Revenue services

From the Tax Law Offices of David W. Klasing - How to Prepare if You Think You Might Be Audited by the IRS

Retrieved on: 
Tuesday, June 23, 2020
Tax, Revenue services, Taxation in the United States, Internal Revenue Service

Furthermore, taxpayers with undisclosed overseas bank accounts and unreported offshore taxable income tend to be audited at an increasingly higher rate.

Key Points: 
  • Furthermore, taxpayers with undisclosed overseas bank accounts and unreported offshore taxable income tend to be audited at an increasingly higher rate.
  • One of the best things you can doto prepare for an audit is to organize your records by tax year as well as type of income or expense.
  • However, you should never amend your returns after being notified you are under audit before consulting with an experienced tax attorney like those at The Tax Law Offices of David W. Klasing.
  • 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

IBFD launches the 2019 Yearbook on Taxpayers’ Rights

Retrieved on: 
Monday, June 8, 2020
Tax, Taxation in the United States, Revenue services, Conservatism in the United States

Taxpayers rights serve as the foundation for effective tax administration.

Key Points: 
  • Taxpayers rights serve as the foundation for effective tax administration.
  • Whether expressed through a taxpayer bill, a charter of rights or a declaration of human rights, governments have long recognized that providing taxpayers with assurances of fair treatment, respect and protection against government overreaching boosts voluntary compliance.
  • The 2019 IBFD Yearbook on Taxpayers Rights contains information on developments concerning the effective protection of taxpayers fundamental rights around the world, as a step towards establishing a block of technically reliable data that can be used to support a constructive dialogue between taxpayers and tax authorities.
  • IBFDs Observatory on the Protection of Taxpayers Rights, established by Prof. Dr Pasquale Pistone and Prof. Dr Philip Baker, is a non-judgemental platform for keeping track of developments in the practical protection of taxpayers rights around the world.

A New Service from Western Tax Alliance Helps Sub-Contractors Get Free from Payroll Tax Debt

Retrieved on: 
Friday, May 29, 2020
Tax, Revenue services, Withholding taxes, Internal Revenue Service, Tax investigation, Taxation in the United States, Payroll tax

LAS VEGAS, May 28, 2020 /PRNewswire-PRWeb/ -- Western Tax Alliance has discovered a way to help sub-contractors get free from payroll tax debt by discovering their tax resolution options.

Key Points: 
  • LAS VEGAS, May 28, 2020 /PRNewswire-PRWeb/ -- Western Tax Alliance has discovered a way to help sub-contractors get free from payroll tax debt by discovering their tax resolution options.
  • This is what Western Tax Alliance calls the "Discover Phase" and it's the first step in resolving tax debt.
  • To order this new service, go to: https://www.westerntaxalliance.com/discover
    The Western Tax Alliance team will help each customer for several weeks to analyze their complete tax liability and financial situation.
  • Each customer will walk away with this custom, step-by-step roadmap to resolve their payroll tax debt case.

Federal Tax Litigation: Coverage of Federal Tax Disputes, Alternative Dispute Resolution Procedures, Grand Jury Matters and More - ResearchAndMarkets.com

Retrieved on: 
Thursday, May 14, 2020
Other Professional Services, Professional services, Legal, Department of Justice, Taxation in the United States, Revenue services

"Federal Tax Litigation" helps to lift the veil of mystery.

Key Points: 
  • "Federal Tax Litigation" helps to lift the veil of mystery.
  • Written by a former litigator for the Tax Division of the Justice Department, this book offers an insider's perspective on both the legal issues and practical considerations involved in handling a federal tax controversy.
  • It presents a comprehensive approach to tax litigation, covering audit, appeal, problems resolution office, collection and subsequent judicial proceedings involving the Justice Department.
  • Whether you are experienced or new to the field, "Federal Tax Litigation" will show you what to expect and help you advise clients in difficult situations.

Free tax clinics go virtual

Retrieved on: 
Tuesday, May 12, 2020
Government of Canada, Revenue services, Taxation in Canada, Canada Revenue Agency, Government, Income tax in the United States, Income tax, Tax

Due to concerns surrounding the COVID-19 pandemic,many community organizations had to close, postpone, or scale back on the free tax clinics they offer.

Key Points: 
  • Due to concerns surrounding the COVID-19 pandemic,many community organizations had to close, postpone, or scale back on the free tax clinics they offer.
  • These free tax clinics, where eligible people can have community volunteers file their taxes, will be offered by local organizations, in partnership with the Canada Revenue Agency's (CRA) Community Volunteer Income Tax Program (CVITP) and the joint CRA and Revenu Qubec Income Tax Assistance Volunteer Program.
  • Iam reassured to see that tax clinics will now be able to provide virtual services to continue supporting vulnerable Canadians.
  • Volunteer tax programs help people with low and modest incomes and a simple tax situation who are looking for support during tax season.

Gulfport Adopts Tax Benefits Preservation Plan to Protect NOL Tax Assets

Retrieved on: 
Thursday, April 30, 2020
Tax, Taxation in the United States, Revenue services, Value-added tax, Employee benefits, Net operating loss, Internal Revenue Service, Tax avoidance

OKLAHOMA CITY, April 30, 2020 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (NASDAQ: GPOR) (Gulfport), today announced that its Board of Directors (the Board) has unanimously adopted a tax benefits preservation plan (the Tax Benefits Preservation Plan) to protect the ability of Gulfport to use its tax net operating losses (NOLs) under Section 382 of the Internal Revenue Code (the Code) to reduce its future tax liabilities.

