Employers with less than $4000 payroll may file Form 944Beginning January 1, 2006, certain employment tax filers will be able to file the new Form 944 (Employer’s Annual Federal Tax Return) once a year rather than filing Form 941 (Employer’s Quarterly Federal Tax Return) four...
The IRS is hiring debt collectors.The Internal Revenue Service plans to turn over the names of people who owe $7.7 billion to debt collection agencies starting in June. If the extra heat pays off, the agency gradually will add to the list as it whittles...
IRS Increases Fees.User fees will be effective Feb. 1, 2006, except as noted. Among the changes:The fee for IRS Chief Counsel private letter rulings will increase from $7,000 to $10,000. Under the new fee schedule, taxpayers earning less than $250,000 can request a private letter...
So you think your $1 million liability insurance policy is enough to protect you? Not anymore! A woman who was beaten, raped and robbed at her Marietta, Ga., apartment was awarded $9 million in compensatory damages by a Fulton County State Court jury. One premises...
The Internal Revenue Service today issued the 2006 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.Beginning Jan. 1, 2006, the standard mileage rates for the use of a car (including vans, pickups...
The new Medicare Prescription drug benefits are confusing and state specific. A plan that is great in New Jersey may be not so good in Pennsylvania. AARP has a free online brochure that does a pretty good job of addressing the general issue. Click here...
As a response to the political pressure of banks and credit card companies, Congress passed the new Bankruptcy Law with many onerous provions to prevent debtors from being discharged. Most debtors will be forced into a payment plan, Chapter 13, rather than a discharge of...
Senate Democrats on November 15, 2005 blocked extension of the reduced tax rates on capital gains and dividends. The provision called for capital gains and dividends to continue to be taxed through 2009 at 15 percent (5 percent for low and middle-income taxpayers, reduced to...
Paypal Names Names As IRS Chases Tax EvadersPayPal, the internet money-transfer arm of eBay, is to disclose the identity of customers who use the service to evade paying US taxes.The US Internal Revenue Service (IRS) is demanding records of customers using PayPal through offshore accounts...
The IRS has issued final, temporary and proposed regulations pertaining to the simplification of procedures for obtaining automatic extensions oftime for filing certain returns.The regulations:(1) extend from four months to six months the period for which individuals may obtain anautomatic extension of time; (2) extend...