TAXES Archive
CCA Distinguishes Between Continuous Levies on Wages and Levies on Social Security Income
August 13, 2021
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TweetShareSharePin0 Shares A relatively brief IRS CCA briefly highlights some confusion concerning the effect of a continuous levy on wages on the ten-year statute of limitations on collections. That there is some confusion on the topic is not surprising. For example we have previously discussed problems the IRS has struggled to properly compute the SOL;
taxes
August 13, 2021
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TweetShareSharePin0 Shares Posted by nafdigitalassets on 2008-07-18 19:37:14 Tagged: , AOF: , Taxes TweetShareSharePin0 Shares
Automatic accounting method change procedures updated
August 12, 2021
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TweetShareSharePin0 Shares The IRS on Thursday updated the list of accounting method changes to which automatic change procedures apply (Rev. Proc. 2021-34). Generally, unless otherwise provided, a taxpayer must secure the IRS’s consent before changing its accounting method. To obtain the IRS’s consent, taxpayers file Form 3115, Application for Change in Accounting Method. Even when
Designation of Payment in Payroll Tax Cases
August 12, 2021
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TweetShareSharePin0 Shares We have not written about designation of payment in a long time. Early in the life of the blog we had two posts on the topic which you can find here and here. Designation of payment for any type of tax could have important consequences for the taxpayer and save lots of money.
taxes
August 12, 2021
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TweetShareSharePin0 Shares Posted by kalleboo on 2008-01-26 17:50:34 Tagged: , sweden , swedish , taxes TweetShareSharePin0 Shares
Gas Taxes in Europe
August 12, 2021
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TweetShareSharePin0 Shares To facilitate and foster cross-border trade and to prevent significant competitive distortions, the European Union requires EU countries to levy a minimum excise duty of €0.36 per liter (US $1.55 per gallon) on gas. As today’s map shows, only Bulgaria and Hungary stick to the minimum rate, while all other EU countries opt
Certification deadline extended for work opportunity tax credit
August 11, 2021
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TweetShareSharePin0 Shares The IRS issued Notice 2021-43 Tuesday providing transition relief for the deadline by which employers must request certification of employees as members of the designated community resident or qualified summer youth employee targeted groups for purposes of the work opportunity tax credit (WOTC). Under the transition relief, certain employers have until Nov. 8,
taxes
August 11, 2021
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TweetShareSharePin0 Shares IDK Posted by mt•MT•Mt on 2009-02-18 22:26:30 Tagged: , tax , taxes , terminal TweetShareSharePin0 Shares
New safe harbor for ERC gross receipts calculation
August 11, 2021
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TweetShareSharePin0 Shares The IRS on Tuesday issued a safe harbor that allows an employer to exclude certain amounts received from other coronavirus economic relief programs in determining whether it qualifies for the employee retention credit (ERC) based on a decline in gross receipts (Rev. Proc. 2021-33). The amounts that can be excluded in calculated gross
Buying Property from the IRS
August 11, 2021
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TweetShareSharePin0 Shares A short Chief Counsel Advisory opinion provides a cautionary tale for those purchasing property from the IRS. CCA 2021021011190596 explains that if the buyer at an IRS sale does not follow through and make all of the payments necessary to complete the purchase, the IRS can declare the sale null and void. When
