Month: June 2014

Gift Tax Returns: What You Need To Know

In the countdown to April 15, many people rushing to prepare their individual income tax returns will overlook another key tax document that’s due the same [...]

Supreme Court Agrees To Hear Landmark Case On Whether States May Tax Income Earned In Other States

The Supreme Court had a busy day on Tuesday. When the dust settled, however, it had only granted one new case – but it was a big one. The nation’s highest [...]

Real Estate In Your IRA – How Not To Do It

Using IRA funds to invest in real estate can be a very good idea.  Well, at least I know one person for whom it worked out.  It did not, however, work out [...]

Taxpayer Bill of Rights

Since assuming her position in 2001, National Taxpayer Advocate Nina E. Olson has emphasized the protection of taxpayer rights in tax administration. In her [...]

Summer Camp 40% Off, Thanks Uncle Sam

Are summer camp costs adding up? If you send your kids to camp so you can work, Uncle Sam can help you cut the price by 20% to 40%. Summer camp? Really. Day [...]

Amendment in capital gain scheme 2012

Income tax department made the first amendment in capital gain account scheme 2012. In this amendment income tax department amended in the paragraph of 1, 2, [...]

Short term capital gain will continue in FY 2013-14

Indian government does not want to abolish the short term capital gain tax on securities which is taxed 15% on listed securities and 30% on unlisted [...]

Cost inflation index for financial year 2014-15

Cost inflation index for the financial year 2014-15 is notified by income tax department. Cost inflation index is very useful to calculate long term capital [...]

The Islands Treasured by Offshore Tax Avoiders

Did you know that United States companies earned $129 billion in 2010 in three small groups of islands? That is what they told the Internal Revenue Service [...]

PORTOLA VALLEY, CALIF., MAN SENTENCED TO PRISON FOR FAILURE TO REPORT FOREIGN BANK ACCOUNTS HELD AT UBS

WASHINGTON – Christopher B. Berg of Portola Valley, Calif., was sentenced yesterday to one year and one day in prison to be followed by three years [...]