25 Years Of Positive Results
In the United States, employers are required to withhold taxes from their employee's paychecks. The withholding amount is automatically deducted by the employer from each paycheck and is determined by an employee's wages and marital and family status. However, many...
A freshly enacted Washington, D.C. Act A23-0564 will modify the District of Columbia's False Claims Act. The amendment will allow qui tam actions for violations of the tax laws in the district. While the District had previously left the enforcement of its tax laws to...
On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to include DOJ partnership “with agencies across government to enhance efforts to combat and prevent pandemic-related fraud.” The focus is on the investigation and eventual...
How Much Can Taxpayers Rely on IRS? Acting IRS Chief Counsel William M. Paul said at the NYU conference recently, "IRS is comfortable with the view that if a taxpayer relies in good faith on an FAQ and that reliance is reasonable under all the facts and circumstances,...
Everyone who has ever run a small business knows that it is a risky proposition, but the risk should be to the business, not to the individuals involved. To that end, one of the most important things to consider when forming a business is how to shield the owners from...
The IRS is resuming certain collection and enforcement processes that were suspended since April 2020 due to the coronavirus pandemic. On June 15, 2021, the IRS began following up with taxpayers who have failed to respond to prior balance due notices. Balance due...
Form 5471 Substantial Compliance Penalties Failure to file information required by section 6038(a) (Form 5471 and Schedule M) Failing to timely and accurately file Form 5471 may result in civil and criminal penalties, a reduction to foreign tax credit and the...
Creating and maintaining a happy marriage is complicated. But, divorce is also complicated, and one thing that some do not think about is the tax implications of a divorce. These should be discussed as part of the divorce. General tax implications Of course, tax...
Employers to Defer WH Tax DEPOSITS(Notice 2020-65, 2020-38 IRB 1). Employees who earned less than $4,000 in wages every two weeks between 9/1/20 and 12/31/20 are able to use this deferral. With this deferral, the employer is required to pay all applicable taxes...
For years, ENERGY STAR appliances have been a worthwhile investment for homeowners. Many Maryland residents have wanted to invest in new appliances that not only work better, but also run more efficiently. These unique appliances are designed to use less energy while...
