Tax Law Blog | IRS Tax Attorneys
TAX LAW NEWS - TAX LITIGATION
From the category archives:
On 12/17/10 President Obama signed an $859 billion tax cut and stimulus package that should strengthen commercial real estate and spur economic recovery. The legislation includes two tax extensions that will significantly influence the commercial real estate sector: the continuation of the 15 percent tax rate on capital gains through 2012, [...]
{ 0 comments }
The tax law passed this month by the lame-duck Congress has already had one unfortunate result: Millions of taxpayers who usually file their returns quickly to get an early refund will have to wait instead.
The Internal Revenue Service is scrambling to reprogram its computers to handle the income-tax deductions extended by the last-minute legislation — [...]
{ 0 comments }
By Barbara Weltman
AuctionBytes.com
Just before the Congress adjourned, the Tax Relief, Unemployment Reauthorization, and Job Creation Act of 2010 was signed into law. In addition to providing federal funding for the extension of unemployment benefits for 13 more months (through the end of 2011), numerous tax rules that had expired or [...]
{ 0 comments }
IRS delays tax filing to accommodate new tax law. IRS postpones filing for 2010 tax returns until February 2011
Taxpayers, who have to file tax deductions will have to wait until February 2011 to file their 2010 tax returns, Internal Revenue Service (IRS) announced. It means that taxpayers, who have to claim tax deductions for many [...]
{ 0 comments }
Washington — U.S. Sen. Charles Schumer, D-NY, announced Wednesday that a college tuition tax credit for middle class families set to expire at the close of this year will likely extend until the end of 2012.
The tax credit started in 2009 as part of the American Recovery and Reinvestment Act. Schumer said once the tax [...]
{ 0 comments }
WASHINGTON -(Dow Jones)- An $858 billion bill to extend tax cuts for two years has cleared a procedural hurdle in the Senate, setting up a final Senate vote by mid-week.
The legislation would extend Bush-era tax cuts for an additional two years for people of all income levels. It would cut payroll taxes for workers in [...]
{ 0 comments }
Senate Majority Leader Harry Reid on Thursday affirmed his commitment to legalizing online poker, but has apparently decided against using the tax cut bill to achieve his goal.
The Nevada Democrat, who maintains close ties to the gambling industry, had been working to build support for including the poker legalization in legislation to extend the Bush-era [...]
{ 0 comments }
Small businesses are being inundated with news about recent tax deductions, incentives, pending and adopted legislation, and whether or not the Bush tax cuts could expire. With such an extensive list of new legislation and laws, how can you be sure you are effectively taking advantage of those that apply to your business? Here is [...]
{ 0 comments }
Paying federal taxes just got more expensive.
With the Obama administration fiscal year 2010 federal budget deficit coming in at $1.3 trillion, the IRS has implemented new rules to make sure tax preparers are sufficiently regulated so that they can be dismissed from the profession if they fail to collect all possible taxes from taxpayers.
In the [...]
{ 0 comments }
