IRS Q&As shed some new light on the homebuyer credit

First-Time Homebuyer Credit: Questions and Answers, IRS Web Site
Mike Habib, EA Tax Relief & Tax Problem Resolution Services
IRS has posted a number of questions and answers (Q&As) on the first-time homebuyer credit on its web site. They are grouped into four categories: basic information; homes purchased [...]

• Comments Off

IRS unveils 2009 list of notorious tax scams—the “Dirty Dozen” IR 2009-41

Mike Habib, EA Tax Relief & Tax Problem Resolution Services

IRS has unveiled its latest list of notorious tax scams, which it calls the “Dirty Dozen,” highlighted by schemes involving phishing, hiding income offshore and false claims for refunds. IRS warns that these tax schemes [...]

• Comments Off

Get Tax Relief Today
It’s important for you to file your income tax return on time, even if you cannot pay. The IRS does not take delays lightly, so if you already know that you’re going to have a difficult time paying your taxes in full, you want to start exploring your options for tax relief [...]

• 9 Comments

U.K. revises rules on how short-term business trips by employees from other countries are taxed [HMRC website]:
The United Kingdom’s tax agency, Her Majesty’s Revenue and Customs (HMRC), has amended its Employment Procedures (EP) manual with respect to the taxation of income earned by employees from other countries who are working in the U.K. [...]

• Comments Off

Tax Court finds regs imposing time limit on request for relief from joint and several liability invalid Lantz, (2009) 132 TC No. 8
Mike Habib, EA Tax Relief & IRS Tax Help
The Tax Court has concluded that Reg. § 1.6015-5(b)(1), which provides that a spouse must request relief under Code Sec. 6015(f) no later than [...]

• Comments Off

Recession Offers the Best Opportunity to Obtain Tax Relief
American taxpayers are afforded the best IRS tax help in this financial crisis.
Pasadena, CA –(PR.com) — The current financial crisis is the best time to get IRS tax help. Just recently, the IRS has announced that it will adopt a more humane approach to taxpayers who are [...]

• Comments Off

IRS posts Q&As on the Making Work Pay Credit
Making Work Pay Credit: Questions and Answers, IRS Web Site
IRS has posted a number of questions and answers (Q&As) on the Making Work Pay Credit (MWPC) on its web site. They are grouped into four categories: general issues, Form W-4, new withholding tables, and economic recovery [...]

• Comments Off

G-20 includes accounting reform in proposed overhaul of market regulation
Mike Habib, EA Tax Relief & Tax Problem Resolution

Summary: The heads of the leading 20 world economies called on accounting standard-setters to revise fair value guidance and adopt a single, global set of global accounting rules. The leaders also agreed to regulate hedge funds, increase oversight [...]

• Comments Off

Roundup of recent employment tax related cases of interest
Mike Habib, EA Tax Relief & Tax Problem Resolution
Federal courts have recently issued rulings on: (1) whether medical residents may qualify for the student FICA exception, (2) whether an employee’s embezzlement was reasonable cause for failing to remit withholding taxes, and (3) whether the sole owner of [...]

• Comments Off

Former Vice President of Finance Pleads Guilty to Grand Theft, False State Income Tax Returns
A Chatsworth man pleaded guilty to one felony count of grand theft and one felony count of filing a false state income tax return.
James I. Ha, 35, was employed as the vice president of finance for a local marketing company. According [...]

• Comments Off

Most Tax Procrastinating City in America

Settle with IRS and resolve your tax problems by contacting the tax firm of Mike Habib, EA at 1-877-78-TAXES or online at myirstaxrelief.com

As reported by Intuit, maker of TurboTax.
 
SAN DIEGO–(BUSINESS WIRE)–April 1, 2009–It’s the 50 yard dash to the April 15 tax deadline and Intuit (NASDAQ: INTU), the maker of [...]

• Comments Off

Adverse conditions may allow certain U.S. citizens to claim foreign earned income and housing cost exclusions [Rev Proc 2009-22]:  
Individuals who were forced to leave certain foreign countries in 2008 because of adverse conditions may still qualify as bona fide residents of that country for purposes of the IRC §911 foreign income tax exclusion.  Under [...]

• Comments Off