IRS Looking for Bogus Tax Shelters
These sophisticated schemes, particularly those involving micro-captive insurance shelters, can be peddled by promoters and others to avoid taxes.
These sophisticated schemes, particularly those involving micro-captive insurance shelters, can be peddled by promoters and others to avoid taxes.
Taxpayers who turned age 70½ during 2017 must start receiving required minimum distributions (RMDs) from Individual Retirement Accounts (IRAs) and workplace retirement plans by Sunday, April 1, 2018.
Cybercriminals sometimes post stolen EFINs, PTINs and CAF numbers on the Dark Web as a crime kit for identity thieves who can then file fraudulent tax returns. EFINs are necessary for tax professionals or their firms to file client returns electronically.
Taxpayers must file their 2017 tax returns by April 17, 2018, or request a six-month extension. Extensions can be requested using Free File, by filing Form 4868 or by paying all or part of the estimated income tax due and indicating that the payment ...
As a small business owner, it’s easy to take your latest earnings and plough it right back into the company. It makes sense; spend money now to make money later, capitalize on the gains before the moment passes. Small business owners are masters of ...
The Internal Revenue Service will begin to ramp down the 2014 Offshore Voluntary Disclosure Program (OVDP) and close the program on Sept. 28, 2018. By alerting taxpayers now, the IRS intends that any U.S. taxpayers with undisclosed foreign financial ...
At some point in your tax practice, you’ll no doubt have clients who need representation before the IRS, or you may want to expand your practice to include this service. Here’s what you need to know with regard to IRS representation and power of attorney.
In the annual WalletHub survey, which adds a little humor to the tax season, Americans shared their feelings about the agency, taxes, and President Trump's efforts at reforms. And don't forget: Tax day is April 17 this year.