Year-end individual taxation report Cook, Ellen; Fava, Karl L; Gershman, Edward A ...
The Tax Adviser,
12/2011, Letnik:
42, Številka:
12
Magazine Article, Trade Publication Article
This article covers developments from the past year affecting taxation of individuals, including last year's tax relief, health care, and small business legislation, regulations, cases, and IRS ...guidance. The items are arranged in Code section order.
Individual taxation report: recent developments Auerbach, Art; Cook, Ellen D; Fowler, Anna C ...
The Tax Adviser,
11/2010, Letnik:
41, Številka:
11
Magazine Article, Trade Publication Article
This article covers recent developments affecting taxation of individuals, including the health care reform and other legislation, regulations, cases, and IRS guidance. The items are arranged in Code ...section order and the subjects addressed include: hope and lifetime earning credits, earned income credit, first-time homebuyer credit, refundable credit for coverage under a qualified health plan, adoption expenses, employee health insurance expenses of small employers, adjustments in computing AMT, compensation for injuries or sickness, income from discharge of indebtedness, charitable contributions and gifts, deduction for certain unused business credits, and determination of amount and recognition of gain or loss.
This article covers recent significant developments affecting taxation of individuals, including legislative changes, cases, regulations, and other IRS guidance. The items are arranged in Code ...section order. The Treasury Inspector General for Tax Administration (TIGTA) semi-annual report to Congress for the period October 2008-March 2009 includes a recommendation that legislation is needed to clarify whether refundable tax credits, such as the additional child tax credit, may be paid to filers without valid Social Security numbers. Currently, an individual taxpayer identification number (ITIN) is available to any resident or nonresident alien who is unable to obtain an SSN but has a tax return filing requirement. Each year the IRS approves billions of dollars in tax credits claimed by G?? filers without adequate verification of eligibility. In tax year 2007, for example, more than 1.2 million (66%) ITIN filers received additional child tax credits of $1.8 billion. The TIGTA report says payment of federal funds to ITIN filers is inconsistent with federal law and policy
Individual tax report Fava, Karl L; Horn, Jonathan; Moore, Daniel T ...
The Tax Adviser,
09/2013, Letnik:
44, Številka:
9
Magazine Article, Trade Publication Article
An adoption expense credit was denied to a taxpayer who filed her return using married-filing-separate status. The taxpayer claimed that the denial of the credit was unconstitutional. The Tax Court ...upheld the joint filing requirement for purposes of the adoption credit as valid under the Equal Protection Clause of the Constitution. The American Taxpayer Relief Act of 2012 restored a limitation on itemized deductions, but with new thresholds for when the limitation applies. For 2013, the adjusted gross income (AGI) thresholds are $250,000 for single filers, $300,000 for married couples filing jointly, and $275,000 for filers using the head-of household status.
Developments in individual taxation Fava, Karl L; Horn, Jonathan; Moore, Daniel T ...
The Tax Adviser,
03/2013, Letnik:
44, Številka:
3
Magazine Article, Trade Publication Article
This article covers recent developments in individual taxation. The items are arranged in Code section order. The following sections are reviewed: 1. Sec. 1: Tax Imposed; 2. Sec. 24: Child Tax ...Credit; 3. Sec. 61: Gross Income Defined; 4. Sec. 104: compensation for Injuries or Sickness; 5. Sec. 107: Rental Value of Parsonage; 6. Sec. 108: Income From Discharge of Indebtedness; 7. Sec. 1031: Like-Kind Exchange; 8. Sec. 1033: Involuntary Conversions; 9. Sec. 3121: Employment Taxes; and 10. Sec. 6013: Joint Returns of Income Tax by Husband and Wife.
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