by Leif Jensen | Aug 2, 2011 | General |
The IRS is planning to expand its comprehensive employment tax audit program. Hurray… The process began last year, when they conducted the first batch of payroll tax examinations to fine-tune its return selection formulas and calculate the portion of the tax gap...
by Leif Jensen | Aug 2, 2011 | General |
Illinois Sales Tax Amnesty still available through October 15, 2011. You must file a separate paper Form ST-44, Illinois Use Tax Return, for each year (2004, 2005, 2006, 2007, 2008, 2009, and 2010) that you have a use tax liability and write “Amnesty” in red on the...
by Leif Jensen | Aug 2, 2011 | General |
No waiver is allowed when a filer dies before completing a rollover. The Service privately rules. In this case, a retiree took a payout from his firm’s plan and died before he was able to complete a rollover to an IRA. The Revenue Service declined to waive the 60-day...
by Leif Jensen | Aug 2, 2011 | General |
The federal limits on the supply of imported sugar in the U.S. market are boosting prices for bakeries, candy makers and other small businesses, according to the president of the Sweetener Users Association, a beltway lobby group. The U.S. is currently the world’s...
by Leif Jensen | Aug 2, 2011 | General |
Financial troubles can now be an excuse for late payroll tax deposits, according to the Tax Court says. I am curious how this case would play in Illinois since this is a Florida case. Since the double impact of a recession and a significant decline in the region’s...
by Leif Jensen | Aug 2, 2011 | General |
The Service has developed a new audit guide for the business consulting industry. It instructs examiners on what issues to look for, such as bartering on the Internet, employee or independent contractor classification, and improper shifting of income to a related...
