Taxation in the United States

From the Tax Law Offices of David W. Klasing - Can You Be Prosecuted if You Withheld Information in Your Offshore Voluntary Disclosure?

Retrieved on: 
Thursday, June 10, 2021
Taxation in the United States, Tax

Through the Offshore Voluntary Disclosure Program (OVDP) , taxpayers can correct their offshore tax issues and secure a pass on criminal tax prosecution if the terms of the program are strictly complied with.

Key Points: 
  • Through the Offshore Voluntary Disclosure Program (OVDP) , taxpayers can correct their offshore tax issues and secure a pass on criminal tax prosecution if the terms of the program are strictly complied with.
  • Doing so may be the best way to make good on your tax liability and avoid criminal consequences.
  • Call the Tax Law Offices of David W. Klasing at (800) 681-1295 for a consultation with our experienced tax team or schedule online here to receive a reduced rate initial consultation .
  • View original content to download multimedia: http://www.prnewswire.com/news-releases/from-the-tax-law-offices-of-davi...
    SOURCE Tax Law Offices of David W. Klasing, PC

WeGetFinancing to Provide 100% approval for Instant Credit and Deferred Payment Options to IRS Logics Customer Relationship Management (CRM) participating Tax Resolution Firms' customers

Retrieved on: 
Thursday, June 10, 2021
Payment systems, Tax, Money, Taxation in the United States, Payments, Credit card, Internal Revenue Service, Alternative payments, Credit

"WeGetFinancing gives us another way for our merchants' customers to pay," said Rob Pugh, IRS Logics' Chief Executive Officer.

Key Points: 
  • "WeGetFinancing gives us another way for our merchants' customers to pay," said Rob Pugh, IRS Logics' Chief Executive Officer.
  • He added, "WeGetFinancing was an attractive choice for IRS Logics in delivering an alternative payment solution to credit cards to our customers.
  • With over 3,000 active Tax Resolution Merchants, IRS Logics understands their customers' need for instant credit and deferred billing options, especially in an economic environment where credit grantors are slashing credit limits to lower FICO score applicants and raising fees."
  • IRS Logics ( www.irslogics.com )is a premier CRM all-encompassing software solution to Tax Resolution businesses throughout the United States since 2001.

electroCore Completes Sale of $1.4 Million of NJ NOL Tax Benefits 

Retrieved on: 
Wednesday, June 9, 2021
Taxation in the United States, Internal Revenue Code, Net operating loss, Nol, ElectroCore, Nol, Tax, Companies

As a result, the Company has received approximately $1.4 million in non-dilutive cash from the sale of these net operating loss (NOL) tax benefits.

Key Points: 
  • As a result, the Company has received approximately $1.4 million in non-dilutive cash from the sale of these net operating loss (NOL) tax benefits.
  • This transaction strengthens our balance sheet and further improves our cash position, commented Brian Posner, Chief Financial Officer of electroCore.
  • The New Jersey Technology Business Tax Certificate Transfer program enables qualified, NJ-based technology or biotechnology companies with NOLs and fewer than 225 U.S. employees to sell a percentage of their NOL tax credits to unrelated profitable corporations.
  • NOLs may be sold for at least 80 percent of their value, up to a maximum lifetime benefit of $15 million per business.

Certain DWS Closed-End Funds Declare Monthly Distributions

Retrieved on: 
Tuesday, June 8, 2021
Banking, Professional services, Finance, Tax, Money, Finance, Income tax in the United States, Income tax, Alternative minimum tax, Legal entities, State taxation in the United States, International taxation, Taxation in the United States, Corporate tax in the United States

Although the fund seeks income that is exempt from federal income taxes, a portion of the funds distributions may be subject to federal, state and local taxes, including the alternative minimum tax.

Key Points: 
  • Although the fund seeks income that is exempt from federal income taxes, a portion of the funds distributions may be subject to federal, state and local taxes, including the alternative minimum tax.
  • Although the fund seeks income that is exempt from federal income taxes, a portion of the funds distributions may be subject to federal, state and local taxes, including the alternative minimum tax.
  • Closed-end funds, unlike open-end funds, are not continuously offered.
  • The price of a funds shares is determined by a number of factors, several of which are beyond the control of the fund.

StrikePoint Gold Enters into a Definitive Agreement with 1911 Gold Corporation for the Sale of Its Angelina Property in Manitoba and Grants Stock Options

Retrieved on: 
Monday, June 7, 2021
Options, Employee compensation in the United States, Employee stock option, Incentive stock option, Taxation in the United States

The Company will retain a one percent (1.0% percent) net smelter returns royalty, which may be purchased by 1911 at any time for payment of $500,000.

Key Points: 
  • The Company will retain a one percent (1.0% percent) net smelter returns royalty, which may be purchased by 1911 at any time for payment of $500,000.
  • StrikePoint Gold also announces that it has granted 4,850,000 incentive stock options to its directors, officers, consultants and employees pursuant to the Company's stock option plan.
  • The options are exercisable for a period of five years at a price of $0.25 per share.
  • StrikePoint Gold is a gold exploration company focused on building high-grade precious metals resources in Canada.

