Special provisions in the Code allow taxpayers to donate certain legal rights associated with their property and obtain a charitable contribution for doing so. Typically, a taxpayer must donate their entire interest in the property to obtain a ...
The estimates translate to about 83.6%, of taxes being paid voluntarily and on time. This is in line with recent levels. The new estimate is essentially unchanged from a revised Tax Year (TY) 2008-2010 estimate of 83.8%. After enforcement efforts are ...
One of the advantages of someone running their own business is hiring family members. But when including family members in business operations, certain tax treatments and employment tax rules apply. Here are some facts to know when working with a spouse,
Anyone who prepares or helps prepare a federal tax return for compensation must have a valid PTIN from the IRS before preparing returns, and they need to include the PTIN as the identifying number on any return filed with the IRS.
Many employers outsource to third-party payroll service providers some or all their payroll and related tax duties, such as tax withholding, reporting and making tax deposits. Third-party payroll service providers can help assure filing deadlines and ...
Generally, U.S. taxpayers are taxed on income earned abroad, but may claim a foreign earned income exclusion. To qualify, the taxpayer must (1) be a U.S. citizen who is a bona fide resident of a foreign country the entire tax year or physically ...
The IRS has joined with representatives of the software industry, tax preparation firms, payroll and tax financial product processors and state tax administrators to combat identity theft refund fraud to protect the nation's taxpayers.
E-filing saves taxpayers time by performing calculations and populating forms and schedules using a step-by-step interview process. Once submitted, the information is quickly available to the IRS thus reducing processing time.