Following the highly successful offshore voluntary disclosure program's closure at the end of 2018, the IRS updated its previous voluntary disclosure program. In April 2020, it...
Posted by UNIVERSAL ACCOUNTING & FINANCIAL SERVICES INC. on 03/01/2021
It is a common saying that there is nothing as certain as death and taxes. However, the issue with taxes is the inconsistency and the complication. Also, tax is not as old as human...
Posted by One Stop Taxes on 03/01/2021
From the title, you can tell that worthless securities are just what they are: worthless, insignificant, and meaningless. These are securities with ZERO market value and may include...
Posted by Pat Raskob on 03/01/2021
Uncle Sam knows that many taxpayers are trying to limit or completely get rid of their federal income tax. They do this by claiming that all forms of compensation and funds received...
Posted by Income Taxes and Bookkeeping LLC on 02/28/2021
IRC Code, Section 501(c) sheds light explicitly on the critical requirement for a tax-exempt organization. In applying for tax exemptions, firms need first to apply to be recognized...
Posted by Karen Munoz, EA on 02/28/2021
Many people decide to have financial freedom during retirement. It might also be a good idea to take part in the 401(k) plan sponsored by the employer. This is true when you consider...
Posted by KLSM CPA Firm PLLC on 02/28/2021
An IRS relief procedure for certain former citizens was introduced in September 2019 to allow certain Americans to renounce their U.S. citizenship without paying taxes and fines.The...
Posted by Elliot Kravitz, ATP on 02/28/2021
The VCSP (voluntary classification settlement program) is a program developed by the IRS that allows taxpayers to voluntarily reclassify their employees as employees in future tax...
Posted by The TaxAdvocate Group, LLC on 02/28/2021
The beneficiaries of a trust generally pay tax on the distributions they receive from the trust income, then the trust pays for the tax itself. However, these beneficiaries are not...
