31. August 2011 by admin.

Posted in Payroll Tax, Newsletter Topics, International Taxation, Sub S Corporations, Income Tax, LLC's, General | 1 Comment »

19. August 2011 by admin.

Background: “Enrolled” means EAs are licensed by the federal government, while “Agent” allows appearance in place of the taxpayer before the Internal Revenue Service (IRS).

Only EAs, attorneys and CPAs may represent taxpayers before the IRS. The EA profession started in 1884 when, after questionable claims had been presented for Civil War losses, Congress acted to regulate persons who represented citizens with the Treasury Department.

EAs were created by legislation signed into law by President Chester A. Arthur to handle these claims. At the time, some individuals with legitimate claims were cheated by their representatives in Washington while on other occasions; the government was being defrauded by false claims. EAs were the trusted individuals to represent petitioners in the US Court of Claims. Eventually their work expanded to focus on tax practice.

Professional Competency. The EA designation is awarded to individuals who successfully demonstrate expertise in the field of taxation by passing a tough enrollment test. EAs account for less than 10% of all individuals currently practicing in the field of taxation.

Continuing Education. EA is the only professional credential issued at the Federal level in taxation and requires considerable continuing professional education yearly.

Posted in Payroll Tax, Newsletter Topics, Retirement Accounts, International Taxation, Sub S Corporations, Income Tax, LLC's, General | 1 Comment »

26. July 2011 by admin.

IRC § 61 states all income from whatever source derived is taxable, unless specifically excluded by another Code section.

IRC stands for Internal Revenue Code.  If you ever tried to read it, you’ll know why they call it code!   § is the symbol for Code section.

Posted in International Taxation, Retirement Accounts, Sub S Corporations, LLC's, Income Tax, General | 1 Comment »

25. July 2011 by admin.

• Alaska
• Florida
• Nevada
• South Dakota
• Texas
• Washington
• Wyoming

Tennessee and New Hampshire tax only dividend & interest income.

Posted in Retirement Accounts, International Taxation, Income Tax, General | 1 Comment »

1. July 2011 by admin.

Posted in International Taxation, Sub S Corporations, LLC's, Income Tax, General | 1 Comment »

28. June 2011 by admin.

We have had a scrolling notice on our main website www.USATaxHelp.com for well over a year about this issue.  Here is the latest posting on the State of Florida website……..

CONSUMER ALERT!   Arvitas, LLC is a private company sending e-mails to businesses in Florida offering to file annual reports.   ARVITAS IS NOT AN AGENT OR REPRESENTATIVE FOR THE FLORIDA DEPT. OF STATE, DIVISION OF CORPORATIONS.   Arvitas is acting on its own to solicit business for its own company.   It is offering to file annual reports for business entities in Florida at an inflated fee.   They do not offer any additional service than what is available to the public on sunbiz.org.   The Attorney General´s Office, on behalf of the Dept. of State, is currently pursuing legal action against Arvitas.  

Posted in International Taxation, Sub S Corporations, LLC's, Income Tax, General | 1 Comment »

11. May 2011 by admin.

The IRS does not send taxpayers unsolicited e-mails about their tax accounts, tax situations, or personal tax issues.If you receive such an e-mail, it’s a scam.

Posted in Payroll Tax, Ask Question or Comment, Retirement Accounts, International Taxation, Sub S Corporations, Income Tax, LLC's, General | 1 Comment »

18. March 2011 by admin.

IRPAC (Information Reporting Program Advisory Committee) was established in 1991 as a result of an administrative recommendation contained in the final conference report for the Omnibus Budget Reconciliation Act of 1989.  The recommendation suggested that the IRS consider “the creation of an advisory group of representatives from the payer community and practitioners interested in the Information Reporting Program (IRP) to discuss improvements to the system.”

Posted in Payroll Tax, Newsletter Topics, Retirement Accounts, International Taxation, Sub S Corporations, Income Tax, LLC's, General | 1 Comment »

29. January 2011 by admin.

Wednesday, January 26, 2011

IRS Names 10 New Members to IRPAC

The Internal Revenue Service today announced the selection of 10 new members in 2011 for the Information Reporting Program Advisory Committee (IRPAC).

“Members of IRPAC provide industry perspective and recommendations that assist the IRS in making decisions about third-party information reporting, which is important to sound tax administration,” said IRS Commissioner Doug Shulman.

