by Leif Jensen | May 2, 2017 | General |
“The Fed has long known most of the $100 bills aren’t in America. It doesn’t take great insight to realize they are being used to finance illicit activities,” Alan Blinder, Princeton University economist and a former vice chairman of the Federal Reserve, said in an...
by Leif Jensen | May 1, 2017 | General |
It has been deemed that IRS agents cannot proceed with a levy that creates economic hardship. But this rule does not apply to levies against corporations, according to the the Tax Court. After a corporation that ran a nursing home did not pay its quarterly...
by Leif Jensen | Apr 26, 2017 | General |
A firm that runs a limousine transportation business recently received bad news from IRS. It found out that it was liable for payroll taxes that were not paid by an employee leasing company. The taxpayer leased its workforce from the leasing company and...
by Leif Jensen | Apr 25, 2017 | General |
With the new boxes on Form 1098, the IRS is collecting more data on home mortgage interest. Lenders must now report the amount of principal outstanding at the start of the year, the mortgage origination date and the address of the property securing the loan....
by Leif Jensen | Apr 24, 2017 | General |
I was having a discussion with one of my kids and somehow we got onto the topic of taxes. Since this was in the middle of tax season I don’t think I brought it up. It may have stemmed from a news story on the radio. But my some was taking the stance that the...
by Leif Jensen | Apr 12, 2017 | General |
Costco’s returns have been weaker lately, so they are increasing their membership fee to compensate. The analysts are ecstatic; they love Costco more than Sam’s Club. I have a client that raves about the superiority of Costco verses Sam’s while only having a...
