Which form should you use to file your federal income taxes? These days, most people use a computer to prepare and e-file their tax forms. It’s easy, because tax software selects the right form for you. If you file on … read more
Every U.S. person has a lifetime exclusion from federal estate and gift taxes. The 2010 Tax Relief Act created the “deceased spousal unused exclusion amount” (DSUEA). (See separate article describing the DSUEA here.) For a surviving spouse, the DSUEA is … read more
The estate planning landscape radically changed when the Tax Relief Act of 2010 authorized estates of decedents dying after 2010 to elect to transfer any unused exclusion to the surviving spouse and when the act drastically raised the exclusion amount … read more
In case you were not watching the coverage of the 2014 Olympic Games in Sochi, Russia, you may not be aware that The Tonight Show moved back to New York City from the left coast. Or, maybe you have been … read more
Most people are familiar with the various 1099 series forms, such as the 1099-MISC, 1099-B, 1099-INT and the 1099-DIV. In the last two years, however, businesses have been receiving an unfamiliar form: the 1099-K. Fortunately for taxpayers, not much needs … read more
When is 1099 reporting required? Reporting is required when businesses make payments of $600 or more in the course of trade or business in a calendar year to a single payee (exclusions may apply). Generally, payments made for the following … read more
Employers who paid FICA tax on severance pay to employees on a 2010 employment tax return should consider filing a protective refund claim by April 15, 2014, to ensure that they receive a refund of the FICA tax that they … read more
The IRS is singing Michael Jackson’s 1979 hit “Don’t Stop ’til You Get Enough” all the way to U.S. Tax Court as they file documents claiming Michael Jackson’s estate has severely undervalued his image and music catalog on his Federal … read more
It can be so annoying to call anywhere and just want to get some answers, but you need to dial through a number of options, only to be on interminable hold. It turns out the IRS is no different than … read more
There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne, LLP we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.
Before posting a comment on a blog post please be aware that we do not give free tax advice to non-clients by email, comment response, or phone. Thank you!
- Which Tax Form Should You File?
- IRS Allows Extension for Small Estates that Want Portability
- New Estate Planning Dilemma: Portability or a Credit Shelter Trust
- The Tonight Show and Taxes
- Filing Deadline: 2010 FICA Protective Refund Claims for Severance Pay
- Don’t Stop ’til You Get Enough
- Call and Wait is Annoying – You Just Want Answers from the IRS!
- The Affordable Care Act is Giving Back?
- Top 10 Tips about Free Tax Preparation
- A Tip for Restaurant Owners