Paid Tax return preparers must exercise due diligence when preparing and assisting taxpayers in complying with federal tax laws. There are civil penalties imposed on paid tax return preparers who violate IRC Sec. 6695 (g). Tax return preparers
Online retailers have good reason to look out for the Texas Limited Sales, Use & Excise Tax. Each State is permitted to change its laws governing transactions to realize this new source of revenue. It is hard to imagine that Texas would not extend its sales, use and excise taxes to reach online retailers selling into Texas from other States or Countries. The U.S. Supreme Court has given the States a green light to tax online retailers selling goods and services into their States from remote locations.
The IRS will not impose accuracy related penalties upon a showing by the taxpayer that there was reasonable cause for the tax position and that they acted in good faith with respect to the tax position or act in question.
Read discount coupons’ fine print. IRS refunds like discount coupons can be lost for a variety of reasons. That is why you need to read the fine print; so that, it is more likely than not, that you receive what you expected. Read carefully the fine print of the Internal Revenue Code too
On Monday, March 13, 2018 the IRS announced that it will end the Offshore Voluntary Disclosure Program on September 28, 2018. Taxpayers who have not taken advantage of the 2014 OVDP must act quickly.
U.S. Citizenship and Immigration Services (USCIS) Form I-9 is required to be used by all employers regardless of whether they are classified as large, medium, small employers to document their continuous compliance with their obligations under Public Law 99-603.
Cryptocurrency or Virtual currency may act like a monetary currency, but it is not considered legal tender in the United States or anywhere else in the world. The sale, purchase, and use of virtual currency have real tax consequences under U.S. federal tax law.
The 2017 Tax Cuts and Jobs Act became law during the closing days of 2017. This blog will look at these significant tax law changes from the perspective of a practicing tax professional’s point-of- view.