Latest threads in Taxes General Forumshow only best voted threads

Subject Author Posted Replies
 
CCH TAX NEWS for June 15, 2006
CCH TAX NEWS for June 15, 2006 FEDERAL NEWS House Passes 2007 Transportation-Treasury Appropriations Bill Stay Provision in Bankruptcy Code Not Applicable to Liabilities of LLC (People Place Auto Hand...
 
HELP!!
A really good friend of mine has always paid his taxes on time, always filed on time etc. About 25 years ago, an investment of his got disallowed (some kind of limited real estate partnership or...
5
5
 
Revoking an 83(b) election - Rev Proc 2006-31
On June 13, the IRS issued Revenue Procedure 2006-31 (IRB 2006-27) which provides guidance on requesting consent to revoke a Section 83(b) election. Here are the relevant parts of the Rev Proc....
 
Question about Self-Employed NOL
I have several questions about what to do with a NOL for a self-employed individual. First, an election to waive the carry back was not filed. The NOL was created in 2004. So carry backs must first go...
2
2
 
Need sales tax information for Colorado cities
I am trying to enter Colorado sales tax information into a database for a POS system. Colorado sales tax seems to be a complete nightmare. If I understand it correctly: in CO retail buyers are not...
4
4
 
here's a puzzle for you
maybe. Taxpayer orders online from Home Depot web site 4 patio chairs, table and umbrella. Orders are shipped via common carrier with no shipping charge. Seller maintains 1 800 number for customer...
35
35
 
Mortgage interest deduction
I am aware of the $100,000 limit on the deductibility of interest for home equity loans. My question is if I were planning on obtaining a single home equity loan for, say, $110,000, would the $10,000...
7
7
 
eliminating the long term capital gains tax
There was considerable talk about reducing or possibly eliminating the long term capital gains tax. I would appreciate knowing where the discussions are in Congress. Is this currently an agenda item.
3
3
 
divorce and deductions
Alas, my spouse and I are divorcing and this is a tax-related divorce question, so I hope it isn't off topic for the group. We are trying to get all of our ducks in a row and work out an agreeable...
2
2
 
CCH TAX NEWS for June 14, 2006
CCH TAX NEWS for June 14, 2006 FEDERAL NEWS Baucus Urges Stronger Efforts to Close Tax Gap Issued for Requesting Consent to Revoke a Code Sec. 83(b) Election (Rev. Proc. 2006-31) STATE NEWS Oregon...
 
my mother's unexpected MA tax refund
My mother today received an unexpected MA state tax refund of $14.17. (This is--by no coincidence I assume--the amount of MA taxes that she paid.) The notice that accompanied the check said that the...
3
3
 
On a lighter note
In the recent California primary and local election, the candidate for the post of Los Angeles County Assessor, John Low Taxes Loew, lost to the incumbent (78%-22%). John Loew had his middle name...
 
CCH TAX NEWS for June 13, 2006
CCH TAX NEWS for June 13, 2006 FEDERAL NEWS Proposed Regulations Clarify Application of Portfolio Interest Exclusion to Partnerships and Simple or Grantor Trusts with Foreign Owners (NPRM...
 
Amending an amended return
I recently finished amending a 2004 return for a client who had originally filed their own return and did not include some broker transactions, and then I prepared their 2005 return for them. They...
1
1
 
Sabbatical leave moving expenses
We have someone visiting on a 1-year sabbatical leave, and we are paying for her family to travel. It looks like it probabaly qualifies as moving expenses, since it's more than 50 miles and for more...