Category Archives: Taxation

Lil’ Kim Files for Bankruptcy

Recently the IRS disclosed that the platinum selling rapper owes $1.47 million in back taxes. Her court documents list more than $4 million in both secured and unsecured debts. Her gross annual income dropped in recent years from roughly $825,000 to … Continue reading

Posted in Taxation | Tagged | Leave a comment

Jawbone Trade Secrets Case Leads to 6 Fitbit Staff Indictment

In a statement released by the Department of Justice, six former and current Fitbit Inc. employees were charged for possessing trade secrets stolen from their competitor Jawbone. Each employee had worked previously at Jawbone for a minimum of a year … Continue reading

Posted in Business, Corporations, Partnerships, & More | Tagged | Leave a comment

Miranda Rights

Here are a few tips, courtesy of the Missouri Bar, regarding your Miranda Rights: What Are Your “Miranda” Rights? The name “Miranda” comes from a case decided by the United States Supreme Court. The Court’s decision requires the police to … Continue reading

Posted in Taxation | Tagged , , , , | Leave a comment

What to do if you get arrested

Here are a few tips from the Missouri Bar regarding if you get arrested: When Can You Be Arrested? • If a police officer has a warrant for your arrest. • If a police officer believes that you have violated … Continue reading

Posted in Taxation | Tagged , , | Leave a comment

More Innocent Spouses Qualify for Relief Under New IRS Guidelines

The Internal Revenue Service released new proposed guidelines designed to provide relief to more innocent spouses requesting equitable relief from income tax liability. A Notice proposing a new revenue procedure, posted today on IRS.gov, revises the threshold requirements for requesting … Continue reading

Posted in Individual, Taxation | Leave a comment

IRS and Treasury Department Publish Temporary Regulations on Treatment of Tangible Property

The Internal Revenue Service and Treasury Department published in the Federal Register temporary regulations that provide guidance to taxpayers on the treatment of amounts paid to acquire, produce or improve tangible property and regarding the accounting for, and dispositions of, … Continue reading

Posted in Individual, Taxation | Leave a comment

Interest Rates Remain the Same for the First Quarter of 2012

The Internal Revenue Service announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2012. The rates will be: three (3) percent for overpayments [two (2) percent in the case of a corporation]; three (3) … Continue reading

Posted in Corporations, Partnerships, & More, General, Individual, Taxation | Leave a comment

IRS Seeks to Return $153 Million in Undelivered Checks to Taxpayers; Recommends e-file, Direct Deposit to Avoid Future Delivery Problems

In an annual reminder to taxpayers, the Internal Revenue Service announced that it is looking to return $153.3 million in undelivered tax refund checks. In all, 99,123 taxpayers are due refund checks this year that could not be delivered because … Continue reading

Posted in Individual, Taxation | Leave a comment

IRS Issues Proposed Regulations That Would Require Tax Preparers to File Due Diligence Checklist with All EITC Claims Submitted in 2012

The Internal Revenue Service announced that it is issuing proposed regulations that would require paid tax return preparers, beginning in 2012, to file a due diligence checklist, Form 8867, with any federal return claiming the Earned Income Tax Credit (EITC). … Continue reading

Posted in Taxation | Leave a comment

Keep Good Records Now to Reduce Tax-Time Stress

You may not be thinking about your tax return right now, but summer is a great time to start planning for next year. Organized records not only make preparing your return easier, but may also remind you of relevant transactions, … Continue reading

Posted in Individual, Taxation | Leave a comment