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Davis Wright Tremaine LLP

Family Employee Tax Policies

by Davis Wright Tremaine LLP on

Hiring and employing family members is common in the realm of family businesses. An important thing to remember is that most family employees are treated in the same manner as any other employee for federal tax purposes,...more

Foodman CPAs & Advisors

What is Tax Evasion?

by Foodman CPAs & Advisors on

The IRS TAX CRIMES HANDBOOK states that there are two kinds of tax evasion: (a) the willful attempt to evade or defeat the ASSESSMENT of a tax, and (b) the willful attempt to evade or defeat the PAYMENT of a tax. ...more

Foodman CPAs & Advisors

How to determine an Individual’s Residency for Tax Treaty Purposes?

by Foodman CPAs & Advisors on

The guidelines for determining an Individual’s tax residency are as follows: - An Individual Taxpayer is a resident based on the laws of one treaty-partner country and is considered to be a resident of that country for...more

Foodman CPAs & Advisors

What is Reasonable Cause for the IRS?

by Foodman CPAs & Advisors on

In the US, Taxpayers “self-assess and voluntarily” pay taxes. The IRS position is that Voluntary Compliance occurs when a Taxpayer makes a “good faith” effort to meet the Taxpayer’s tax obligations as defined in the Internal...more

McNair Law Firm, P.A.

IRS Releases New Guidance on Voluntary Tax Disclosures

by McNair Law Firm, P.A. on

A bedrock of IRS administrative practice has been the voluntary disclosure. Where an individual or business has not filed tax returns or believes they may have criminal tax exposure for prior actions, IRS procedures have...more

Foodman CPAs & Advisors

Do you own a second home or a vacation home that you rent out?

by Foodman CPAs & Advisors on

Rental income is reportable on a Taxpayer’s tax return. Certain expenses such as mortgage interest, real estate taxes, casualty losses, maintenance, utilities, insurance, and depreciation may be deducted from a Taxpayer’s...more

Hogan Lovells

Extraordinary profits created under restructurings according to German law – to be exempt or not to be exempt, that is the...

by Hogan Lovells on

Recently the German legislature passed a new law, exempting extraordinary profits created by the waiver of claims under restructurings from income tax liability. ...more

Foodman CPAs & Advisors

2018 is almost over and still no guidance from IRS on the treatment of Virtual Currency

by Foodman CPAs & Advisors on

On September 19, 2018, the House Ways and Means Committee wrote a letter to the IRS urging the IRS to “issue updated guidance, providing additional clarity for Taxpayers seeking to better understand and comply with their tax...more

Foodman CPAs & Advisors

Understanding Estate and Gift Taxes

by Foodman CPAs & Advisors on

Although only .2% of US Taxpayers actually pay Estate Taxes (Congress's Joint Committee on Taxation), it is important to understand how Estate Tax works in conjunction with gifting....more

Holland & Knight LLP

Colombia Propone Cambios a las Regulaciones Tributarias - Una Mirada a los Principales Cambios Propuestos por la Ley de...

by Holland & Knight LLP on

En términos generales, los cambios impositivos propuestos más grandes de Colombia tendrían un impacto en el Impuesto sobre las ventas (IVA), la creación de un impuesto unificado denominado SIMPLE, la emisión del impuesto a la...more

Norris McLaughlin, P.A.

Tax-Exempt Organizations, Excise Taxes and Executive Compensation – A Year End Reminder and 2019 Planning Opportunity

by Norris McLaughlin, P.A. on

As 2018 draws to a close, the trustees, directors, and senior management of tax-exempt organizations should review the compensation structure of some of its executives in light of the Tax Cuts and Jobs Act (TCJA), which was...more

Charles (Chuck) Rubin

Filing a Claim against Estate Grants IRS More Than 10 Years to Collect

by Charles (Chuck) Rubin on

Code §6502(a)(1) provides a 10 year collection period to the IRS, measured from the assessment date. The particular language reads...more

Bradley Arant Boult Cummings LLP

Surging Economy Boosts Alabama 2018 General Fund and ETF Revenues - SALT Alert: Alabama Edition

On October 29, the well-respected Public Affairs Research Council of Alabama (PARCA), headquartered at Samford University, issued a useful report finding Alabama’s “booming economy” had generated substantially increased tax...more

