Beware of IRS Penalties at Tax Time! Tax time is a good time for taxpayers to be reminded of some of the penalties that can be assessed by the IRS and State Tax Agencies for failure to comply with set deadlines for the filing of tax returns and the payment of tax amounts due. Since… Continue reading →
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Tax Breaks You Don’t Want to Miss!
Many taxpayers pay income taxes in excess of what they actually owe by failing to take advantage of all of the tax breaks they can legitimately claim. The use of tax deductions to reduce taxable income and tax credits to reduce net tax liability can significantly reduce the total amount of income taxes owed for… Continue reading →
Foreign Banks Take Advantage of Tax Amnesty Offer
Foreign Banks Take Advantage of Tax Amnesty Offer: In its latest attempt to tackle the problem of offshore tax evasion, the United States Department of Justice offered Swiss banks that are not currently under criminal investigation the chance to apply for tax amnesty. Banks that chose to accept the offer were given until December 31st… Continue reading →
Out with the Old……Extended Tax Provisions 2014
Extended Tax Provisions 2014 – It is common knowledge that tax law is constantly changing and it seems that Tax Year 2014 will be no exception. Every year the government makes some changes to the tax code in an attempt to make it fit the current economic climate. These changes include doing away with existing… Continue reading →
Happy New Year 2014!
Wishing you a Happy New Year from Professional Tax Resolution! Wishing You a Happy, Healthy & Prosperous 2014 … Professional Tax Resolution! If you have tax questions or a tax debt you are unable to pay, our tax settlement professionals are happy to discuss your tax resolution options free of charge. For… Continue reading →
End of the Year Tax Planning for Investors
Although tax planning is important for investors year round, it is most important as the calendar year draws to a close. While investment decisions are made throughout the year, they are particularly critical at year end because of the potential tax implications. The United States tax code provides many tax planning opportunities for investors… Continue reading →
