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Since the passage of the corporate tax cuts and Jobs Act at the end of the year 2017, the corporate section in the United States of America is adjusting the strategies to run their business after the corporate tax cuts….
Offshore Profit Tax : The Internal Revenue Service (IRS) issues a notification for all those companies in the United States that owe taxes on overseas profits. The companies that owe off-shore profit tax are continuously being monitored and watched by…
New Tax Form 8996; The Internal Revenue Service (IRS) and the Treasury Department of the United States propose opportunity zone tax form. According to the details, a draft version of a proposed tax form is released jointly by the IRS…
IRS Issues Tax Inflation Adjustments; The Internal Revenue Service (IRS) provides the tax year 2020 annual inflation adjustments including the tax rate; schedules as well as other tax changes in the United States, applicable for 60 plus tax provisions. To…
IRS Increases 401 Contributions; The Internal Revenue Service (IRS) today announced that all employees throughout the United States in 401(k) plans will be eligible to contribute up to $19,500 next year in 2020. Further changes have been made in Notice…
IRS Corporate Audits – Speeding Up Plan Implementation; The IRS is not proven efficient to audit corporations and businesses in the United States. Despite of all changes and improvements in the tax examinations conducting criteria of IRS, the agency is…
IRS Waives Late Tax Filing; The IRS has expanded the tax penalty for the year of 2018 for all taxpayers in the USA. With this great news of no penalty on late tax filing in USA. The taxpayers are getting…
The Internal Revenue Service (IRS) announced that the tax year 2018 extended tax deadline was 15th October, 2018. With the announcement of the extended tax due date for the year 2018. Most of the taxpayers in the United States got…
The Internal Revenue Service (IRS) alerts the tax professionals as well as taxpayers throughout United States about the caution of a new scam regarding the cancellation of their social security number (SSN). According to the IRS, all tax professionals in…
The Internal Revenue Service (IRS) issues a set of final regulations regarding the new information reporting requirements for certain life insurance contract transactions and modifications to the transfer for valuable consideration rules in the United States. You can view the…