Ropes & Gray LLP

Podcast: Illinois Tool Works Inc. & Subsidiaries v. Commissioner of Internal Revenue

by Ropes & Gray LLP on

In this Ropes & Gray podcast, Ben Simmons, an associate in the tax group, is joined by David Saltzman, a partner in the tax group, to discuss the recent Tax Court memorandum decision, Illinois Tool Works Inc. & Subsidiaries...more

Akin Gump Strauss Hauer & Feld LLP

Swiss Tax Law Changes: New Withholding Tax Rules

• Under Swiss law, Swiss employers must levy an employment withholding tax on the salary received by foreign nationals who do not hold a permanent residence permit. • Only taxpayers whose salary exceeds a certain amount...more

McNair Law Firm, P.A.

Unpaid Federal Employment Taxes: The Government’s Chief Enforcement Priority

by McNair Law Firm, P.A. on

Businesses that have employees must pay wages and salaries to their employees, and the employer must collect federal employee income taxes and the employee’s share of social security (FICA) from these wages and salaries, add...more

Foodman CPAs & Advisors

What is your Work Status? Employee or Independent Contractor?

by Foodman CPAs & Advisors on

Worker classification or work status has an effect on how a Taxpayer will pay federal income taxes, social security and Medicare taxes, and how a Taxpayer files a tax return. ...more

Thompson Coburn LLP

Strategies for estate planning during a divorce

by Thompson Coburn LLP on

Divorce is a fact of life in America. It should come as no surprise that it can be a difficult process and can cause other aspects of a person’s life to be ignored while it is happening. It is important, though, that a...more

McNair Law Firm, P.A.

The New Section 199A 20% Profit Deduction for Pass-Through Businesses: A Case Study: Court Reporters

by McNair Law Firm, P.A. on

Congress enacted the new Section 199A 20% profit deduction for the owners of pass-through businesses, and which include Subchapter S corporations, LLCs, sole proprietorships, and even certain trusts. Section 199A is intended...more

Foodman CPAs & Advisors

IRS gives Internal Revenue Manual Voluntary Disclosure Consideration if…….

by Foodman CPAs & Advisors on

When IRS reviews a criminal tax case, consideration is given to various factors such as whether a voluntary disclosure was made, whether prosecution exists, the health, age and mental condition of the Taxpayer and whether a...more

Neal, Gerber & Eisenberg LLP

Client Alert: Purchases of Partnership and LLC Interests Adversely Affected by Newly-Proposed Regulations Under Code Section 199A

Historically, we have advised clients that it is no less advantageous, from a federal income tax perspective, to acquire a partnership interest (including a membership interest in an LLC taxed as a partnership) than it would...more

Foodman CPAs & Advisors

¿Qué es un evento tributable en la moneda virtual?

by Foodman CPAs & Advisors on

Sigue habiendo dirección limitada del Tesoro de los EE.UU y el IRS sobre la Moneda virtual (MV) y los inversionistas de la MV deben proceder con cautela....more

Foodman CPAs & Advisors

Lo que sabemos sobre el Cumplimiento Crypto y los impuestos federales de los EE. UU.

by Foodman CPAs & Advisors on

La última Notificación emitida por el IRS sobre Criptomoneda fue el Aviso 2014-21 publicado el 25 de Marzo del 2014 que brinda orientación en forma de respuestas a preguntas frecuentes (“Frequently Asked Questions”). ...more

Pierce Atwood LLP

Maine Revenue Services Alerts Taxpayers That Amended 2017 Returns May Be Required

by Pierce Atwood LLP on

Maine Revenue Services (MRS) issued guidance late last week responding to the state’s recently-enacted tax conformity legislation. ...more

Dickinson Wright

Taxpayers Should Review Their 2018 Year-To-Date Federal Income Tax Withholding

by Dickinson Wright on

It’s not too late for wage-earners to review their withholding allowances claimed on IRS Form W-4 to avoid a possibly unpleasant surprise when filing their 2018 tax return in early 2019. ...more

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JD Supra Privacy Policy

Updated: May 25, 2018:

JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.

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Links to Other Websites

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Information for EU and Swiss Residents

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Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

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California Privacy Rights

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Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

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Access/Correct/Update/Delete Personal Information

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Changes in Our Privacy Policy

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Contacting JD Supra

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How We Use Cookies and Other Tracking Technologies

We use cookies and other tracking technologies to:

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Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at: privacy@jdsupra.com.

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