Key Points: 
  • OKLAHOMA CITY, April 30, 2020 (GLOBE NEWSWIRE) -- Gulfport Energy Corporation (NASDAQ: GPOR) (Gulfport), today announced that its Board of Directors (the Board) has unanimously adopted a tax benefits preservation plan (the Tax Benefits Preservation Plan) to protect the ability of Gulfport to use its tax net operating losses (NOLs) under Section 382 of the Internal Revenue Code (the Code) to reduce its future tax liabilities.
  • The Tax Benefits Preservation Plan is similar to plans adopted by other companies with significant NOLs.
  • The Tax Benefits Preservation Plan will expire on the close of business on April 29, 2021.
  • The Tax Benefits Preservation Plan allows the Board to exempt certain persons and transactions from the provisions of the Tax Benefits Preservation Plan if the Board determines that doing so would not jeopardize the availability of the NOLs.

Honest Tax Announces the Coronavirus Tax Amnesty Program for any Struggling Taxpayer

Retrieved on: 
Monday, March 23, 2020
Tax, Taxation in the United States, Revenue services, Tax administration, Tax amnesty, Tax evasion, Back taxes, Internal Revenue Service

WOODLAND HILLS, Calif., March 23, 2020 /PRNewswire/ -- Honest Tax , America's most honest and straightforward tax mediation company, is very proud to announce the launch of their new Coronavirus Tax Amnesty Program.

Key Points: 
  • WOODLAND HILLS, Calif., March 23, 2020 /PRNewswire/ -- Honest Tax , America's most honest and straightforward tax mediation company, is very proud to announce the launch of their new Coronavirus Tax Amnesty Program.
  • This program enables any taxpayer that owes back taxes and has lost their job due to the Covid-19 Coronavirus pandemic to receive a two year or more reprieve from their IRS Tax obligation.
  • Per IRS guidelines, we can place almost any taxpayer into this program that has lost employment due to this virus," says Mitch Agnew, Vice President of Honest Tax.
  • Founded in 2005, Honest Tax has become one of the most sought after tax resolution companies in the country.

US Expats' Tax Guide for Filing Season 2020 Published by Bambridge Accountants

Retrieved on: 
Friday, March 13, 2020
Taxation in Canada, Tax preparation in the United States, Tax, Tax return, Economy, Revenue services

Many US expatscontinue to use filing software after they leave the United States and often pay tax that is not due.

Key Points: 
  • Many US expatscontinue to use filing software after they leave the United States and often pay tax that is not due.
  • The US Expats' Tax Guide explains in detail what needs to be included in the US tax return for 2020 tax filing season and the credits and exclusions to claim.
  • Alistair Bambridge, partner at Bambridge Accountants, explains:"US expats can struggle with taxes, the law is complex, the US Expats' Tax Guide helps to simply the tax rules and put Americans citizens overseas back in control.
  • "While US expatsstill need to file US tax returns after leaving, the tax guide helps to demystify what forms should be filed and how to stop the US tax.

Regional Income Tax Agency Launches Statewide Digital Taxpayer Notification Initiative

Retrieved on: 
Thursday, January 16, 2020
Data management, Technology, Professional services, Other Consumer, State, Local, Advertising, Communications, Other Professional Services, Public policy, Government, Consumer, Finance, Taxation in the United States, Income tax in the United States, Internal Revenue Service, Revenue services, Tax, Government, Canada Revenue Agency

The Regional Income Tax Agency, commonly known as RITA, is beginning a new initiative to notify taxpayers of the upcoming tax filing deadline.

Key Points: 
  • The Regional Income Tax Agency, commonly known as RITA, is beginning a new initiative to notify taxpayers of the upcoming tax filing deadline.
  • And where traditional direct mail allows for just one communication per taxpayer, this digital initiative will allow for multiple touch points with each taxpayer.
  • This is just one of the many ways were bringing new efficiencies to the taxpayer through digital solutions, Smith added.
  • The digital taxpayer notification campaign began January 15, 2020.

National Taxpayer Advocate Delivers Annual Report to Congress: Focuses on Taxpayer First Act Implementation, Taxpayer Service, and IRS Funding

Retrieved on: 
Wednesday, January 8, 2020
Tax, Taxation in the United States, Nina E. Olson, Office of the Taxpayer Advocate, Revenue services, Internal Revenue Service, Taxpayer

WASHINGTON, Jan. 8, 2020 /PRNewswire/ --Acting National Taxpayer Advocate Bridget Roberts today released her 2019 Annual Report to Congress .

Key Points: 
  • WASHINGTON, Jan. 8, 2020 /PRNewswire/ --Acting National Taxpayer Advocate Bridget Roberts today released her 2019 Annual Report to Congress .
  • Key challenges highlighted in the report include implementation of the Taxpayer First Act, inadequate taxpayer service, and limited funding of the agency.
  • Roberts also noted that long-time National Taxpayer Advocate Nina E. Olson retired five months ago, and a permanent replacement has not yet been appointed.
  • "While I am honored to serve as the Acting National Taxpayer Advocate," Roberts wrote, "the Office of the Taxpayer Advocate and taxpayers deserve a permanent appointee."