TaxConnections


 

Is Form 8938 Required By “Green Card Holders” Who Are Nonresidents By “Treaty Tie Breaker”?

John Ricahrdson

The context: Form 8938 was created by the IRS to meet the reporting requirements mandated by Internal Revenue Code S. 6038D. S. 6038D was mandated by S. 511 of the HIRE Act.

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Charitable Contribution Incentives In PATH Act

John Stancil

The Protecting Americans from Tax Hikes Act (PATH) contains a number of tax provisions that are designed to reduce the amount of taxes paid by United States taxpayers. This act was signed by the President in December 2015. The provisions in the act are not new incentives, but made existing incentives permanent. This can be seen as somewhat significant as there is sentiment in Congress and elsewhere to reduce the tax benefit from charitable contributions. I would add that “permanent” in tax lingo means the provisions do not expire, but may be changed at any time by Congress.

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October 24-25 Seminar – CPA Practice Growth And Freedom – Philadelphia, PA

Salim Omar

Salim Omar’s goal with the “CPA Practice Growth and Freedom” Intensive is to SHOW YOU (side-by-side in the trenches) how to create a CPA Firm that allows you to dramatically increase the income you earn, to work when and how you want, that gets you quality clients you love working with… and that enables you to live a life of massive personal freedom.

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TaxConnections Worldwide Tax Blogs Honors Ronald Marini

Kat Jennings

Every week, until the end of the year, we will be celebrating one of our top writers on TaxConnections.

This week we are honoring Ronald Marini.

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What Happens When Your Business Loses Money?

MileIQ

Unfortunately, businesses don’t always earn a profit. This is especially true as you’re just starting your business or if economic conditions are bad. Let’s walk through what to do if your business loses money, as well as how you may get tax relief from it.

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Time to Compare Candidate’s Tax Plans Again!

Ron Marini

On July 19, 2016, we previously posted Time to Compare Candidate’s Tax Plans! where we discussed both the Clinton Tax Plan and the Trump Tax Plan. Now with the first debate, we thought it would be a good time to revisit their tax positions.

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Tax Job – Northern California

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Looking for a tax job? Do you live in the vicinity of the Bay Area? Are you looking for a change of scenery?

Below are some job listings for tax professionals to work in the Bay Area region of Northern California. If you are interested, send your resume and cover letter to kat@taxconnections.com with the position you are interested in the subject line.

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Tax Accounting & Auditing Networking Seminar – Oct 17-18 New York

Kat Jennings

This seminar will guide you to recognize the amount of taxes payable or refundable for the current year and the deferred tax assets and liabilities relating to the future tax consequences of events that have been recognized in a company’s financial statements or tax returns. This basic level seminar is for corporate accounting, tax and finance executives, tax specialists and Certified Public Accountants. There is no prerequisites or advance preparation for this group-live seminar.

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New Tax Filing Security Protocols

Annette Nellen

New Security Step – IR-2016-124 (9/22/16) – The IRS alerted people filing an extended return electronically for 2015 (due 10/17/16), that they likely would be asked to enter their AGI (Adjusted Gross Income) for 2014. The purpose is to help properly identify the taxpayer. The information release reminds people how to order a tax transcript from the IRS should they not have it.

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Did You Know That President Obama Could Obtain Donald Trump’s Tax Returns?

Ron Marini

In this presidential election, the Republican candidate Donald Trump steadfastly refuses to release his tax returns. This has caused political blogs to have a lively discussion regarding whether President Obama could request Donald Trump’s tax returns from the Internal Revenue Service (IRS)?

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Overlooked Tax Considerations For Small Business

MileIQ

If you own your own business, your tax obligations likely do not end with the IRS. There are other tax agencies looking to put the bite on you as well. Small business owners can cut their taxes by taking various tax deductions. Be sure you don’t pay more taxes than you need to by being aware of the overlooked tax considerations for small business.

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Scheme To Defraud Taxpayers On Obama Care Payments

Harold Goedde

The IRS Practice and Procedure group is confronting the latest scheme to target taxpayers. The IRS and its Security Summit partners warned Thursday that scammers have sent fake emails purportedly containing CP2000 notices, which are used in the IRS’s Automated Underreporter Program.

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