Latest threads in Taxes General Forumshow only best voted threads
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CCH Tax News Headlines - August 22, 2011
CCH Tax News Headlines - August 22, 2011 Federal Headlines: 8/22/2011 - _Interim Guidance Provided to Payment Settlement Entities; Final Regs. Will Be Amended (Notice 2011-71)_ ( 8/22/2011 - _Guidance...
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12 years ago
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CCH Tax News Headlines - August 19, 32011
CCH Tax News Headlines - August 19, 32011 Federal Headlines: 8/19/2011 - _President's Economic Speech to Focus on Jobs and Deficit Reduction_ ( 8/19/2011 - _Final Exempt Bond Regulations Define Solid...
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12 years ago
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Life Insurance Loan
About 10 years ago I borrowed from the equity in a whole life policy. I was never able to pay back this amount. In 2006 I declared bankruptcy and listed the loan amount plus accrued interest on the...
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12 years ago
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Mortgage Credit Certificate
Taxpayer obtained a Mortgage Credit Certificate (20%) through a state-sponsored first time home buyer program in 2007. Taxpayer wants to refinance for a lower interest rate, but doing so will...
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12 years ago
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CCH Tax News Headlines - August 18, 2011
CCH Tax News Headlines - August 18, 2011 Federal Headlines: 8/18/2011 - _IRS Seeks New Issues for IIR Program_ ( 8/18/2011 - _Proposed Regulations Address Disclosure of Summary of Benefits and...
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12 years ago
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Collection statute-of-limitations
Does preparation of a substitute-for-return by the IRS start the clock on the 10 year collection statute-of-limitations for an individual taxpayer?
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12 years ago
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Use of 529 College Savings Plan for Qualified Off-Campus Living Expenses
Last month I posted questions on use of 529 plan for college expenses, and we all agreed that per Pub 970, off-campus room and board expenses drawn from a 529 plan are qualified expenses up to but not...
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12 years ago
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Tax question
If a couple that owns 2 rentals jointly in California now wants to undo the joint title as part of a divorce and give each other 1 of the rental properties, will there be any tax ramifications? That...
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12 years ago
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CCH Tax News Headlines - August 17, 2011
CCH Tax News Headlines - August 17, 2011 Federal Headlines: 8/17/2011 - _Final Regulations Issued on Deduction of Start-up and Organizational Expenses (T.D. 9542)_ ( State Headlines: 8/17/2011 - _Iowa...
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12 years ago
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cash basis carrying inventory
IRS Pub 538 pages 14 to 16 talks about cases when a cash basis taxpayer can carry inventory. Exclude the easy case which is revenue procedure 2001-10, for taxpayers with under one million in gross...
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12 years ago
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Tax News Headlines - August 16, 2011
Tax News Headlines - August 16, 2011 Federal Headlines: 8/16/2011 - _Couple Not Entitled to Deduct Net Operating Losses; Mandatory Carryback and Carryover Process Not Followed (Hall, FedCl)_ (...
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12 years ago
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Tax refund... Shouldn't I have it by now?
In April my accountant filed an amended 2007 return to carry back 2008 foreign tax credit.(it looked like I would never have a chance to carry it forward) I did exactly the same thing for my son. His...
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12 years ago
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CCH Tax News Headlines - August 15, 2011
CCH Tax News Headlines - August 15, 2011 Federal Headlines: 8/15/2011 - _Rates Used in Computing Special Use Value Issued (Rev. Rul. 2011-17)_ ( 8/15/2011 - _CCH Weekly Report from Washington, D.C._ (...
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12 years ago
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US taxation of foreign source income
Despite much online digging I haven't been able to come up with straight answers for what should be fairly simple questions regarding US taxation of foreign source income. 1) A US client owned a piece...
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12 years ago
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NY Estate Taxes
My elderly parents took out an insurance policy maybe 20 years ago. That policy will pay ~$100 K, to each of five siblings - after both Mom and Dad have died. My mother is deceased, I do not exect Dad...
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12 years ago
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