Taxesq - IRS Audit and Business Tax Estate Attorney Cherry Hill NJ

Not Filing Tax Returns Costs Billions in Lost Refunds Nearly 2 million students, retirees and other taxpayers stand to lose $2.5 billion in refunds if they don't act quickly to claim the money. The Internal Revenue Service said Monday that anyone who should have gotten a...

IRS to Audit More Small Businesses A restructuring announced by the Internal Revenue Service recently could mean that more small businesses see audits of their income tax returns. The IRS said it would be adding 2,200 new positions to its enforcement, or audit, operations in...

IRS Audits its Own! The IRS recently targeted 800 of its employees for audit in an effort to ensure that IRS employees are meeting tax filing and payment requirements. Last year, IRS staff first discovered a pattern of business loss deductions on their coworkers' returns. The...

Florida Republicans Hike Taxes Although Rebublicans have cut taxes in Florida for the past 5 years, Gov.Jeb Bush and Republican lawmakers are now quietly presiding over Florida's biggest tax increase in more than a decade. The $133 million automatic tax increase is required by state law...

Bush Attacking Medical Malpractice Victims In a typical pandering to the medical profession's attempt to protect physicians who carelessly harm patients, President Bush is campaigning to stop malpractice victims from recovering for their full losses. Mr. Bush is attempting to limit damages to $250k. If a...

IRS Computer Error Rejects Tax Returns Thousands of electronically filed tax returns were initially rejected in the past few days because of a computer glitch. The problem began January 16, 2004 when the Internal Revenue Service officially opened the channels for electronic filing used by many...

Revised Form 8332 permits never-married parents to waive child exemption IRS has revised Form 8332 (Release of Claim to Exemption for Child of Divorced or Separated Parents) and IRS Pub No. 504 p. 8 (Divorced or Separated Individuals) to permit a never-married noncustodial parent to claim...

Pres. Bush's State of The Union Address Advocates Making Tax Cuts Permanent President Bush state that tax cuts had invigorated the economy, and he wants Congress to make permanent the temporary tax reductions passed in 2001 and 2003. Those tax cuts include an expansion of...

IRS Continues to Reject Formula Gifts In TAM 200337012 (September 12, 2003), the IRS has specifically rejected the effectiveness for gift tax purposes of a clause attempting to make a gift of whatever percentage of interest in a family limited partnership equal to a stated dollar...

No Change in Interest Rates for the First Quarter of 2004 WASHINGTON —The Internal Revenue Service today announced there will be no change in the interest rates for the calendar quarter beginning Jan. 1, 2004. The interest rates are as follows: four (4)...