The IRS announced on January 20, 2012 by issuing SBSE 05-0112-013 that it has made significant changes to its steamlined installment agreements (SIA). What is a SIA? The IRS has the authority to enter … [Read more...] about IRS Eases Streamlined Installment Agreements
IRS Tax Planning Ideas, Tips & News
IRS Announces 2012 Mileage Rates
The IRS has released (IRS Notice 2012-1) the 2012 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving expense … [Read more...] about IRS Announces 2012 Mileage Rates
THE DUMMY CONTRACT – PROTECT YOUR IRA ASSETS
How would you like to learn that your IRA account participated in a transaction whereby the entire value of your IRA account is deemed to be taxable to you … [Read more...] about THE DUMMY CONTRACT – PROTECT YOUR IRA ASSETS
IRS TAX TREATMENT OF EMPLOYER-PROVIDED CELL PHONES
The IRS recently released Notice 2011-72 to provide guidance on the tax treatment of cellular phones or other similar telecommunications equipment that employers provide to their employees. … [Read more...] about IRS TAX TREATMENT OF EMPLOYER-PROVIDED CELL PHONES
Illegal Workers Received $4.2 Billion in Tax Credits
The Treasury Inspector General for Tax Administration (TIGTA) reported on July 7, 2011 that individuals who are not authorized to work in the USA were paid $4.2 Billion in refundable tax credits from … [Read more...] about Illegal Workers Received $4.2 Billion in Tax Credits
Is It Time to Consider Purchasing a Rental Property?
With the housing market selling at depressed prices, is this a good time to purchase a home and use it as a rental property? The answer to that question will … [Read more...] about Is It Time to Consider Purchasing a Rental Property?
