Tax Law Blog | IRS Tax Attorneys
TAX LAW NEWS - TAX LITIGATION
From the monthly archives:
The IRS (Internal Revenue Service) recently mailed an information package to 130 million households and individuals who regularly file tax returns related to the recently signed Economic Stimulus Payments.
It is important to understand that the tax stimulus payments are not applicable or available to the following individuals:
* Non resident aliens.
* People who are claimed as [...]
{ 0 comments }
President Bush today signed the housing stimulus bill (H.R. 3221, The Housing and Economic Recovery Act of 2008). The House had approved the bill 272-152 and the Senate 72-13.
There are four main tax cuts in the $15.1 billion tax package:
* Refundable tax credit for first time home buyers (10% of the purchase price, up to [...]
{ 0 comments }
Certain purchases exempt from state tax; second tax holiday comes in October
The back-to-school tax holiday runs from July 31 through Aug. 3. Certain school supplies including clothing, footwear, computers and computer-related accessories are exempt from state sales tax during this time.
From Oct. 2-5, the purchase of energy- or water-efficient products with a sales price of [...]
{ 0 comments }
New York City property tax owners will find out over the next few months whether they will get a 7 percent property tax cut for the second year in a row, Mayor Michael Bloomberg said on Monday.
New York City’s economy is sliding with Wall Street’s profits and the independent mayor tried but failed to persuade [...]
{ 0 comments }
George Bush will leave his successor with the highest national debt in US history, the White House announced today.
The American budget deficit is projected to reach $482bn next year, breaking the previous record high of $413bn set in 2004. White House officials blamed the sagging economy for the new deficit figure, which does not reflect [...]
{ 0 comments }
As we all know that taxes play a major role in everyone’s life and they are equally important to be considered. We all know that there certain kind of taxes that are been charged by the federal government as well there are certain tax deductions and tax exemption that are also enjoyed by the people.
It [...]
{ 0 comments }
The IRS (Internal Revenue Services) provides various back tax resolution programs to tax payers only after analyzing their financial condition. It is important for the tax payers to be well aware of the tax obligations of IRS before they actually consider solving back taxes.
The simplest way to settle the back taxes is the wholesome payment [...]
{ 0 comments }
The Senate today passed, by a 72-13 vote, the housing stimulus bill (H.R. 3221, The American Housing Rescue & Foreclosure Prevention Act). The House on Thursday had approved the measure by a 272-152 vote after President Bush earlier in the day dropped his veto threat and urged Republicans to support the bill. There are four [...]
{ 0 comments }
Cross-border tax disputes are usually channelled through the “mutual agreement procedure”, an informal negotiation between the tax authorities of the states involved. Arbitration has been suggested as an alternative, and is starting to be instituted. Arbitration will probably be a good “stick” against over-long mutual agreements, but it also seems to exhibit “carrot” features, such [...]
{ 0 comments }
Winghunter was asking about a version proposed earlier this year by Fred Thompson, a plan which mimics one first put out by the House Republican Study Committee. But the idea is essentially the same: Individuals would figure their liability under both the regular income tax and a simplified lower-rate alternative and pay whichever is less.
TPC [...]
{ 0 comments }
