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Along with the changes to IRS Form W-2 for tax year 2016 and thereafter under the Protecting Americans from Tax Hikes (PATH) Act of 2015, there have been changes to the deadline and penalties associated with IRS Form 1099-Misc, and Form 1099-K as well. The following is an overview by A.G. Tax analysts on the...
The IRS will start accepting 2016 tax returns from 23rd January onward. Amongst the various tax points to keep in mind this tax season, here are a few important things to do before the U.S. Tax Filing Season. Maximize Your IRA and/or 401(k) Contributions Workplace contributions for the tax year 2016 must be made before...
Gift tax may be one of the IRS’s most-hated practices, but there are several ways to eliminate it. As discussed in our previous article (Gifts and Gift Tax Return), not only is gifting beyond a certain limit (to anyone other than one’s spouse) taxable by the Internal Revenue Service (IRS), but also any delay in...
Tax filing and payment can be tedious tasks filled with complications. At AG Tax we work with your specific tax situation to avoid these potential headaches. Here are a few worthwhile tax tips, involving filing and payment options (especially relevant for those anticipating a tax bill). U.S. Tax Filing Tips • File your tax returns...
Many US citizens or US residents living or working in Canada and many Canadians living in the US have invested in Canadian Mutual Funds. A significant number of these investors may not realize that foreign mutual funds are classified as Passive Foreign Investment Companies. If they were not aware that they unwittingly held an interest...
United States Department of Justice: Offshore Compliance Initiative News August 3 2011 UBS Client Pleads Guilty to Filing False Tax Return August 2 2011 Former UBS Banker Charged with Helping U.S. Taxpayers Use Secret Swiss Bank Accounts to Evade U.S. Taxes July 21, 2011 Swiss International Bank’s Former Head of North America Offshore Banking, Others...
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