Your Guide to State, Local, Federal, Estate + International Taxation

International tax reporting in a nutshell

HAHA! Got you! There is no way to fit international tax reporting requirements in a nutshell or even fit it into one blog. I can, however, give you a brief run down on who must file what forms. (This list does not represent all forms for international reporting.) Let’s start with the basics. (I use …

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Why do you need my driver’s license for my tax return?

You probably asked this question when you met with your tax return preparer this year. How could your tax return and your driver’s license possibly be connected? Well, several states have added a request or a requirement for a driver’s license number (or other state identification number) to be entered into the tax software system …

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AZ minimum wage law, DOL overtime rules update

After several months of waiting, Arizona business owners finally have their answer on whether Prop. 206, which raises the minimum wage, will stand; meanwhile, we’re also closer to knowing what will happen with the new overtime rules that were delayed late last year. AZ minimum wage law Arizona’s minimum wage law will stand after the …

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CP40 Notice: IRS sending overdue tax accounts to collections

Taxpayers hate to receive IRS letters and the new CP40 notice will be no different! The IRS will soon be sending these to notify taxpayers that their overdue tax accounts have been assigned to a private collection agency. Posted on the IRS website is an example of a IRS CP40 notice. Congress authorized the IRS at the …

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Identity theft: how to stay ahead of fraud

Identity theft has become a huge issue in recent years. These thieves are taking your personal information and filing phony tax returns to try to make some quick cash. In order to fight against cybercriminals the IRS has launched a public campaign called “Taxes. Security, Together.” The IRS is doing everything they can to detect …

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Don’t let the IRS make you afraid of the boogeyman

You’ve seen the commercials and heard the advertisements. How the IRS is going to take away your home, your business, your life savings. Garnish your wages and seize your bank account. Everything you’ve worked for gone in an instant. The scary boogeyman that you should be very afraid of if you ever slip up and …

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Angst, tax preparer style

So, I have had a fairly productive week, as far as life goes in the tax return preparation business. I have checked some accounting and moved along those tasks to tax return preparation, I have checked some returns, I have answered questions on a couple of tax returns, I have conferred with associates on a …

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Slow start to filing 2016 tax returns

The Internal Revenue Service, as well as some state tax agencies, are reporting a sharp decline in filings of 2016 tax returns compared to the same time period last year. The IRS has reported that for the week ending February 3rd, the number of tax returns received was down 24.3% compared to last year. This …

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W-2 verification: help the IRS fight fraud

In its continuing effort to fight tax refund fraud, the IRS is asking taxpayers and tax preparers to assist by using the new 16-digit W-2 verification code. If your 2017 Form W-2 includes a 16-digit verification code, IRS encourages you to enter it when prompted if using software to prepare your return. In addition, the …

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