The Internal Revenue Service today announced that the Winter 2015 issue of the Statistics of Income Bulletin is now available. Articles provide the most recent data available from various tax and information returns filed by U.S. taxpayers. This particular issue includes articles on the following topics: Sole Proprietorship Returns, 2012—Profits for almost 24 million returns…
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FATCA Update! – 112 FATCA Agreement To Date!
Since our last FATCA update which we posted on Monday, December 1, 2014, FATCA Update! - 101 FATCA Agreement To Date! the following 11 countries have signed FATCA agreements with the US bringing the total to 112 jurisdictions with FATCA agreement including : The U.S. and Seychelles sign agreement to implement FATCA. Seychelles is about to…
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5th Circ. Reverses Poultry Co.'s $30M Tax Deficiency
Law360.com - The Fifth Circuit on Wednesday handed a major victory to poultry production giant Pilgrim's Pride Corp., reversing a U.S. Tax Court decision that asserted the company owed $29.7 million in deficient taxes due to falsely claiming an ordinary loss after abandoning $98.6 million in securities. Have A Tax Problem? Contact the Tax Lawyers…
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IRS Automatic Collections Using LT11 to Notify of CDP Rights/30-day levy notice
According to Anthony Parent he has just notice that the IRS ACS is now sending Notice LT11 instead of Letter 1058-C "Final Notice of Intent to Levy." The IRS Automated Collection Systems (ACS) has stopped using Letter 1058-C “Final Notice of Intent to Levy,” and instead, is using Notice LT11 (Note: Revenue Officers are still using…
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