tax Archive

Will the Commissioner agree that a filing extension is necessary so that all eligible children can claim the enhanced Child Tax Credit?

TweetShareSharePin0 Shares We welcome guest bloggers Luz Arevalo and Angela Divaris from Greater Boston Legal Services. GBLS is part of a coalition of nonprofit organizations who seek to maximize access to the expanded child tax credit for 2021. Angela and Luz highlight the problem of otherwise-eligible CTC claimants without a US taxpayer identification number who

State and Local Sales Tax Rates, Midyear 2022

TweetShareSharePin0 Shares Key Findings Forty-five states and the District of Columbia collect statewide sales taxes. Local sales taxes are collected in 38 states. In some cases, they can rival or even exceed state rates. The five states with the highest average combined state and local sales tax rates are Louisiana (9.55 percent), Tennessee (9.547 percent),

Biden OECD Tax Proposals Would Hurt FDI

TweetShareSharePin0 Shares The Biden administration has proposed several changes to the U.S. international tax system that would raise taxes on multinational enterprises (MNEs). Similarly, the OECD’s tax proposals would raise taxes on MNEs. Together, the proposals would affect patterns of international investment and potentially decrease the volume of foreign direct investment (FDI). Under the tax

Top 5 Tax Questions In the United States Answered

TweetShareSharePin0 Shares Tax law is complicated, at best, and an impossible puzzle that can’t be cracked at worst. Even if you have a relatively solid understanding of how to file your federal tax return in the United States each year, you might find yourself with questions from time to time.  That’s where this guide comes

Pandemic-paused IRS return preparer visits could resume by video

TweetShareSharePin0 Shares The U.S. Government Accountability Office (GAO) recommended in a report Thursday, and the IRS agreed, that the Service should test the feasibility of holding videoconference visits with tax return preparers it flags as posing a high risk for submitting erroneous refundable credit claims, to replace in-person visits the Service has suspended since 2020.

Filing a Notice of Federal Tax Lien For Personal Property

TweetShareSharePin0 Shares Today PT contributor Bob Probasco brings us a recent case that demonstrates the value of verifying that the IRS followed proper procedures in filing a Notice of Federal Tax Lien. A recent decision by a bankruptcy court, In re: Vanessa Catherine Stephenson, (docket no. 21-22684 in the Western District of Tennessee), is a

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