Month: May 2010

The IRS Picks On the Little Guy

Tax audits of big companies have declined as the Internal Revenue Service shifts its attention to smaller businesses. Marie Leone - | US The Internal [...]

Tax Error? Can't Blame the Software

The “Tim Geithner Defense” is rejected by the tax court.  By Peter Blank, Editor, The Kiplinger Tax LetterMay 6, 2010 Software programs may make doing [...]

Press Release regarding e-filing facility for AY 2010-11

PRESS RELEASE: New Delhi dated 17th May 2010 Pending completion of certification procedure, the e-filing facility for AY 2010-11 has been temporarily [...]

e-filing of I-T returns suspended

May 18, 2010 The Finance Ministry has suspended the facility of e-filing of income tax returns, as security certification for the Income Tax Department’s [...]

What Is Reasonable Compensation for S Corporation Shareholder-Employees?

The issue of what reasonable compensation for shareholder-employees of S corporations should be has been around for some time. Every time the IRS accepts a [...]

TDS 40 pc of total direct tax proceeds

TDS has become an important component of the Centre’s revenue mop-up efforts. In 2009-10, the total TDS collections stood at Rs 1.53 lakh crore, accounting [...]

TDS tutorial

The Income-Tax Department hopes to become much more efficient this year to meet the service expectations of the taxpayers and citizens, Mr Durgesh Shankar, [...]

CBDT plans to set up two more central processing centres to improve taxpayer services

The Central Board of Direct Taxes plans to set up two more central processing centres (CPC) — one each in Ahmedabad and Faridabad (National Capital Region) [...]