Innovative Strategies For Tax Controversies, Business Structuring And Estate Planning
HOSPITALS WOULD NO LONGER BE EXCEPTED FROM PAYING EMPLOYMENT TAXES FOR MEDICAL RESIDENTS UNDER IRS PROPOSAL In what some analysts characterize as an attempted end run around court decisions that cut in the opposite direction, the Internal Revenue Service issues a...
PA. COURT OKS CLASS SUIT AGAINST H&R BLOCK FOR E-FILING FEE Suits filed against H&R Block alleging unnecessary fees for electronically filing clients’ tax returns may be tried as a class action and need not be arbitrated individually, the Pennsylvania Superior...
HELP FOR CHILD TAX CREDIT AVAILABLE ON IRS.GOV The Internal Revenue Service reminds practitioners that taxpayers claiming the Child Tax Credit cannot claim the full $1,000 per child if they received an advance payment check last year. When figuring the credit, they...
TAXATION OF LOTTERY WINNINGS A lump sum payment for the right to receive future installments on a winning lottery ticket is taxable as ordinary income, not capital gain, the Ninth Circuit holds. see: http://www.TaxEsq.com
SENATORS PUSH TO TAX VOIP AFTER 2 YEARS Sens. Thomas Carper and Lamar Alexander revived the debate over taxing Internet access with the introduction of a bill that would reinstate for two-years the now-expired ban on state and local taxation of Internet access...
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...
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,...
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’...
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...
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...
