Month: August 2011

Outsourcing Payroll Duties Relieves Workload, But Not Tax Responsibilities

As an employer, you have many obligations to the federal and state taxing authorities. Among these are requirements that you withhold and pay over Social [...]

IRS Boosts Standard Mileage Rate to Lessen Pain at the Pump

In recognition of the impact gas prices are having on the American public, the IRS has increased the standard mileage rate for business travel from 51 cents [...]

IRS Pursues Payroll Tax Pyramiding

You may think the IRS pursues all taxes equally but they don’t. The IRS is especially vigorous in going after payroll taxes withheld from wages that somehow [...]

Final Regulations Govern Establishing Evidence of Delivery to the IRS

The IRS issued final regulations providing guidance on how taxpayers can prove the timely delivery of physical documents to the IRS or the Tax Court, absent [...]

More IRS Cops, More Audits, Says Treasury Report

The number of federal individual income tax returns examined by the Internal Revenue Service has continuously increased over the past five years, with 1 out of [...]

Potential trouble spots as IRS steps up enforcement

The Internal Revenue Service has added a couple of notches to its enforcement belt. First came the disclosure that international financial services giant [...]

E-filling of income tax returns may cross 50% this year

BANGALORE: E-filing of income tax returns has increased so substantially over the past two years that the income tax department believes paper filing of [...]

GOvernment investigating details of assets and payments received by Indian citizens in several countries

Details of assets and payments received by Indian citizens in several countries have “started flowing in” and are being investigated, Finance [...]