Notification of an IRS Tax Examination An individual will be contacted by mail or telephone as an official notification that a tax audit has been levied against their person or corporation. Integrated within this contact might be a list of the information required to reverse the tax audit and clear the individual or business from … Read More “IRS Audit Notifications” »
Category: About tax
Saving vehicles for children such as the Junior ISA or Child Trust Fund (CTF), are frequently reported as being tax free but it is not always made completely clear which types of tax these vehicles are exempt from and how those taxes would otherwise work. This two-part article looks at the three areas of tax … Read More “UK Taxes and Child Savings – Income Tax” »
On February 22, President Obama signed the Middle Class Tax Relief and Job Creation Act of 2012. The new law extends the employee-side payroll tax holiday, giving wage earners and self-employed individuals 12 months of reduced payroll taxes in 2012. 2011 payroll tax holiday Until 2011, the Old-Age, Survivors and Disability Insurance (OASDI) tax rate … Read More “Payroll tax holiday extended for all of 2012” »
There are so many types of tax problems that Canadians experience that find them in situations where they are going to have to initiate a conversation with the Canada Revenue Agency. These types of problems can include: • Past due tax returns • Notional assessments – this is where a taxpayer is past due filing … Read More “How to Negotiate With the Canada Revenue Agency and Making Financial Disclosure” »
IRS BEST KEPT SECRET- THE $25,000 WRITE-OFF Apartment investments still provides the opportunity to easily qualify as an active participant. In doing so, qualified investors can deduct up to$25,000 per year against salaries and other nonpassive income. You’ll notice that I said “qualified investors.” That’s because there are five basic conditions that must be met … Read More “IRS Best Kept Secret- The $25,000 Write-Off” »
Tax lawyer CT services are ideal if you have been dealing with numerous letters and calls from the IRS and you are uncertain about how to handle it on your own. Just because you are getting contacted by the IRS, it does not always mean that you are at fault. It is somewhat common for … Read More “Reliable Representation From Tax Lawyers Connecticut” »
IRS Audit Notifications A person or company will be notified by phone or mail that a tax audit is beginning for endorsement on their behalf. Included in this contact might be a list of the information necessary to repeal the audit and clear the person or corporation from owing extra money, fines or fees. IRS … Read More “How to Contest an IRS Tax Audit” »
When a taxpayer becomes non-compliant the CRA has a number of financial penalties that it can impose to punish a taxpayer for filing late returns and/or failing to disclose income. Some penalties are calculated based on a percentage of the tax debt and other penalties are fixed based on an act. Businesses are subject to … Read More “CRA Penalties – How are CRA penalties calculated?” »
We live in a consumer society where certain economic circumstances (combined with a desire to sometimes spend more than we should), may just lead us to a point where we need to take a look at properly managing our personal finances. Hiring an expert to help us in manage our personal tax and finances might … Read More “An Easy and Affordable Way to Manage your Finances and Taxes” »
Almost everyone hates paying taxes. The process only reduces their pay and reduces the money allotted for other matters. This is one of the main reasons why many people hate paying taxes, especially if they are not seeing where their money goes. Paying taxes is already a huge problem for some people. Having to pay … Read More “Free Tax Filing – Use Online Software To File Taxes For Free” »