ALERT: IRS Tightens OVDI (Tax Amnesty) Participation Rules
Sep 13, 2012
The IRS primarily operates on a first contact basis. Taxpayers who come forward to correct a problem before they are caught generally are treated better, pay less penalties and avoid criminal prosecut...
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ALERT: Taxpayers Residing outside U.S. questioned at U.S. border regarding back taxes.
Sep 13, 2012
Taxpayers traveling to the United States with unpaid U.S. tax assessments can be detained at the border, questioned, and flagged for follow-up enforcement. If a taxpayer has an unpaid tax liability an...
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Update: Estate and Gift Taxes for the Remainder of 2012
Sep 13, 2012
Continued uncertainty due to Congress's delays
Congress is at a standstill because of the upcoming election and the estate and gift tax laws are still in disarray.The current state of the estate tax ...
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Update: The Tax Implications of OBAMACARE
Sep 13, 2012
The Supreme Court recently ruled that the Patient Protection Affordable Care Act (PPACA) is constitutional. So what does this mean for taxpayers? A lot. Almost every taxpayerwhether they currently ha...
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Economic Substance - Sec.1409 of the Health Care and Educational Reconciliation Act of 2010 - Part 1
Oct 02, 2011
1. The Act.
Section 1409 of the Health Care and Educational ReconciliationActof2010 (P.L. No. 111-152), titled Codification of Economic Substance Doctrine and Penalties, sets out a statutoryeconomic...
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The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (passed by the
Oct 02, 2011
The President on Dec. 17 signed into law a sweeping tax cut compromise negotiated by the White House and Republicans. The Senate approved the bill (H.R. 4853) by an 81 to 19 vote on Dec. 15, and the...
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The FACTA Provisions of the HIRE Act (P.L. No. 111-147) - Part 2
Oct 02, 2011
4. Withholdable Payments to Non-Financial Foreign Entities under New Code 1472
General Rule: A withholding agent must deduct and withhold a 30% tax from any withholdable payment to any entity -- oth...
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The FACTA Provisions of the HIRE Act (P.L. No. 111-147) - Part 1
Oct 02, 2011
On March 18, 2010, the Hiring Incentives to Restore Employment Act (P.L. No. 111-147) or HIRE Act was signed into law by the President. The HIRE Act contains several modifications to the Foreign Acco...
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2011 Estate Planning Update: Important Changes to the Law
Feb 03, 2011
2011 Estate Planning Update
Important Tax Law Changes Retroactive to January 1, 2010
December 17, 2010 marked the passage of the "Tax Relief, Unemployment Insurance Reauthorization, and Job Creation A...
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Simple Estate Planning
Mar 24, 2010
Asset Allocation Ensure that each spouse has allocated their total spousal assets evenly in order to maximize the availabiltiy of the Federal Estate Tax exemption amount. In 2009, it was $3.5 millio...
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