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TAXES Archive

Senate Finance Committee Tax Gap Hearing Today

TweetShareSharePin0 Shares 0 Flares Filament.io Made with Flare More Info“> 0 Flares × Last month Commissioner Rettig testified before the Senate Finance Committee, and he stated that the tax gap could be approaching $1 trillion annually. That got a lot of attention, especially as the IRS’s own official

Policing the Settlement; Policing the Case

TweetShareSharePin0 Shares The Tax Court Needlessly Expends Considerable Judicial Resources Each Month Incorrectly Policing the Filing Deadline as a Jurisdictional Issue. Many taxpayers might be affected by a ruling that the Tax Court’s deficiency jurisdiction filing deadline is not jurisdictional (whether or not the filing deadline is also subject to equitable tolling). In the fiscal

Your Well Being And Taxes

TweetShareSharePin0 SharesYour Well Being And Taxes Few things threaten your well-being like the harassment and anxiety of persistent tax problems. Most people make 3 mistakes that get them in trouble with the IRS. They procrastinate. They attempt to represent themselves. They hire sub-par representation and now are in MORE need of help than ever before.

2022 HSA, excepted-benefit HRA amounts increase slightly

TweetShareSharePin0 Shares In Rev. Proc. 2021-25, the IRS on Monday provided 2022 inflation-adjusted amounts pertaining to health savings accounts (HSAs) and the maximum amount that may be made newly available for certain health reimbursement arrangements (HRAs). HSA amounts The annual limitation on deductions under Sec. 223(b)(2)(A) for an HSA with self-only coverage is $3,650, an

Are FBAR Penalties Taxes for Purposes of the Flora Rule?

TweetShareSharePin0 SharesIn Norman, the Federal Circuit held that a currently obsolete Treasury Regulation did not cap FBAR fines for unyielding offenses at $100,000. Regulation 7(b)( 1) Mot. Mr. Mendu keeps in mind that, due to the fact that this Court does not have independent territory over the Defendant’s counterclaim for $752,920, this Court has to

What to Do If You Can’t Pay Your Taxes

TweetShareSharePin0 SharesWhat to Do If You Can’t Pay Your Taxes The end of tax filing extensions is quickly approaching. What do you do if you can’t pay the amounts you owe? You should still file your return by the due date and pay as much as you can. There are, however, additional steps that might

BVI Rules Out New Taxes In 2021 Budget

TweetShareSharePin0 Shares . . .” Legislation to promote elements of e-Government that will certainly add to effectiveness as well as generation of revenue was tabled in the House of Assembly for initial analysis previously in the year. . .” Two advantages of presenting contemporary computer system innovation is that it will certainly aid to catch resources
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