by Leif Jensen | Jul 25, 2011 | General |
I was having a discussion with a client regarding tax rates. I was sharing the limits for the top 10% of the US about $115,000 in Adjusted Gross Income (AGI). As the conversation went on we discussed the amount of taxes a couple pays. So we did a quick calculation...
by Leif Jensen | Jul 23, 2011 | General |
An outside payroll firms can be penalized for not turning over trust fund taxes, in a timely fashion, according to the IRS. It will assess the 100% penalty on employee leasing companies and the like that willfully fail to remit payroll taxes. Utilizing an outside...
by Leif Jensen | Jul 23, 2011 | General |
It appears that the IRS is aware that they exist! “Ghost Preparers” are those who charge fees for tax preparation but refuse to and don’t sign returns. To help track down these culprits, the IRS have sent mailings to taxpayers, who’s tax returns are somewhat...
by Leif Jensen | Jul 23, 2011 | General |
Having a large dollar volume of stock purchases does not always make you a trader in the eyes of the IRS. in this case a businessman who had 313 transactions for over $20 million in securities during a year; but he traded only on 29% of the available days and rarely...
by Leif Jensen | Jul 23, 2011 | General |
The IRS is investigating the paid preparers who continued to utilize their Social Security numbers or invalid pin last tax year instead of a valid tax preparer pin. The IRS has begun mailing letters this month to 100,000 or so of these preparers. The notices tell...
by Leif Jensen | Jul 22, 2011 | General |
According to Labor Department data; thirty percent of America’s jobless, 4.4 million people, have been out of work for more than a year (these are U3 statistics not U6, where the numbers will be higher). “It really is going to take a concentrated effort of employers...
