Latest threads in Taxes General Forumshow only best voted threads
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Car leasing and depreciation question
I see quite a few business / self employed folks lease cars. I wonder what the advantages are. Could it be that: 1. they can write off the lease payments AND 2, Write off the depreciation too. ( FAS...
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12 years ago
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foreign tax home & US abode redux
This topic comes up quite a bit in this forum. My question pertains in particular to a scenario very similar to the following thread from 2008, which I provide a link to here just to help you warm up....
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12 years ago
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CCH Tax News Headlines - May 2, 2011
CCH Tax News Headlines - May 2, 2011 Federal Headlines: 5/2/2011 - _Genuine Issues of Material Fact Existed Regarding Business Nature of Individual's Aircraft Expenses; Deferred Like-Kind Exchange...
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12 years ago
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Questions on Form 6765 for R&D Tax Credit
Line 6 of Form 6765 is for the Cost of Supplies. Strangely, the instructions for Form 6765 simply omit any reference to that line item. Can someone clarify what kinds of items are permitted for...
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12 years ago
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Omitted IRC Section 754 statement
On rereading the instructions on the K-1 for an MLP I purchased in December, I see that I was supposed to file a small statement: IRC SECTION 754 STATEMENT The taxpayer is a transferee partner in...
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12 years ago
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IRS does not cash my check correctly
I owed 12k and paid 4k of it online through So I mailed in my check of $8k before 4/17. Now today I received from my bank, "notice of insufficient funds". It seems IRS assumed my check was for $12k...
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12 years ago
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CCH Tax News Headlines - April 28, 2011
CCH Tax News Headlines - April 28, 2011 Federal Headlines: 4/28/2011 - _Congress Should Raise Debt Ceiling Apart from Deficit-Reduction Talks, White House Says_ ( 4/28/2011 - _President Issues...
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12 years ago
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CCH Tax News Headlines - April 27, 2011
CCH Tax News Headlines - April 27, 2011 Federal Headlines: 4/27/2011 - _President Urges Immediate End to Oil and Gas Tax Subsidies_ ( 4/27/2011 - _Filing, Payment Deadlines Extended for Victims of...
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12 years ago
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can a testamentary trust be a qualified revocable trust?
I'm referring to IRC Section 645 elections. A qualified revocable trust (QRT) is defined in 645(b)(1) as "any trust (or portion thereof) which was treated under Section 676 as owned by the decedent of...
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12 years ago
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Who has the burden of proof on extended assessment periods?
This came out of a discussion with someone over how long to keep returns and backup documentation... As (layman) I understand it, in the first three years the IRS can go after a return for any reason....
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12 years ago
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Could I really have a 50% marginal federal tax rate?
I have gotten an extension to puzzle over what to do about my 2010 Roth conversion. I converted $201,000 in 2010. Since I had some other unexpected income in 2010, my taxes are more than I expected...
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12 years ago
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CCH Tax News Headlines = April 26, 2011
CCH Tax News Headlines = April 26, 2011 Federal Headlines: 4/26/2011 - _IRS Begins Enforcement of New Return Preparer Rules (IR-2011-47)_ ( 4/26/2011 - _Six-Year Assessment Limitation Period Did Not...
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12 years ago
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Investments and Filing Status
I recently inherited a large value of Bank of America corporate bonds, which were bought through Chase Bank, about 7 years ago. They are still with Chase. They earn high rates of taxable interest. Any...
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12 years ago
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Tax Foundation releases marginal rates graphing tool
It's at: neat! -- Rich Carreiro See marginal tax rates on your income.
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12 years ago
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extension and payments for wrong entity
There was a mix up over the names. Somebody (not me!) filed an extension for the estate of John Doe instead of for the the John Doe Testimentary Trust. The surviving wife was a trustee and executrix...
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12 years ago
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