On September 1st the Massachusetts Department of Revenue (DOR) began a two month period, which ends October 31, 2014, that cuts late tax payers a potentially huge break.
If you owe money to the Massachusetts DOR, as an Individual or a corporation, you may very well qualify for what they are calling a Tax Amnesty. What this Amnesty does is allow you to waive any late penalties that you have accrued on your state taxes.
Tax identity theft happens when someone files a phony tax return using your personal information (i.e., your SSN) to get a tax refund from the IRS. It also can happen when someone uses your Social Security number to get a job or claims your child as a dependent on a tax return.
Tax identity theft is the most common form of identity theft reported to the Federal Trade Commission. Tax identity theft is a top priority for the IRS, and the IRS has hired new staff, explored new technologies, and adopted new procedures to fight it.
As we near the end of the first week of August, we wanted to remind you of some upcoming filing deadlines.
September 15, 2014
October 1, 2014
There has recently been a surge of U.S. companies moving their legal homes to foreign countries in order to minimize their U.S. taxes this year. Only last week, the Chicago based AbbVie announced an agreement on a $54.7 billion merger with Britain’s Shire designed to cut its U.S.
IRS Tax Fraud: What is it? Why you should care? How can it affect you?
Firms that make late S Corporation elections get welcome news from IRS: A simplified method to request relief without having to seek a private ruling.
One of our clients recently had a situation regarding sales tax and using sub-contractors. Below is the synopsis of the situation as well as how it was handled and the different state tax parameters of New York.
Today, June 26, 2013 the Supreme Court repealed aspects of the Defense of Marriage Act, same-sex partners who reside in a state which recognizes same-sex marriage will be entitled to a plethora of benefits which were previously denied to them.
There will be some restriction of benefits if you are a same sex couple who was married in a state which recognizes it but live in a state which does not. The U.S. Department of Defense, however, will distribute military veteran’s spousal benefits to same-sex couples based on laws in the state where they got married.
The deadline for Voluntary Worker Classification Settlement Program, June 30th, is quickly approaching. Determine if this is something that could save you future scrutiny by reading the below excerpt or following the link to the IRS article. Contact our office with questions or if you need assistance in making the switch.
The IRS has provided tax relief to individuals and businesses affected by the tornadoes in Moore and Oklahoma City and other severe storms occurring in parts of Oklahoma. The tax relief postpones various tax filing and payment deadlines that occurred starting on May 18, 2013, and affected individuals and businesses in Cleveland, Lincoln, McClain, Oklahoma and Pottawatomie counties will have until September 30, 2013, to file these returns and pay any taxes due. This includes the June 17 and September 16 deadlines for making estimated tax payments, the July 31 deadline for second
