Ten Things Tax-Exempt Organizations Need to Know About the Oct. 15 Due Date A crucial filing deadline of Oct. 15 is looming for many tax-exempt organizations that are required by law to file their Form 990 with the Internal Revenue Service or risk having their federal tax-exempt status revoked. Nonprofit organizations that are at risk [...]
Monthly Archives: September 2010
IRS- Relief of Homeowners with Corrisive Drywall
Finally,IRS Provides Relief for Homeowners with Corrosive Drywall The Internal Revenue Service today issued guidance providing relief to homeowners who have suffered property losses due to the effects of certain imported drywall installed in homes between 2001 and 2009. Revenue Procedure 2010-36 enables affected taxpayers to treat damages from corrosive drywall as a casualty loss [...]
Employment Taxes – How Much Taxes Do I Need to Take Out For the IRS?
The IRS Employment Taxes - How it all works – What you need to know Fresh Start Tax is asked over and over about the requirements for business start up, hope this helps. Question: We are about to hire employees and need to know how much tax to take out and where to send this [...]
IRS Deadline Dates coming up for, 1040′s and Non-Profits
Oct. 15 Deadlines: Due Dates for Extension Filers, Non-Profits Approach From the IRS NEWSWIRE Oct. 15 is fast approaching and is a key deadline for millions of individual taxpayers who requested an extension to file their 2009 tax returns. It is also a crucial due date for thousands of small nonprofit organizations at risk of [...]
Business Gifts – Are They Deductable – Rules
These are questions that come up on a routine basis, but are they deductible? Question: Are business gifts deductible and how much? Answer: If you give business gifts in the course of your trade or business you can deduct all or part of the costs subject to the following limitation: You can deduct no more [...]
IRS Adoption Care Credit – Affordable Care Act
Guidance on Expanded Adoption Credit Available for Tax-Year 2010 The Internal Revenue Service today issued guidance on the expanded adoption credit included in the Affordable Care Act. The IRS also released a draft version of the form that eligible taxpayers will use to claim the newly-expanded adoption credit on 2010 tax returns filed next year. [...]
My Spouse Died, How Do I Sign the Tax Return?
Signing the Return of a Deceased Spouse Question: My husband passed away last year, and I will be filing a joint return. Are there any special return notations required to indicate my husband is deceased? Answer: If you are a surviving spouse filing a joint return and no personal representative has been appointed, you should [...]
State of Florida Tax Audit – Aircraft Dealer – Local Professionals
Fresh Start Tax is comprised of Former IRS Agents, Managers and Instructors. The staff also includes CPA’s, tax attorneys and former Managers with the Department of Revenue. Our company are experts in the field of tax and tax resolution. Licensed to practice in all 50 States, we are fast, affordable and put a premium on [...]
Report Fraud, Waste, Mismanagement and Abuse in IRS Programs
Before you read this, make sure your feelings are real. Act and govern yourself accordingly. Are you aware of fraud, waste, mismanagement, and abuse in the IRS programs and operations, report it to the TIGTA’s Hot line! What kinds of things should you report? Allegations of violations that impact the integrity of Federal tax administration [...]
IRS Nanny Requirements- Beware
IRS Nanny Requirements- Do I need to File tax forms? Forms 941, 940, Employment Taxes Question: We hired a nanny to look after our baby while we work. How do we pay her social security taxes and properly report her income? Answer: A nanny is considered a household employee: A household employer only has to [...]
