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The Internal Revenue Service today announced a delay of approximately one to two weeks to the start of the 2014 filing season to allow adequate time to program and test tax processing systems following the 16-day federal government closure.The IRS is exploring options...
The Financial Awareness Foundation is celebrating the 5th Annual Estate Planning Awareness Week October 21 through 27. According to the Foundation's website, it is estimated that over 120 million Americans do not have an up-to-date estate plan to protect themselves,...
The New Employment Credit (NEC) is available for each taxable year beginning on or after January 1, 2014, and before January 1, 2021, to a qualified taxpayer employer that hires a qualified full-time employee on or after January 1, 2014, and pays or incurs qualified...
Sometimes a client cannot pay their bill. When this happens, some business owners will look to the goods or services provided by the client in her business, to see if a trade can be made to satisfy the debt. While most business owners would rather be paid for services...
It may not initially make sense for an 18 year old to need an estate plan since most do not have assets about which to be concerned. However, in most states, an 18 year old is an adult in the eyes of the law, with legal rights relating to privacy and decision making....
People often assume that an estate plan is only necessary for those with a certain level of net worth. The reality, however, is always everyone needs an estate plan, regardless of the value of the assets. There are so many reasons to establish an estate plan, none of...
People in California may have heard of the National Organization for Marriage (NOM). People may also have heard about people who donate money to the organization because, according to NOM, its list of donors was leaked from within the IRS. NOM says the information...
Despite most lights being out at the IRS, taxpayers can still receive some services at the IRS. Crucial to many tax professionals are the IRS Transcripts of Account. Since it is an automated process, taxpayers can still use automated tools, such as IRS.gov, to request...
Governor Brown signed AB 1173 by Assemblymember Raul Bocanegra (D-Los Angeles) which reduces the excise tax penalty from 20% to 5% for taxable years beginning January 1, 2013, amounts deferred under a nonqualified deferred compensation plan that does not meet the...
The complexity of California income tax laws for non-California businesses is not new. Whenever nonresident businesses have income sourced to California, California will assess income tax in many cases. Public Law (PL) 86-272 still exempts out-of-state businesses from...
