Blogs

Foreign Account Tax Compliance Act (FATCA) was enacted in 2010 to curb tax evasion. Under the law, U.S. citizens living abroad must report their financial assets and income to the IRS if they exceed a certain threshold.Foreign financial institutions must also report to the IRS financial activities that involve U.S. taxpayers. Even if a U.S.... Continue reading →

If you are running a small business, you can take benefits of various tax credits that are available to the owners of small businesses. From the many tax benefits available to you, there are three important tax credits that you can use this season if you qualify for it.Work opportunity credit is a tax credit... Continue reading →

President Obama wants the U.S. to intervene in Syria on humanitarian grounds, but are U.S. taxpayers happy to oblige? It was the end of 2012 when the Obama administration was desperately looking for a way to avoid the fiscal cliff. Now, they want to spend billions in defense of another country. There would be a... Continue reading →

The Foreign Account Tax Compliance Act (FATCA) has been making headlines, for both positive and negative reasons. Under FATCA, the IRS has been making tax agreements with many countries, including Australia, Finland, Germany, Costa Rica, Cayman Islands, Ireland, Mexico, Italy, France, Denmark, Jamaica, New Zealand, Norway, Spain, Canada, and the U.K.FACTA was enacted in 2010... Continue reading →

The resolution of tax debt is not difficult if done with knowledge and experience. To assist taxpayers with the resolution of their back taxes, the IRS has simplified its most common payment plans. By streamlining the application process helps taxpayers pay off their back taxes quicker and easier.Taxpayers who cannot pay the entire amount of... Continue reading →

To understand if the increases in cigarette taxes are good you need to review its impact. A cigarette tax hike is expected to bring decrease smoking, but the increase in cigarette prices can also result in an increase in cigarette smuggling. Reports have shown that a hike in cigarette taxes leads to an increase of... Continue reading →

Instead of recovering from the blows of the Tea Party controversy and their $4.1 million training conference, the IRS has stepped into another mess. The IRS gave tax credits worth $2 billion to paper industry companies in 2010. This has led to suspicions and questions regarding the IRS tax credit review process. There has also... Continue reading →

The IRS seems to have one controversy after another. After the Tea Party controversy, the IRS has now found itself in trouble over tax credits. The IRS passed $2 billion worth of tax credits that benefitted the paper industry.According to a report by The Washington Post, William Henck, an IRS employee who was the legal... Continue reading →

For 2013, the IRS has simplified the tax debt resolution process for the two most commonly used tax debt resolution methods, the Installment Agreement and Offer in Compromise programs. Taxpayers who fulfill the eligibility requirments for these tax relief programs will find it simpler to pay their tax debt.The IRS has also increased the threshold... Continue reading →

Segal, Cohen & Landis, who recently improved its position within Consumer Tax Reviews’ top 10 list, has been presented with the Most Ethical Company Award for 2013 due to the company’s consistent hard work to provide honest tax advice and attainable resolutions for taxpayers.Segal, Cohen & Landis has consistently stayed within the top 5 rated... Continue reading →