TITLE

Irs briefing

PUB. DATE
February 2005
SOURCE
Practical Accountant;Feb2005, Vol. 38 Issue 2, p14
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article presents news related to the taxation in the U.S. According a snippet, quickly enacted legislation in the U.S. allows taxpayers to deduct in 2004, charitable contributions of cash made in January 2005 for the relief of victims of the December 26, 2004. According to another snippet, in IR-2004-155, the U.S. Internal Revenue Service has issued letters to approximately 1,700 businesses and retirement plan sponsors alerting them to new income and excise taxes applicable to S Corporation employee stock ownership plans and warning of the consequences of participating in abusive schemes involving ESOPs and S Corporations.
ACCESSION #
15891776

 

Related Articles

  • Tax News.  // Small Business Tax Strategies;Mar2013, Vol. 8 Issue 3, p1 

    The article reports on U.S. Internal Revenue Service's (IRS) revelation that individual returns' audit rate has declined in 2012, on a federal court's decision to ban IRS' licensing program, and on Treasury Inspector General for Tax Administration's finding that the IRS must do charity crackdowns.

  • An IRS crackdown on car donations. Kirwan, Roberta // Money;Nov99, Vol. 28 Issue 11, p186 

    Reveals that the United States Internal Revenue Service (IRS) is focusing on charitable donations of automobiles. Questions about taxpayers and charities abusing this deduction; What the IRS is concerned with; What taxpayers will owe if they overestimate the deduction.

  • THE IRS HELPS CRTs. Miller, Richard // Journal of Property Management;Jul/Aug2000, Vol. 65 Issue 4, p80 

    Offers a look at the tax issues associated with charitable remainder trust (CRT) in the United States. Reason why real estate is often not transferred to a CRT; Information on the creation of a debt-encumbered property CRT; Tax benefits from the CRT program proposed by the Internal Revenue Service.

  • Simplification of Returns for Charitable Lead and Charitable Remainder Trusts. Berall, Frank S. // Journal of Retirement Planning;Nov2008, Vol. 11 Issue 6, p27 

    The article discusses the effort made by the Internal Revenue Service (IRS) in strengthening interest trust returns for charitable lead unitrusts (CLUTs), charitable lead annuity trusts (CLATS), charitable remainder trusts (CRUTS) and charitable remainder annuity trusts (CRATS) in the U.S. The...

  • Failure to Exercise Expenditure Responsibility Means No Abatement of Excise Taxes on Grant to Nonexempt Entity.  // Family Foundation Advisor;Mar/Apr2014, Vol. 13 Issue 3, p16 

    The article reports on Technical Advice Memorandum (TAM) issued by U.S. Internal Revenue Service (IRS) on September 26, 2013. It states that TAM 201351027 tells that a private operating foundation cannot avail the abatement of excise taxes on nonexempt entity made by the failure to practice...

  • Final regulations issued for charitable remainder trusts. Marcus, Fred J.; Freeman, Douglas K. // Journal of Financial Service Professionals;Mar1999, Vol. 53 Issue 2, p22 

    Highlights the United States Internal Revenue Service's final regulations for charitable remainder trusts (CRT). Conversion from one of the income exception methods to the fixed percentage method for calculation of the unitrust amount; Payment of the annuity or unitrust amount; Appraisal of...

  • Final regulations issued for charitable remainder trusts. Marcus, Fred J.; Freeman, Douglas K. // Journal of Financial Service Professionals;Mar1999, Vol. 53 Issue 2, p22 

    Highlights the United States Internal Revenue Service's final regulations for charitable remainder trusts (CRT). Conversion from one of the income exception methods to the fixed percentage method for calculation of the unitrust amount; Payment of the annuity or unitrust amount; Appraisal of...

  • The Tax Man's Warning. Gettlin, Robert // National Journal;5/8/2004, Vol. 36 Issue 19, p1428 

    Deals with the warning issued by the U.S. Internal Revenue Service (IRS) to charities involved in political activities not to work for or against any candidate for elective office. Type of political activities exempted from the IRS rule; Penalty facing violators.

  • 9 wackiest tax deductions of the year.  // Tax Strategist;May2009, Vol. 4 Issue 5, p6 

    The article reports on the 2009 edition of the nine wackiest tax deductions compiled by the web site bankrate.com in the U.S. These include the case of two single men who jointly filed as a married couple at the Internal Revenue Service (IRS). Another involves a taxpayer who claimed tax...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics