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30 May 2018, 1:15 pm by Emily Robertson
New Internal Revenue Code Section 512(a)(7) increases unrelated business taxable income by amounts that an organization pays/incurs for qualified parking benefits for its staff and from providing qualified transportation fringe benefits (like transit passes, for example). b. [read post]
30 May 2018, 9:22 am by Joe
  As previously noted, when taxes remain unpaid long enough, both the Internal Revenue Service (IRS) and the New York State Department of Taxation and Finance will file a lien against a taxpayer. [read post]
30 May 2018, 8:31 am by Gene Takagi
“Tax Cuts and Jobs Act” Tony and I previously discussed the “Tax Cuts and Jobs Act of 2017” as the most significant change to the Internal Revenue Code in over 30 years based on tax reform advocated by congressional Republicans and the Trump administration despite its ill effects on nonprofits. [read post]
30 May 2018, 4:36 am by Matthew L.M. Fletcher
• S.2943: A bill to amend the Internal Revenue Code of 1986 to exempt Indian tribal governments and other tribal entities from the employer health coverage mandate during the time the employer health coverage mandate exists. [read post]
30 May 2018, 2:30 am by Colby Pastre
The definition excludes improvements made to enlarge a building, for an elevator or escalator, or to the internal structural framework of a building.[3] The PATH Act of 2015 created a fourth category, qualified improvement property (QIP), to extend bonus depreciation to additional improvements to building interiors.[4] Under this new definition, unlike the other three types of improvement property, eligibility did not require that QIP investments be made under a lease. [read post]
29 May 2018, 1:54 pm by Native American Rights Fund
S.2943: A bill to amend the Internal Revenue Code of 1986 to exempt Indian tribal governments and other tribal entities from the employer health coverage mandate during the time the employer health coverage mandate exists. [read post]
29 May 2018, 8:51 am by Adam N. Marinelli
Although the Internal Revenue Service has extended the tax filing deadlines for 2017 income tax returns with the Virgin Islands Bureau of Internal Revenue until June 29, 2018 due to Hurricanes Irma and Maria, but it not too early to prepare get ahead on your 2018 tax filing due April 15, 2019. [read post]
29 May 2018, 6:48 am by dbllawyers
Unfortunately, when attempting an estate freeze through an LLC, the members must comply with the complex and exacting provisions in Sections 2701 through 2704 of the Internal Revenue Code. [read post]
The internal audit team also may play a key role, should the plan receive an audit or investigation notice from the Internal Revenue Service (IRS) or the U.S. [read post]
The internal audit team also may play a key role, should the plan receive an audit or investigation notice from the Internal Revenue Service (IRS) or the U.S. [read post]
28 May 2018, 5:01 am by James Edward Maule
The proposed regulations will make clear that the requirements of the Internal Revenue Code, informed by substance-over-form principles, govern the federal income tax treatment of such transfers. [read post]
27 May 2018, 1:00 pm by Suraj Vyas
That's when we enter the realm of international law. [read post]
27 May 2018, 12:06 pm by Alan Pearlman
Estates Exceeding $2 Million For estates that exceed $2 million in assets, the QDOT must provide one of the following: Require that at least one trustee is a U.S. bank Post a surety bond in favor of the Internal Revenue Service (IRS) in an amount equal to 65% of the fair market value of the trust assets Provide a letter of credit from a domestic bank or U.S. branch of a foreign bank, or issued by a foreign bank and confirmed by a domestic bank, in an amount equal to 65% of the fair… [read post]
27 May 2018, 6:41 am
The Notice effectively turned off with respect to banks an aspect of Internal Revenue Code Section 382 that generally restricts the ability of a corporation to use unrecognized tax losses from underperforming loans to offset taxable income from other sources if that corporation undergoes a significant change in equity ownership, including an acquisition. [read post]
26 May 2018, 12:45 pm by Gene Takagi
Written Consent Requirement A crowdfunding solicitor for charitable purposes (“Crowdfunding Solicitor”) must obtain the written consent of a charitable organization prior to using its name in a solicitation unless all of the following 8 requirements are met:  the crowdfunding solicitor for charitable purposes provides only a database or list of charitable organizations that may receive contributions; the solicitation only lists the charitable organization’s name and other… [read post]
25 May 2018, 8:01 pm by lennyesq
 Security Summit: Scammers Pose as Tax Pro Associations The IRS and its state and industry Security Summit partners alert tax practitioners to a new phishing scheme in which cyber criminals pose as state accounting and tax professional associations. [read post]
25 May 2018, 2:57 pm by assoulineberlowe
 While the audits do not include independent contractors, classifying workers as contractors when they should properly be classified as employees may expose employers to headaches beyond ICE: namely the Department of Labor and the Internal Revenue Service. [read post]
25 May 2018, 2:00 pm by Gerry W. Beyer
Chapter 13 of the Internal Revenue Code specifically deals with the generation-skipping transfer (GST) tax, the tax which deals with transfers to individuals more than one generation below the donor. [read post]
25 May 2018, 7:03 am by Michael Geist
The most obvious example are Canada’s digital lock rules, which exceed the requirements at international law in the WIPO Internet treaties. [read post]
24 May 2018, 9:53 am by Kelly Phillips Erb
The Internal Revenue Service (IRS) and its state and industry Security Summit partners are warning tax professionals about a new scam involving phishing emails posing as accounting and professional associations. [read post]