Corporate Income Tax Archives | Page 2 of 4

New Policy: Unused Taxpayer ID Numbers Will Expire after Five Years

By Lauryn Charles|2014-07-31T16:22:01-04:00July 31st, 2014|Business Start-Ups and Closures, Corporate Income Tax, Employers|

original article: http://www.daszkalbolton.com/index.php?src=gendocs&ref=NewPolicy-UnusedTaxpayerIDNumbersWillExpireAfterFiveYears#.U9pXSPldXgs Individual Taxpayer Identification Numbers (ITINs) will expire if not used on a federal income tax return for five consecutive years, the IRS recently announced. In order to give all interested parties time to adjust to the new policy, the IRS added that it will not begin deactivating ITINs [...]

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Tax Changes for 2014

By Lauryn Charles|2014-01-12T14:06:30-05:00January 12th, 2014|Corporate Income Tax, Employees, Employers, Foreign Income and Accounts, Health Care Reform, Individual Income Tax|

Welcome 2014! As the new year rolls around, it's always a sure bet that there will be changes to the current tax law and 2014 is no different. From health savings accounts to retirement contributions and standard deductions, here's a checklist of tax changes to help you plan the year [...]

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IRS Provides Tax Relief to Victims of Hurricane Isaac; Return filing and Tax Payment Deadline Extended to Jan. 11, 2013

By Lauryn Charles|2012-09-05T16:07:27-04:00September 5th, 2012|Corporate Income Tax, Individual Income Tax|

source: IRS.gov Podcast Disaster Assistance: English | Spanish WASHINGTON –– The Internal Revenue Service is providing tax relief to individuals and businesses affected by Hurricane Isaac. Following recent disaster declarations for individual assistance issued by the Federal Emergency Management Agency, the IRS announced today that affected taxpayers in Louisiana and [...]

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Health Insurance Tax Breaks for the Self-Employed

By Lauryn Charles|2012-03-15T12:32:13-04:00March 15th, 2012|Corporate Income Tax, Health Care Reform|

source: IRS.gov If you're self-employed and paying for medical, dental or long-term care insurance, the IRS wants to remind you about a special tax deduction for some insurance premiums paid for you, your spouse, and your dependents. Starting in tax year 2011, this deduction is no longer allowed on Schedule [...]

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IRS Issues Rules for Providing K-1s Electronically

By Lauryn Charles|2012-02-20T15:40:27-05:00February 20th, 2012|Corporate Income Tax, Forms, Individual Income Tax|

Source: IRS.gov WASHINGTON — The IRS today issued guidance that now allows partnerships to provide Schedule K-1, Partner’s Share of Current Year Income, Deductions, Credits, and Other Items electronically to recipients. Certain entities, such as partnerships, are required annually to file K-1s with the IRS and provide a copy to [...]

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Tax Tips for the Self-employed

By Lauryn Charles|2012-01-25T12:12:07-05:00January 25th, 2012|Business Start-Ups and Closures, Corporate Income Tax, Individual Income Tax|

Source: IRS.gov There are many benefits that come from being your own boss. If you work for yourself, as an independent contractor, or you carry on a trade or business as a sole proprietor, you are generally considered to be self-employed. Here are six key points the IRS would like [...]

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2011 Changes Offer Tax Benefits to Almost Everyone; Special Tax Payment and Reporting Requirements Apply to Many

By Lauryn Charles|2012-01-07T15:54:27-05:00January 7th, 2012|Corporate Income Tax, Individual Income Tax|

Source: http://www.irs.gov/newsroom/article/0,,id=251837,00.html FS-2012-01, January 2012 Two Extra Days to File and Pay Taxpayers across the nation will have until Tuesday, April 17, 2012, to file their 2011 income tax returns and pay any taxes due. Taxpayers have extra time because April 15 falls on Sunday, and Emancipation Day, a holiday [...]

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IRS Expands and Makes Permanent Its Compliance Assurance Process (CAP) for Large Corporate Taxpayers

By Lauryn Charles|2011-04-19T02:03:55-04:00April 19th, 2011|Corporate Income Tax|

Source: IRS.gov WASHINGTON — Internal Revenue Service officials announced today that the six-year-old Compliance Assurance Process (CAP) pilot program for large corporate taxpayers is being expanded and made permanent. “This marks another important step in our evolving relationship with corporate taxpayers,” said IRS Commissioner Doug Shulman. “Through greater cooperation and [...]

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Eight Facts on Penalties

By Lauryn Charles|2011-02-10T01:02:10-05:00February 10th, 2011|Corporate Income Tax, Individual Income Tax, Penalties and Interest, Tax Payments|

Source: IRS.gov When it comes to filing a tax return – or not filing one - the IRS can assess a penalty if you fail to file, fail to pay or both. Here are eight important points the IRS wants you to know about the two different penalties you may [...]

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