by Leif Jensen | Aug 6, 2011 | General |
As the most recent hurdle of the tax debate recedes from the headlines; it should remain a concern for all. In 2008 the debt was 40% of GDP. In 2011 it will be 69% of GDP. Estimates with no spending cuts, have it hit 80% in 2014. With spending cuts, that may happen...
by Leif Jensen | Aug 5, 2011 | General |
“God forbid we should ever be twenty years without such a rebellion. The people cannot be all, and always, well informed. The part which is wrong will be discontented, in proportion to the importance of the facts they misconceive. If they remain quiet under such...
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...
