Mortgage Debt Forgiveness: Key Points
Under the current U.S. tax law, canceled debt is normally taxable to you, but there are exceptions. One of those exceptions is came into [...]
Second Quarter of 2012 Underpayment and Overpayment Interest Rates
On February 23, 2012, the IRS announced that the underpayment and overpayment interest rates will remain the same for the calendar quarter beginning April [...]
Payroll Tax Cut Extended to the End of 2012 and Revised Form 941
On February 23, 2012, the Internal Revenue Service released revised Form 941 enabling employers to properly report the newly-extended payroll tax cut benefiting nearly 160 [...]
Form W-2 Penalties
A W-2 is required to be filed by every employer who is engaged in a trade or business paying remuneration (including noncash payments) of [...]
IRS Classification of Foreign Entities: “Per Se” Foreign Corporations
For the U.S. tax compliance purposes, it is very important to properly classify foreign business entities, because there are special IRS requirements associated with [...]