QuickBooks W2 and 1099 filing is typically a lengthy, expensive process, especially for users trying to file 1099 forms other than 1099-MISC or wanting to file electronically with the IRS. W2 Mate software intends to change all that. ...more »
A spokesman for the IRS issued a statement late Friday afternoon saying, “there has been a lot of speculation about draconian penalties for coming into compliance. “For this reason, we are looking at putting out information in the near future about how ...more »
The task force includes representatives from a broad range of federal agencies, regulatory authorities, inspectors general and state and local law enforcement who, working together, bring to bear a powerful array of criminal and civil enforcement...more »
I've been reading through many of the discussions here and there's a lot of misinterpretation and misunderstaning about the requirements of compliance and the consequences of not being compliant. Renounciation is of course an option to avoid the ...more »
The IRS also says RTTS will curb tax evasion and improve tax compliance by giving the IRS a tool to screen tax returns for unreported income and/or unqualified tax credits before accepting returns as filed or disbursing tax refunds. ...more »
“ IRS is the federal agency responsible for compliance with tax laws applicable to the issuance of tax-exempt municipal bonds,” said Special Agent in Charge Charles R. Pine of the Internal Revenue Service-Criminal Investigation (IRS-CI) New York Field ...more »
The health reform act charges the IRS with "assessing and collecting" the mandate's penalty. Arguably: The penalty is not a tax because Congress did not arm the IRS with every available tax enforcement tool to collect it. (The IRS' primary enforcement ...more »
Integrated Data Management Systems, Inc. (IDMS), a leading provider of 1099 and W-2 software, today announced the release of its Account Ability Tax Form Preparation Software to help businesses comply with IRS regulation section 6039. ...more »
o From the Persian Gulf, the Bahrain Daily News noted, “A US law…has drawn the criticism of the world's banks and business people, who dismiss it as imperialist and “the neutron bomb of the global financial system.” The unusually broad regulation, ...more »
Nearly 160 million workers will benefit from the extension of the reduced payroll tax rate that has been in effect for 2011, according to the IRS. The Temporary Payroll Tax Cut Continuation Act of 2011 temporarily extends the two percentage point ...more »
Last week, the US Internal Revenue Service (IRS) announced part of the implementation details of the Foreign Account Tax Compliance Act (FATCA). Under FATCA, certain US taxpayers holding financial assets outside the United States must report those ...more »
This service provides a virtual toolkit with all required documents and a step by step process designed to get an employer in compliance with IRS and DOL requirements. The service provides automated compliance updates, archived documents, and now, ...more »
By Bernie Becker - 12/29/11 03:21 PM ET As tax returns increasingly are filed electronically, the IRS needs to keep an eye on whether preparers are following new rules, a new federal audit says. The IRS has so far received more than 79 percent of ...more »
During the 2011 filing season, 90 percent of the 66.9 million individual federal income returns prepared by paid return preparers were e-filed. TIGTA's report was in response to the IRS's new e-file mandate that, grouped with other reforms, ...more »
Starting in 2013, “Americans living abroad are going to find it very hard to maintain assets abroad,” said H. David Rosenbloom, director of the International Tax Program at the New York University School of Law. “There are a lot of repercussions for ...more »
After all, whether your taxes are great or small, even the mechanics of return preparation and compliance can be harrowing. Sure, software and computers make it easier than it used to be. We've embraced E-Filing And IRS Website, and where would Tim ...more »
IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, any US tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the ...more »
