| 
The new Incoterms 2010 replace and update a number of various features of Incoterms 2000. The new rules took effect on January 1, 2011. The following is a very brief description of some of the most prominent changes. 1. Reduced Number of Incoterms The number of Incoterms rules has been reduced from 13 to 11. […]
On October 3, 2011, the Minnesota Department of Revenue announced the launch of its new e-Services online system. This new system is replacing e-File Minnesota and will offer a wider variety of services to 400,000 business taxpayers. The new system was the product of at least four years of diligent work by the Department. The […]
On October 6, 2011, The Internal Revenue Service announced that it is issuing proposed regulations that would require paid tax return preparers, beginning in 2012, to file a due diligence checklist, Form 8867, with any federal return claiming the Earned Income Tax Credit (EITC). It is the same form that is currently required to be […]
October 17, 2011 is the deadline for most of those individual taxpayers who filed Form 4868 to request a six-month extension on filing of their tax returns. Traditionally, October 15 would have been the deadline, but it falls on Saturday this year. Therefore, the IRS extended the deadline until October 17, 2011. Note that this […]
Do you own 10% or more of the shares in a foreign corporation? Then you may be required to file IRS Form 5471 (“Information Return of U.S. Persons With Respect to Certain Foreign Corporations”). IRS Form 5471 Form 5471 is a required informational return for certain categories of filers (there are four different categories of […]