone call to the Tax Agent's Board of Queensland has led to a $A5,000 fine for an unregistered tax return preparer. This is according to the Australian...
Byline: Lisa Mak Mar 05, 2007 (Weekly Tax Bulletin - ABIX via COMTEX) -- Australian taxpayers who have not lodged a tax return for 2006 and are not using a tax agent can still lodge the return through the electronic lodgment system. The...
WASHINGTON -- There's no prize for filing the longest tax return, but General Electric Co. could probably beat any competition. The company filed a 24,000-page tax return to the Internal Revenue Service this month. If it were paper, it would stack up 8 feet high. But instead of...
A taxpayer who discovers after filing a return that a deduction of, say, $20,000 was not taken faces a dilemma. Conventional wissom says you shouldn't amend your tax return because the amendment will generate a tax examination by the Internal Revenue Service. But why give up legitimate tax...
Most accountants and lawyers would scoff if asked the simple question "What is a tax return?" Two recent bankruptcy cases, however, explore the interesting question of what is an "honest and reasonable" tax return for purposes of the discharge of tax liability in bankruptcy. The question is critical for bankruptcy...
Individual taxpayers who received a six-month extension to file their 2005 income tax return, including a projected 77,800 Utahns, have less than a month remaining, the Internal Revenue Service said Tuesday. The deadline to file the tax return is Oct. 16, the agency said. Taxpayers who have yet...
Q&A ABOUT REFUNDS Q: Could I be owed a refund? A: If you didn't file a 2000 tax return but your employer withheld taxes from your paycheck or you made self-employment tax payments, you might be eligible for a refund. Generally, individuals who earned less than...
Is there really such a thing? Is there really some way that you can prepare your tax return that will guarantee you won't be subject to an audit? Of course not. But there are methods you can use that will certainly minimize your risk. The article looks at some of...
There is no surefire way to audit-proof your tax return. Nevertheless, there are numerous steps you can take to reduce your audit risk: Prepare your tax return by computer. A neat, computer-prepared return looks more official to the IRS classifiers and fits the IRS bias favoring computer processing. Most...
There is no surefire way to audit-proof your tax return. Nevertheless, there are numerous steps you can take to reduce your audit risk: Prepare your tax return by computer. A neat, computer-prepared return looks more official to the IRS classifiers and fits the IRS bias favoring computer processing. Most professional...
Byline: Terry Hayes Jan 30, 2007 (Weekly Tax Bulletin - ABIX via COMTEX) -- The Australian Taxation Office has notified tax agents about its 2007 external data matching process. The process involves matching data from Centrelink, the Department of Veterans' Affairs and other external...
VIRGINIA BEACH, Va. -- Some taxpayers anxious to stimulate the economy by spending their economic tax rebate checks are wondering where those payments are, and in some cases, why the amount is different than they anticipated. Liberty Tax Service reports that the IRS is generally issuing the tax rebates in...
Byline: Terry Hayes May 05, 2006 (Weekly Tax Bulletin - ABIX via COMTEX) -- Approximately 900,000 taxpayers will be offered an option to choose short tax returns in 2006 for the first time. The Australian Taxation Office informed that the short tax return...
Waiting too long to file a return can cost you a refund. An employee had tax withheld from his pay and also sent in estimated tax. He ended up overpaying for the year. But he didn't file his tax return requesting a refund until more than...
Byline: Lisa Mak Jun 04, 2007 (Weekly Tax Bulletin - ABIX via COMTEX) -- The Australian Taxation Office ATO has retracted a statement made in 2006 at an ATO Tax Practitioner Forum. The retracted statement says that, where a tax agent inadvertently lodges...
IF THE TAX RETURN YOU FILE BY THIS COMING APRIL 15 is audited, it will probably be 12 to 18 months after it has been received by the Internal Revenue Service. By that time, your tax records could be lost, misplaced, or even accidentally thrown out. What if you simply...
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