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CCH Tax News Headlines - June 20, 2011
CCH Tax News Headlines - June 20, 2011 Federal Headlines: 6/20/2011 - _Officers and Employees of Investment Advisors Registered with SEC Granted Extension for FBAR Filing to June 30, 2012 (FinCEN...
 
2011 Calif tax rates?
I thought the 2011 Calif tax rate table would not be determined before August as usual(?); that is, some time after the budget is passed, which is usually later than its June 30 deadline. Right? And...
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Income tax refund recoveries.
I hadn't noticed this, and maybe some of you haven't either. Traditionally, for a recovery (including state income tax refunds), we're used to thinking that if a [cash basis*] taxpayer got a tax...
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CCH Tax News Headlines - June 13, 2011
CCH Tax News Headlines - June 13, 2011 Federal Headlines: 6/17/2011 - _Deadline for Filing FBAR for Persons Having Signature Authority over Foreign Financial Account for Calendar Years 2009 or Earlier...
 
Bad Debts Expense
Can a cash basis sole prop take a deduction for bad debts? My understanding is that "bad debts" only applies to organizations that use accrual accounting and have therefore already accrued income...
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Charitable Deduction when self employed?
I am a self-employed web developer. Can I take a charitable deduction for either of the following?: 1. I perform regular web maintenance/development for a 501-c(3) charity at no cost. There are no...
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Tax ramifications...
Son/DIL in cash flow problem owing to new g'daughter w/ some medical issues and lower income from less dil work time, etc., ... Med coverage is excellent so the medical bills are mostly taken care of...
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CCH Tax News Headlines - June 15, 2011
CCH Tax News Headlines - June 15, 2011 Federal Headlines: 6/15/2011 - _Senate Rejects Repeal of Ethanol Tax Credit_ ( 6/15/2011 - _Statistics of Income Bulletin for Spring 2011 Available (IR-2011-67)_...
 
Who files FBAR? Trust or trustees?
A trust owns a single member LLC, which in turn owns 100% of a foreign entity. I'm confused by the wording in the February 2011 final rules on the FBAR. It says "a U.S. trustee must file the FBAR for...
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CCH Tax News Headlines - June 13, 2011
CCH Tax News Headlines - June 13, 2011 Federal Headlines: 6/13/2011 - _IRS Issues 2011 Inflation Adjustment Factor for Carbon Dioxide Capture Credit (Notice 2011-50)_ ( 6/13/2011 - _IRS Extends...
 
CCH Tax News Headlines - June 14, 2011
CCH Tax News Headlines - June 14, 2011 Federal Headlines: 6/14/2011 - _Nonresident Alien's U.S. Gambling Winnings Were Taxable, Accuracy-Related Penalty Applied (Park, TC)_ ( 6/14/2011 -...
 
2010 paper form 5500-EZ
Months ago, I placed an order with the IRS for the 2010 paper form 5500-EZ, but have not yet seen it. Phone calls to both DOL and IRS have not definitively confirmed that the form will be forthcoming...
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Spoof from Internal Revenue Service (IRS)
I got an email today from " " that purports to link to an "IRS return preparer job analysis survey." I could find no such survey mentioned on the Tax Pros page at And the email did not include an IRS...
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After hours of trying, no luck getting help from the IRS
I e-filed my Federal return around February 18. A week later, I filed a 1040X because my company issued me a W-2c, due to increased wages due to disqualifying disposition in December that didn't get...
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CCH Tax News Headlines - June 10, 2011
CCH Tax News Headlines - June 10, 2011 Federal Headlines: 6/10/2011 - _IRS Issues Final Regulations Relating to Election and Calculation of Alternative Simplified Credit (T.D. 9528)_ ( 6/10/2011 -...