Credit Karma Founder & CEO to Present at Investor Conference

Retrieved on: 
Thursday, June 3, 2021
Professional services, Data management, Technology, Software, Finance, Internet, Accounting, Accounting software, Taxation in the United States, Software, Business software, Intuit, Credit Karma, QuickBooks, INTU, TurboTax, Kenneth Lin, INTU

Intuit (Nasdaq: INTU) announced today that Kenneth Lin, founder and CEO of Credit Karma, will participate in a fireside chat at the virtual Bank of America 2021 Global Technology Conference, on Tuesday, June 8.

Key Points: 
  • Intuit (Nasdaq: INTU) announced today that Kenneth Lin, founder and CEO of Credit Karma, will participate in a fireside chat at the virtual Bank of America 2021 Global Technology Conference, on Tuesday, June 8.
  • The fireside chat will begin at 2:30 p.m. PDT/5:30 p.m. EDT and will be available live via audio webcast on Intuits investor relations website at https://investors.intuit.com/events-and-presentations/default.aspx .
  • Intuit is a global technology platform that helps our customers and communities overcome their most important financial challenges.
  • Serving approximately 100 million customers worldwide with TurboTax , QuickBooks , Mint and Credit Karma , we believe that everyone should have the opportunity to prosper.

The Supreme Administrative Court has concluded a tax ruling regarding years 2012-2014: Hoist Finance

Retrieved on: 
Thursday, June 3, 2021
Tax resistance in the United States, Taxation in the United States

STOCKHOLM, June 3, 2021 /PRNewswire/ -- The Swedish Tax Agency has pursued a case against Hoist Finance where the Administrative court of appeal ruled in favour of Hoist Finance, as was communicated on 2 December 2019.

Key Points: 
  • STOCKHOLM, June 3, 2021 /PRNewswire/ -- The Swedish Tax Agency has pursued a case against Hoist Finance where the Administrative court of appeal ruled in favour of Hoist Finance, as was communicated on 2 December 2019.
  • The case was then appealed by the Swedish Tax Agency to the Supreme Administrative Court (the "SAC"), which also ruled in favour of Hoist Finance.
  • The Administrative court of appeal concluded - in contrast to the view of the Tax Agency - that Hoist Finance had the right to utilise the tax losses.
  • The SAC has today favoured Hoist Finance's view and decided to uphold the decision of the Administrative court of appeal.

McDonald Hopkins welcomes Adam J. Baginski to Business Department in Detroit

Retrieved on: 
Wednesday, June 2, 2021
Charity law, Taxation in the United States, Articles, Organizations, 501(c) organization, Nonprofit organization, 501(h) election

DETROIT, June 2, 2021 /PRNewswire/ -- Adam J. Baginski has joined McDonald Hopkins as an Associate in the Business Department in the firm's Detroit office.

Key Points: 
  • DETROIT, June 2, 2021 /PRNewswire/ -- Adam J. Baginski has joined McDonald Hopkins as an Associate in the Business Department in the firm's Detroit office.
  • Baginski has experience assisting clients with corporate governance needs, mergers and acquisitions, and business reorganization and succession planning.
  • Baginski has additional experience with the preparation of documents necessary for the formation of 501(c)(3) and 501(c)(4) tax-exempt nonprofit organizations.
  • Founded in 1930, McDonald Hopkins is a business advisory and advocacy law firm with locations in Chicago, Cleveland, Columbus, Detroit, and West Palm Beach.

PureGame Adds Amber Ochoa To Its Board Of Directors

Retrieved on: 
Tuesday, June 1, 2021
501(c) organization, Charity law, Taxation in the United States

ORANGE COUNTY, Calif., June 1, 2021 /PRNewswire/ -- PureGame announced today the addition of Amber Ochoa to its Board of Directors.

Key Points: 
  • ORANGE COUNTY, Calif., June 1, 2021 /PRNewswire/ -- PureGame announced today the addition of Amber Ochoa to its Board of Directors.
  • PureGame is a 501 (c)3 nonprofit organization that delivers sports-based Social Emotional Learning programs to kids across Orange County.
  • As a member of PureGame's Board of Directors, Ochoa will offer guidance and expertise to develop and execute marketing and communication strategies to support the organization's new program offerings.
  • Ochoa believes passionately that organized sports has lasting, positive effects on everyone they touch coaches, players, and their families.

Study Finds Deep Flaws in Advocates' Claims that the Massachusetts Tax Code is Regressive

Retrieved on: 
Tuesday, June 1, 2021
Tax, Tax incidence, Taxation in the United States, Progressive tax, Surtax, Income tax, Corporate tax avoidance, Global issues

Among other flaws, the ITEP analysis excludes some of the most progressive elements of the tax code, uses outdated data, and even includes some regressive elements of the federal tax code in a state-level analysis.

Key Points: 
  • Among other flaws, the ITEP analysis excludes some of the most progressive elements of the tax code, uses outdated data, and even includes some regressive elements of the federal tax code in a state-level analysis.
  • Surtax proponents also ignore that ITEP's most recent tax incidence analysis ranks Massachusetts as having a more progressive state tax code than 29 other states.
  • Massachusetts' Tax Inequality Index score was -3.10 in 2018, better than the -3.48 average score of the other 49 states and D.C.
    "Even ITEP says that, compared to other states, Massachusetts has a relatively progressive tax code," said Greg Sullivan, who co-authored "Are Massachusetts taxes regressive?
  • The new Pioneer study also emphasizes how Massachusetts gets a vastly disproportionate share of income tax revenue from the wealthy.