by Leif Jensen | Feb 19, 2012 | General |
Who pays taxes in the United States? Individual Returns Stats • Top 1-percent adjusted gross income (AGI) break (TY 2009) $343,927 and above with 36.73% of the total taxes paid • Top 5-percent AGI break (TY 2009) $154,643 and above with 58.66% of the total taxes paid...
by Leif Jensen | Feb 18, 2012 | General |
The President will be looking to passing some significant tax increases this year, for a 2013 start. I expect these to actually go into effect if not this time, it will happen sooner or later. Taking the current top two brackets 33% and 35% tax brackets and raising...
by Leif Jensen | Feb 18, 2012 | General |
If you one of the people who purchased a home in 2008 and received the first-time home buyer credit, beware the IRS is no longer mailing letters to remind you about the recapture of the credit. For home buyers in 2008, the credit was in reality an interest-free loan...
by Leif Jensen | Feb 18, 2012 | General |
Apparently a client who relied upon an attorney to file an estate tax return won’t avoid a penalty, according to a district court. An executor hired a lawyer to do the estate’s return, but the attorney had a mental illness and the 706 was filed over three years late. ...
by Leif Jensen | Feb 18, 2012 | General |
Partnerships can furnish K-1s to their partners electronically, according to the IRS. But there are some prerequisites that need to be met. The partners must approve the e-delivery first and the partnership are required to inform its owners that a paper form will be...
by Leif Jensen | Feb 18, 2012 | General |
The IRS has created a new form to assist taxpayers in filing a complaint against tax preparers. It’s an interesting form. It is unfortunate that we need to have such a form.
