Category Archives: IRS

IRS 2009-2010 Priority Guidance Plan

Posted on December 3, 2009 by Russ

A couple of weeks ago the IRS released their 2009-2010 Priority Guidance Plan. There are 315 items on the list. It reflects the IRS’ goals in areas to give guidance; not every one of the 315 items will be covered … Continue reading →

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Standard Mileage Rates for 2010

Posted on December 3, 2009 by Russ

The IRS announced this morning the standard mileage rates for 2010. They are: $0.50/mile for business miles ($0.55/mile in 2009) $0.165/mile for medical and moving ($0.24/mile in 2009) $0.14/mile for charitable purposes (unchanged; set by statute) The details are in … Continue reading →

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I Survived!

Posted on October 18, 2009 by Russ

There’s a show on Discovery called I Survived. The show features individuals who survive situations that could lead to death. Nothing like that for me (thankfully), but another tax season has come and gone. I can put 2008 to bed … Continue reading →

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FBAR Extension Applies to Late Filers, Too

Posted on September 21, 2009 by Russ

With the IRS announcing the extension for FBAR voluntary disclosure filers, an obvious question is whether the extension also applies to those who are simply late in filing their 2008 Report of Foreign Bank and Financial Accounts (Form TD F … Continue reading →

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FBAR: Extension to October 15th?(Confirmed)

Posted on September 21, 2009 by Russ

Bloomberg is reporting that the IRS will delay the September 23rd extended deadline for filing the Report of Foreign Bank and Financial Accounts (Form TD F 90-22.1, or FBAR) until October 15th. The extension (of an extension) was requested by … Continue reading →

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Amnesty, FBAR Deadline Less Than A Week Away

Posted on September 17, 2009 by Russ

FBAR. Just four letters, but put together it’s become a very interesting tax story this summer. Well, that story will play out as summer turns to fall next week. The IRS’ limited amnesty on criminal prosecutions of late filers of … Continue reading →

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Deadline Day

Posted on September 14, 2009 by Russ

Tuesday, September 15th is a big tax deadline. 3rd quarter estimated payments for individuals are due; 3rd quarter estimated payments for corporations are due; Calendar year corporate returns on extension are due (both C Corporations and S Corporations); Partnership and … Continue reading →

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Updates From the Blogosphere

Posted on September 6, 2009 by Russ

Over the past week there’s been some interesting stories posted around the tax Blogosphere: The IRS posted a page titled “Keeping Good Records Reduces Stress at Tax Time.” I cannot stress this enough. If you have good records (especailly good … Continue reading →

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Another Battle in the Spanish-American War?

Posted on August 9, 2009 by Russ

Remember the Maine? That was the battle cry for the Spanish-American War. That war was fought in 1898 and was funded by an excise tax on a then luxury, telephone service. Move forward 90 years. The excise tax was still … Continue reading →

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More on FBAR

Posted on July 20, 2009 by Russ

The Foreign Bank and Financial Account Reporting (FBAR) has been making the news. Today’s Wall Street Journal has an article detailing some of the issues with the filing requirements. Additionally, the New York State Bar Association isn’t happy with the … Continue reading →

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