Blog Posts in July, 2010

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  • Number of Asset Seizures by IRS Declines
    Number of Asset Seizures by IRS Declines

    Did you know the IRS has its own CID (Criminal Investigation Department)? Among its various responsibilities, the IRS CID is authorized to seize assets in combating crime and unlawful activities ...

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  • No Estate Tax this Year
    No Estate Tax this Year

    If you are an heir to a large estate this year, count your lucky stars. This year, Congress has allowed the estate tax to lapse so whoever inherits anything from a dearly departed is free from tax as ...

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  • Section 9006 Tax Reporting for Small Businesses
    Section 9006 Tax Reporting for Small Businesses

    Section 9006 of the new Health Care Reform bill states that businesses have to submit a Form 1099 for all purchases of goods and services of more than $600 a year made from any vendor. This ...

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  • Possible Outcomes of New 1099 Tax Law
    Possible Outcomes of New 1099 Tax Law

    Beginning 2012, all businesses will have to submit Form 1099 for every purchase they make of goods or services costing above $600. But this does not apply to purchases made by credit or debit cards. ...

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  • American HSBC Account Holders Receive IRS Letters
    American HSBC Account Holders Receive IRS Letters

    In what is widely seen as a move to further clamp down on tax evasion through offshore accounts, the Justice Department has sent numerous letters to account holders of HSBC offshore accounts, in ...

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  • Seneca Nation Casinos come under IRS Audit
    Seneca Nation Casinos come under IRS Audit

    The Seneca Indian Tribe, already under IRS investigation, have come under renewed scrutiny as the IRS launched an audit on its casino operations and its business dealings with employees and ...

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