by Leif Jensen | Sep 17, 2011 | General |
Math errors are a two-way street, according to the latest IRS statistics. The Service refunded over $6 billion to filers who made mistakes in 2010. That compares to $9.5 billion that IRS took from those who erred in their own favor, including arithmetic flubs, using...
by Leif Jensen | Sep 17, 2011 | General |
The Illinois Tax Amnesty for internet sales can be considered a failure for Springfield. Apparently tax compliance had doubled, but this can be measured as 4.6% of Illinois taxpayers whom paid $10.2 million. With the honor system failing, we can look for Springfield...
by Leif Jensen | Sep 10, 2011 | General |
According to the Tax Court, IRS agents cannot abate interest on overdue taxes. This comes from a case involving an executor of an estate in Croatia who could not tap bank accounts here to pay U.S. income tax because of long delays encountered in Croatia’s probate...
by Leif Jensen | Sep 10, 2011 | General |
The word “corporation” derives from corpus, the Latin word for body, or a “body of people. The world’s oldest commercial corporation in the world is still in business. It is the Stora Kopparberg mining community in Falun Sweden. It obtained its charter from King...
by Leif Jensen | Sep 10, 2011 | General |
Below is a listing of the 10 oldest companies in the United States: King Arthur Flour Company, Founded in 1790 Norwich, Vermont 2010 Revenue: $81.1 million Flour Company Curtis, Mallet-Prevost, Colt & Mosle Founded in 1831 New York 2010 Revenue: $140 million Law...
by Leif Jensen | Sep 10, 2011 | General |
Some good news, for those whom owe the IRS money for back taxes. Interest rates will decline by a percentage point after Sept. 30, 2011. On overdue taxes, the new rate the IRS will charge is 3%. The rate will be 5% on corporations that owe over $100,000. On refunds,...
