The Small Business Jobs Act, P.L. 111-240, requires taxpayers who own rental property (hereinafter referred to as "taxpayers") to issue Form 1099 (typically Form 1099-Misc) to service providers for … [Read more...] about Rental Property Owners Required to Issue 1099s
IRS Tax Planning Ideas, Tips & News
Overview of the tax provisions in the 2010 Tax Relief Act
The newly enacted “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” signed into law on December 17, 2010 provides for several changes to both individuals and … [Read more...] about Overview of the tax provisions in the 2010 Tax Relief Act
IRS Mailing To First-Time Home Buyers
The IRS is mailing letters to homeowners who claimed the First-Time Hombuyer Credit. The IRS is notifying the homebuyer that unless the home remains the primary residence of the homebuyer for at least … [Read more...] about IRS Mailing To First-Time Home Buyers
Wesley Snipes Tax Conviction
Nathan J. Hochman wrote an article published by CCH, a Wolters Kluwer company, that discusses the lessons learned from the Wesley Snipes tax convictions. Mr. Hochman is a Partner at Bingham McCutchen … [Read more...] about Wesley Snipes Tax Conviction
IRS Discontinuing 8109 Coupon
The IRS is sending business taxpayers notices by mail announcing that effective January 1, 2011, they are required to make their federal tax deposits electronically. The notice states that failure to … [Read more...] about IRS Discontinuing 8109 Coupon
IRS Announces 2011 Standard Mileage Rates
The IRS recently announced in Notice 2010-88 the 2011 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving … [Read more...] about IRS Announces 2011 Standard Mileage Rates