The new appointees will join 14 returning members who are in the second or third year of their three-year terms.

The following people have been appointed to serve on the committee:

Susan R. Boltacz, JD, CPA of Atlanta, Ga. Boltacz is a Group Vice President, Tax Counsel and Director of Tax Information Reporting at Sun Trust Bank. She has been advising on tax information reporting issues and implementing tax information reporting requirements for financial services and telecommunications industries for over 21 years. She is a member of the Tax Section of the American Bar Association.

Duncan W. Brennan, of Washington, D.C. Brennan is Manager of the Legal Support Group at Burt, Staples & Maner, LLP. He is experienced working with domestic and nonresident withholding and information reporting and holds a Masters of Public Policy Degree.

Julia K. Chang, CPA, of Pacific Palisades, Calif. Chang has worked in the accounting field for over 30 years, specializing in taxation. She is a member of AICPA and the California Society of CPAs.

Terrance C. Coppinger, CPA, of New York. Coppinger is a Director at Deloitte Tax, LLP. He has been advising clients on tax information reporting for more than 15 years. He is a member of the Tax Section and the Personal Financial Specialist Section of the AICPA, and the IRS Relations Committee of the New York State Society of CPAs.

Rebecca M. Harshberger, a Certified Payroll Professional of Burbank, Calif. Harshberger is Director, Payroll Tax Administration at GEP, Administrative Services, Inc. She has over 10 years experience in tax information reporting. She is on the Board of directors of the Los Angeles Chapter of the American Payroll Association and is a member of APA.

Anne W. Jetmundsen, CPA, of Tampa, Fla. Jetmundsen is a Tax Advisor to the University of South Florida. She advises the University on payroll, purchasing and accounts payable and information reporting obligations. She is Chair of the Taxation Subcommittee of the Inter-institutional Committee on Finance and Accounting (ICOFA) and a member of the Tax Council of the National Association of College and University Business Officers (NACUBO).

Tony Y. Lam, JD, CPA, of Owings Mills, Md. Lam is an Associate Tax Counsel at T. Rowe Price Associates, Inc. He addresses the legal requirements of tax information reporting and withholding for millions of investor accounts and retirement plan participant accounts both domestic and foreign. He is a member of the Investment Company Institute’s Tax Committee.

Michael M. Lloyd, JD, CPA of Washington, D.C. Lloyd is a Member/Counsel/Senior Associate of Miller & Chevalier Chartered. He advises clients in the areas of tax and employee benefits with a focus on cross-border payment reporting and withholding, domestic information reporting, employment tax reporting, fringe benefits, executive compensation and penalty abatement. He is a member of the AICPA and the Section of Taxation of the American Bar Association.

Jeffrey N. Mason, JD, of Salem, N.C. Mason is Tax Counsel, Corporate Tax Department at Wells Fargo & Company. He has 10 years experience ensuring compliance with information reporting requirements in the banking industry. He is a member of the SIFMA Tax Compliance Committee.

Lonnie Young, CPA, of Lake Mary, Fla. Young is owner of Young & Company, LLC. His firm prepares corporate, partnership, trust and individual returns as well as payroll information returns. He is a member of the AICPA and the National Society of Accountants.

The IRPAC was established in 1991 and focuses on information reporting issues. The committee’s purpose is to provide an organized public forum for discussion of relevant tax administration issues between IRS officials and representatives of the public.

Posted in Payroll Tax, Newsletter Topics, Retirement Accounts, International Taxation, Sub S Corporations, Income Tax, LLC's, General | 2 Comments »

8. January 2011 by admin.

For well over a year we have had a scrolling alert on our main website www.USATaxHelp.com about this issue…. here is State of Florida’s latest web post…..

CONSUMER ALERT!   Arvitas, LLC is a private company sending e-mails to businesses in Florida offering to file annual reports.   ARVITAS IS NOT AN AGENT OR REPRESENTATIVE FOR THE FLORIDA DEPT. OF STATE, DIVISION OF CORPORATIONS.   Arvitas is acting on its own to solicit business for its own company.   It is offering to file annual reports for business entities in Florida at an inflated fee.   They do not offer any additional service than what is available to the public on sunbiz.org.   The Attorney General´s Office, on behalf of the Dept. of State, is currently pursuing legal action against Arvitas.  

Posted in International Taxation, Payroll Tax, Sub S Corporations, LLC's, Income Tax, General | 2 Comments »