The IRS Audit Blog

Posts Tagged ‘business’

Question: So what happened to all the jobs that were supposed to be created with the Bush tax cuts?

Why did the IRS have to sue the UBS (Swiss Bank) to release the names of 52,000 tax cheats hiding about $15 billion in US currency in offshore tax havens?

I thought the richest 2% were going to use their massive Bush tax cuts to stimulate the economy and create jobs?

How exactly does hiding the money in an offshore tax haven stimulate the US economy again?

Is there any bigger argument to put the tax rate for the top 2% of wealthiest Americans, back to where it was under Republican President Eisenhower during the 1950′s, which was one of the most prosperous decades for the USA during the 20th century?

http://www.usatoday.com/money/industries/banking/2009-02-19-ubs-tax-evaders-irs_N.htm

http://www.marketwatch.com/story/irs-ubs-agrees-to-hand-over-us-accounts-2009-08-19

Bullseye: The Bush tax cuts are still in effect and unemployment continues to rise.

So it is a legitimate question.
BTW: I’m in the top 10%.

Answer: Money that big business saves by tax cuts is not reinvested in jobs. It’s reinvested in various assets so it can earn more money simply by being invested. Capitalists would prefer not to throw money away on wages. Tax cuts = job creation is a total fallacy

Barry Dolowich: Job moves could be deductible

Q: My husband and I are moving from Denver to Pacific Grove to start jobs working for my parents. The move will probably cost us about $5,000, which will not be reimbursed. Previously, we spent money in our quest for other new job opportunities.

Obama Goes After Overseas Tax Cheats

Question: When filling out an SS-4 form do I need to use my business address or my home address????? Help??

Hello, I was trying to fill out the SS-4 form that has to be filed with the IRS when you need to get the EIN#. I’m just not sure if i need to use my business address or my home address. I do not want my personal credit being tied in with my business credit and others have told me to use my business address what do I need to do??

Answer: You’re filing that on behalf of your business entity. Use the business address.

IRS will expect its share of dollars if Prop. 19 passes

Ryan Gabrielson Should Proposition 19 pass next month, California’s prospective legal marijuana dispensers will have to persevere through much of the same hard work and startup headaches as any other new business. That includes filling out an SS-4 form [PDF] . And making sure their employees have completed W-2s [PDF] . And then actually paying federal taxes, assuming the federal government doesn …

Khari & Erik jerkin.

Question: After filling IRS form SS4 for , existing stockholders decides add one more stock Holder What needs to be don

After filling IRS form for an ‘S’ election on timely basis & after Federal & state’s approval for an ‘S’ status, the existing two eual stockholders, decided to give part of their sahres to a new investor, who becomes a shreholder of an previously approved ‘S’ corporation. What the corporation needs to file with IRS & state of NJ ?

Answer: Read the instructions for the 2553, not the SS-4.

INDORE TRIP-2

Question: How is Child Support Calculated in California?

I am beginning the divorce process. I have a 1 year old and will have the majority of custody. What is included in the child support calculation. I had a consultation with an attorney and she used a program to give me an estimate. She asked for both our monthly incomes before taxes? Does this factor in special need expenses like child care, clothes , living expenses and extracuricular activities. Or is it strictly based on the spouses income?

Answer: Well, you’re a little presumptuous that you will have primry if you’re just beginning. And no, its not strictly based on incomes. If it was, there would be such a high rate of mothers violating the parental rights of Fathers in California. The more you deny him access top the child, the more you get in child support.

Other items, such as what you mentioned are factored in, but not limited to them. Also your cost for shoes, clothing, and hair styling for work is also factored in, as Marcia Clark proved during the OJ Simpson trial, when she got a child support increase to cover those costs. I got a copy of the court orders just before she got a motion to seal the case file approved. So women are allowed to use non child related expenses.

As for custody, hopefully he will get joint physical or bird nest custody, but even if he got primary or sole custody, you’re not likely to be ordered to pay, and get even still demand child support. About 10% of fathers with custody in California are still required to pay child support.
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Ruling cuts in half tax lien imposed for clearing brush

An independent hearing officer has cut in half a nearly $35,000 tax lien placed on a backcountry parcel after county code-enforcement officers had the land cleared against the owner’s wishes.

Mesothelioma Facts Mesothelioma Lawyers in Oakland California

Question: Filing taxes using power of attorney?

do you have to use the PoA from the IRS website or can you use a regular PoA?
Also- if I use the one from the IRS website how do i go about doing that? does it have to be signed notarized and sent back to the IRS for review? Ive read on it but its confusing….
Once I have the check after all this is settled will I be able to just cash the check myself with no problem showing proof of POA?

Answer: The IRS prefers their POA with the added wording that you were given the authority to sign the return. The POA is signed by the taxpayer and then filed with the IRS. Then you attach a copy of the POA to the tax return. If you have a different POA, you *may* be able to attach a copy to the tax return if necessary.

The refund check will still be made out to the taxpayer, sent to the taxpayer and the POA does NOT give you the right to cash it.

Arkansans Urged to Gets Facts before Buying FEMA Traile…

Arkansas Attorney General Dustin McDaniel is warning the state’s consumers about predicted efforts to resell the more than 100,000 FEMA surplus manufactured homes and travel trailers which are being auctioned by lot to brokers and other resellers.

Corporate Tax Attorney, Marilyn Barrett, Launches New Website