What is the trust fund penalty?The term "trust fund" has a varied meaning when applied to labor tax rather than asset management. This is the amount of payroll tax levied...
The grantor, which can also be called the creator, settlor, trust maker, or trustor, is the party who forms the trust. For married couples, if the trust was established jointly, they...
Deployed service members must submit their taxes. Fortunately, the Internal Revenue Service realizes that the service members and their families face unique circumstances and offer...
There are a series of tax breaks and deductions you can claim if disabled and with this, you get to significantly reduce your income tax and even have a robust tax refund. The...
When you lose a loved one, taxes may be the last thing on your mind. But the task of filing the final tax return for a deceased person may fall on a relative or a friend.If you are...
Military members enjoy many tax benefits, including one-time tax deductions, combat pay exclusions, and extended time limits. Read on to find information on various military-specific...
Posted by Tucker Accounting Services LLC on 01/06/2021
The OPR supports the IRS's strategy to improve tax law enforcement, ensuring that tax professionals meet tax practice standards and comply with the law. The OPR is the regulatory...
Section 4261 of the IRC typically imposes a special 7.5% air tax on amounts paid for "taxable transportation" and certain segment-specific dollar taxes. However, certain...
Background. Effective for each tax year beginning after December 31, 2017, an ATEO is generally subject to a special tax (currently 21%) on the amount of any employee's overcompensation...