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Manasa NadigTax Professional Level: Tax Enthusiast
Sonja, Which article of the US-German Tax Treaty are you referencing? Here is a link to the technical explanation of the treaty on the Internal Revenue Website: https://www.irs.gov/pub/irs-trty/germtech.pdf Read More
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Peter J. ScaliseTax Professional Level: Master Tax Advisor
Introduction The American Institute of Certified Public Accountants (hereinafter “AICPA”) has requested the Department of the Treasury and the Internal Revenue Service (hereinafter the “Service”) to issue... Read More
John StancilTax Professional Level: Master Tax Advisor
There is no hard-and-fast rule. Generally, it is preferable to prepare the statement by taxpayer. Thus in a family unit, a statement woud be issued to husband and wife. If any of their children give, a separate... Read More
John StancilTax Professional Level: Master Tax Advisor
No. You cannot put a dependent's income and expenses on your return. He or she would have to file their own return, not claiming their dependency exemption. If you could, you wouldn't want to do it since you're... Read More
John StancilTax Professional Level: Master Tax Advisor
There are no tax implications of investing in a company. The amount of your investment is your basis for gain or loss when the investment is sold. In the event of a merger, buy out, or conversion of the investment... Read More
Peter J. ScaliseTax Professional Level: Master Tax Advisor
The Internal Revenue Service (hereinafter the “Service”) recently issued IRS Notice 2017-6 in connection to Tangible Property Regulations Compliance (hereinafter “TPR Compliance” or “Regulations”) that... Read More
John StancilTax Professional Level: Master Tax Advisor
You should \complete Form 8965 to determine if you have any exemptions, including not being affordable. If you claim an exemption that yo do not qualify for, you could be subject to penalties for filing an... Read More
Chad HatallaTax Professional Level: Tax Enthusiast
First, let me preface my answer with that I understand the general requirements, but do not prepare Canadian income tax returns. Also, I am assuming that the property was not a resource or timber resources use... Read More
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