A return can be picked up for audit for many reasons. If the return is not correctly filled up and excess tax relief is claimed, the IRS is bound to take up the issue with the tax payer. Sometimes the information given in the return may not match with the information returns filed by other […]
Most economic research suggests that tax code replacement surgery is essential for long-term economic progress. The goal of my plan is to make sure that you are not grumbling ten years from now about the same things that trouble you today. This is a fifteen-point plan to end the cycles of economic frustration and global […]
Bank levy is seizure of money lying in the bank account of the tax payer. In all cases of levy, thirty days notice is given by the IRS to the tax payer. This is the final notice for intent to levy and this gives the tax payer a chance to seek relief from proposed action […]
How often have you head someone say: I make 100k a year. It sounds good doesn’t it, but it is not true, regardless of of what your w2 states at the top line. That is so because it is not the top line that matters. What matters is what is left for you to spend […]
If you are unable to pay the full taxes at one go, it is best to apply for an installment agreement in Form 9465. This can be done online, if the tax dues are less than $25,000.
For higher tax dues you will have to fill up Collection Information Statement as well in Form 433F and […]
Maybe you are one of the numerous taxpayers who have been affected by tax penalties levied by the IRS, as you were not able to pay your tax dues on time. It is obvious that for the taxpayers who have tax debts, the IRS will swiftly asses penalties and late fees on the due amount. […]
If you’re thinking about donating a car to a charity you may want to keep the following tips in mind. A car donation tax deduction can benefit not only you and the charity but a person in need also.
Charities have the option of using donated vehicles for their own use, for providing transportation for volunteers […]
Hong Kong’s economy has worsened sharply since early 2004, enabling the Chief Executive to promise in his election pledge to reduce the profits tax rate to 15 percent over his current term of office. This would form a reduction of nearly 14 percent from the current headline rate, enhancing Hong Kong’s reputation as one […]
The Hong Kong-based financial consultancy reports that, beginning in 2009 a newly launched company that sticks to specified conditions can claim a full tax exemption on the first 100,000 Singapore dollars (US$73,000) of normal chargeable income. This is apart from the 50 percent tax exemption provided to the next S$200,000, the report says.
Beginning in […]
Many company directors and owners of small to medium sized companies feel that there has developed over the past ten years an unjust and ever increasing burden of taxation. There is a lot of evidence to suggest that when people feel they are heavily and unfairly taxed they start to look for ways of getting […]
