by Renu Vardhan | Dec 17, 2014 | Tax Administration, Tax Changes, Tax Credits and Deductions
Senate approves the bill, which extends the a number of tax breaks that were to expire in 2013 through 2014, The bill passed the Senate 76 to 16. To know the details of the tax extenders, visit...
by Renu Vardhan | Sep 28, 2010 | Tax Administration
All compensated tax return preparers are required to register under the new registration system and get a PTIN before preparing returns in 2011. Individuals who currently possess a PTIN will need to reapply under the new system but generally will be reassigned the...
by Renu Vardhan | Aug 9, 2010 | Late Filing Penalty Relief, Tax Administration, Tax Changes, Tax Due Dates, Tax Penalties
Time is running out and the tax returns for S Corporation are due soon. The final deadline to file S Corp tax returns (Form 1120S) is September 15th, 2010 if an extension was requested.S Corporation’s no longer enjoy the luxury to file late and not pay the...
by Renu Vardhan | Aug 3, 2010 | Efile, Homebuyer Credit, t, Tax Administration, Tax Credits and Deductions
If you forgot to include some income or to take a deduction or to claim a credit(including the first time homebuyer or repeat homebuyer credit) on your tax return – you can correct it by amending your tax return. Generally, to claim a refund, you must file Form 1040X...
by Renu Vardhan | Jul 27, 2010 | Non Profits, Tax Administration, Voluntary Disclosure
Small nonprofit organizations at risk of losing their tax-exempt status because they failed to file required returns for 2007, 2008 and 2009 can preserve their status by filing returns by Oct. 15, 2010, under a one-time relief program.The relief announced is not...
by Renu Vardhan | Oct 31, 2009 | Tax Administration
The Information Reporting Program Advisory Committee (IRPAC) released the advisory group’s 2009 recommendations on a wide range of tax administration issues.Key recommendation were -Creating a new form and modified rules on information reporting of payments made in...
