The Best Credit Cards for Different Phases of Life As you age, the best credit cards for your particular phase in life will likely change. The reason for this is simple. As we age, our financial situation shifts. Though there are some people that stick with the same credit card for many years, it may [...]
Continue Reading →How Making A Credit Card Application Can Sometimes Improve A Credit File In the long term, owning a property – whether it is owned outright, or purchased with a mortgage – is usually significantly cheaper than renting an equivalent home. This can differ from area to area (the levels of supply and demand in the [...]
Continue Reading →The Internal Revenue Service continues to make strong progress in combating international tax evasion, with new details announced today showing the recently completed offshore program pushed the total number of voluntary disclosures up to 30,000 since 2009. In all, 12,000 new applications came in from the 2011 offshore program that closed last week. The IRS [...]
Continue Reading →IRS Issues Guidance on Tax Treatment of Cell Phones; Provides Small Business Recordkeeping Relief The Internal Revenue Service today issued guidance designed to clarify the tax treatment of employer-provided cell phones. The guidance relates to a provision in the Small Business Jobs Act of 2010, enacted last fall, that removed cell phones from the definition [...]
Continue Reading →As with IRS Letters, IRS Notices should have an identifying number in the upper right-hand corner of the notice. CP 90 – Final Notice of Intent to Levy CP 90 notifies you of your unpaid taxes and that the IRS intends to levy to collect the amount owed. This notice and referenced publications explain how [...]
Continue Reading →IRS Collection Letters can be confusing to say the least. If you should receive one of these letters contact your Tax Advisor immediately. If you look in the upper right-hand corner of the letter it should have a number identifying what type of IRS Letter it is. Letter 11 – Final Notice of Intent to [...]
Continue Reading →The following article identifies IRS letters by their Letter Number, which you can find in the upper right-hand corner of the letter. Should you receive any of these letters from the Internal Revenue Service, contact our office immediately. Letter 525 – General 30 Day Letter This letter accompanies a report giving you a computation of [...]
Continue Reading →All IRS correspondence identifies the type letter or notice in the upper right hand corner. If you receive a letter that reads Letter Number: 3219(SC/CG) in the upper right hand corner, this is a 90 Day Letter. The wording that follows generally reads: Dear Taxpayer: We have determined that there is a deficiency (increase) in [...]
Continue Reading →AMERICAN JOBS ACT OVERVIEW Tax Cuts to Help America’s Small Businesses Hire and Grow New Tax Cuts to Businesses to Support Hiring and Investment: Proposes three tax cuts to provide immediate incentives to hire and invest: •Cutting the Payroll Tax in half to 3.1% for employers on the first $5 million in wages. •Temporarily Eliminating [...]
Continue Reading →The Internal Revenue Service changed the filing deadline for Partnerships that are under extension from October 15th to September 15th. This change was made because a lot of partners did not receive their K-1 forms from partnerships in time to meet their personal filing deadline of October 15th. The change allows 30 days for partners [...]
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