Tag Archives: IRS

Avoid IRS Penalties With Form 1099 Tips From the American Payroll Association

27 Jan
Form 1099

SAN ANTONIO, Jan. 27, 2023 /PRNewswire/ — Any business that hired an independent contractor in 2022 has until January 31 to submit Form 1099-NEC, Nonemployee Compensation, to the IRS or face penalties. New for this year, the IRS announced a new online filing portal for Forms 1099, the Information Returns Intake System (IRIS). Ensure your tax reporting is correct for 2022 […]

CRS Compliant ICO Operational Trading Platform

24 Feb
ICO operational trading platform

The one CRS and FATCA compliant ICO operational trading platform, exempt from SEC registration, is overseas retirement speed; lack of bureaucratic “red tape”; interest generated by offerings; and/or low cost of the process. In recent months, there has been an increased regulatory focus on ICOs. Just to recap in very basic terms – the regulations […]

Free File Tops 50 Million Users Continuing to Serve the American Taxpayers

15 Apr
American Taxpayers

WASHINGTON, April 15, 2017 /PRNewswire-USNewswire/ — The Free File Program is pleased to announce that the Free File Alliance, the pioneering public-private partnership between industry-leading tax software companies and the IRS, that makes free tax software available to 70 percent of taxpayers, recently surpassed 50 million users since the program started. Tim Hugo, Free File Alliance […]

Anti-FATCA lawyer rejects Europe threat to US taxpayers

24 Mar
Improving Women's Retirement Security and US taxpayers

Sanctions unlikely, lobbyist says The leading advocate for repeal of the U.S. Foreign Accounts Tax Compliance Act has called “laughable” any attempt to sanction Washington – should it rescind FATCA – for noncompliance with copycat European tax laws. Washington-based anti-FATCA tax-lawyer and lobbyist James Jatras said European efforts to pinpoint U.S. taxpayers through the Organization […]

Charitable Remainder Trust Problems

02 Dec
Charitable Remainder Trust

Charitable Remainder Trust Overview: 1) Trust status cannot extend to beneficiaries and participants The point for all to grasp is that whatever the legal, juridical and tax status of funding structures, that status cannot extend to beneficiaries and participants as individuals. That is why a trust is quite useless to beneficiaries and participants. Besides it […]

Top 3 Immediate Considerations for Wealth Transfer Valuation Discounting from McManus & Associates

21 Sep
Abstract image of ice and fire to depict wealth transfer valuation discounting

Recently proposed IRS regulations mean discounting opportunities could expire by year-end, explains top-rated tax and estate planning attorney  NEW YORK, NY – September 21, 2016 – Proposed Internal Revenue Service (IRS) regulations were recently issued that would eliminate discounting opportunities related to wealth transfer planning. McManus & Associates, a top-rated estate planning law firm with […]

Broken Dreams – How Tax Non-Compliance Can Destroy the American Dream of Undocumented Immigrants – Part 1

19 Sep
Lady Liberty immigrants

The U.S. Presidential Elections have shifted into overdrive with both the Republican and Democratic holding their conventions over the next two weeks to select Donald Trump and Hillary Clinton as their party’s candidates respectively.  Viewed in tandem with Britain’s departure from the European Union and recent acts of terrorism in France and Belgium, the political […]

Double Down! – Inter-Generational Split Dollar Throws Sand in the Face of the IRS Again

14 Aug
friends toasting the IRS with champagne flute on beach at sunset

Recently I wrote an article on JD Supra called Split to Be Tied (May 4, 2016) regarding the Tax Court decision in Estate of Morrissette, (Estate of Clara M. Morrissette v. Commissioner, 146 T.C. No. 11 (April 13, 2016)). Once again, the IRS has lost a significant inter-generational split dollar case – Estate of Marion Levine, Deceased v. […]