Before continuing from where I left off, let me recap what I shared in my previous article. To reduce your tax liability next year, you should:
1. Pay no more than you should
2. Max out your 401s
3. Sell off loss making shares
More on How to Reduce your Taxes Next Year (part 2)
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How to Reduce your Taxes Next Year (part 1)
If you have not already done your tax planning for next year, now is the time to start. A little forward planning could save you substantial tax dollars come tax season next year. Here are some suggestions:
More on How to Reduce Your Taxes Next Year (part 1)
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Good news for the one million or so US citizens who reside and work in Canada. The IRS will waive any penalty against you if you file your taxes in the US and it shows that you do not have any tax liabilities. The new ruling will be officially announced in a few weeks’ time, according to David Jacobson, the US Ambassador to Canada. In a recent interview, Jacobson said, “What the IRS is saying here is that if … you don’t owe taxes to the US, and you file your return and they show you don’t owe taxes, there aren’t going to be any penalties for having filed late.”
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The Miccosukee Indian tribe has severed their longtime business relationship with their former lawyer, Dexter Lehtinen and has filed a lawsuit against him for malpractice. The tribe members allege that Lehtinen gave them wrong legal advice on tax issues regarding their gambling profits that has now landed them in trouble with the IRS.
More on Miccosukee Indians Sue Own Former Counsel over Tax Advice
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Seattle IRS infested with Bed Bugs?
Could the IRS office in Seattle, Washington be infested with bed bugs? That’s the question being asked as investigations get underway after an IRS employee complained about getting bitten at work.
The Occupational Safety and Health Administration (OSHA) confirmed receiving complaints from an IRS employee that she was bitten by bed bugs while on two floors of the Henry M. Jackson federal building on Second Avenue that houses the IRS office.
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