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IRS Determination Letter
 
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Lebanon PA, 12.19.2013: Controller Robert Mettley presented a request to the Retirement Board to join 52 other counties who are represented by Hay Group, to participate in a voluntary IRS program to amend the county retirement plan in order to receive a Determination Letter exempting the pension fund from taxation.
Views: 129 Jo Ellen Litz
Webcast: Assessing Retirement Plan Compliance in a Post-Determination Letter World
 
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Eversheds Sutherland (US) attorneys Brenna Clark and Meredith O’Leary present, "Assessing Retirement Plan Compliance in a Post-Determination Letter World," a webcast on September 28, 2017. Historically, the Internal Revenue Service (IRS) has periodically issued letters to plan sponsors verifying that their plan documents satisfy certain Internal Revenue Code requirements. These determination letters provided comfort not only to plan sponsors, but also to related parties such as auditors, recordkeepers, lenders and buyers in M&A transactions. In 2015, the IRS announced that it was significantly limiting its determination letter program, effective January 1, 2017. As we shift away from the determination letter program, plan sponsors and other parties with an interest in qualified retirement plans should review their options for assessing and documenting plan compliance, as well as new considerations in corporate transactions.
Qualified Retirement Employer Plans – Steve Savant’s Money, the Name of the Game – Part 1 of 5
 
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Sub Headline: ERISA Plans Can Add Significant Value to Employers Benefits Plans Synopsis: Employers are always seeking an edge in employee recruitment and retention. So many companies offer ERISA qualified retirement plans in their company benefits to attract and maintain a solid work force and take advantage of the tax-favored treatment. Watch the video interview with retirement expert Jodie Dailey, CRS, QPA, ERPA. Content: Defined Benefit Plans are one of the most useful of all retirement plans that can favor the older business owner with large income tax deductions while securing significant retirement and estate benefits. This is a brief outline of the potential benefits of these plans. Actual benefits must be calculated and certified by a qualified actuary. General Plan Design: These plans work best when the business owner(s) are older than the general employee population. A Defined Benefit Plan favors older employees because larger contributions are required in light of the shorter time to retirement. Contributions are mandatory each year based on the plan’s benefit formula, unless that formula is amended prior to the accrual of any benefits during the plan year (i.e. first few months of the plan year) or if the plan is terminated. These plans are best suited for those companies that have consistent profits and have a need for ongoing business tax deductions. Integration of a Defined Benefit Plan with a 401(k) Plan: We will strive to have the benefits of the non-key employees funded in the 401(k) plan, while the Defined Benefit plan will fund the benefits for the owners and older employees. Plan Contributions by the Company: The amount of the required plan contribution can be almost any amount the employer wants up to the legal limits. Generally, each plan year, the employer is provided a minimum/maximum range of funding for the plan. In addition, employee demographic is critical in the plan design as factors such as employee turnover can have a major impact on plan design. This is why we ask for detailed census information each plan year. Plan Contributions for Owners: When we design the plan we will always try to maximize benefits and contributions for the owners. The plan design will be set at the amount the employer can comfortably budget. However, when we look at how large the contributions might be for the owners of the company, potentially their allocation may be as high as $400,000 to $500,000 per year per owner. We can design the contribution to be almost any amount within limits, but most owners like to make it as high as possible. Contributions for Employees: The amount of the contribution for employees can vary, but we always try to minimize this while still keeping the plan in compliance with the non- discrimination rules. Retirement Benefits: The retirement plan is exempt from corporate and personal creditors while providing unparalleled retirement income security for all employees. Business Benefits: There are methods whereby the retirement plan can supplement the Exit planning and Buy Sell planning for the business owners. Along with the value of the owner’s company, this retirement plan can become one of the largest assets for the business owner. We want to make sure the plan fits his/her personal planning needs as well as his/her business needs. Tax Risks: The plans are guided by IRS approved plan documents. In addition, upon set up of a plan the plan documents are filed with the IRS and a Determination Letter is requested. Every precaution is taken to design and run the plan within the laws and regulations governing them. Jodie Dailey is a co-contributor to this press release. Syndicated financial columnist, talk show host and popular platform speaker Steve Savant interviews retirement expert Jodie Dailey. Steve Savant’s Money, the Name of the Game is an hour-long financial talk show for financial professionals distributed online in 5 ten-minute video press releases Monday through Friday through Trans World News 280 media outlets, social media networks and industry portals. (www.lifesizesolutions.com) https://youtu.be/GZuM-Ntk6jk
Views: 2281 Steve Savant
2015 Retirement Plan Regulatory Update
 
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Retirement plans operate in a legal, legislative, and regulatory landscape that is constantly evolving. Keeping up with the changes that are relevant to your plan can be a daunting task for retirement plan fiduciaries. In this presentation, Amy Barber, JD boils down this year's chief developments to date, as well as issues on the horizon that may impact your retirement plan in the future. Topics include: - Relevant case law updates - Mandatory restatement period for qualified defined contribution plans - An update on the EPCRS Correction Program - The IRS limiting favorable determination letter program - Audit awareness - Issues on the horizon
403(b) Plan Document and Compliance Update
 
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If you are a governmental or tax-exempt employer that sponsors a 403(b) retirement plan, there are important developments that require your attention. For many years, the IRS offered little guidance to employers as to the specific plan document requirements applicable to 403(b) plans. However, recently the IRS has approved model and prototype plan documents that sponsors of 403(b) plans can adopt to ensure document compliance. As a result, your plan document vendor or service provider may be contacting you in the next few months to offer to restate your plan. This process may appear to be routine, but can result in significant exposure to liability if not evaluated carefully. In addition, the IRS has indicated that it is stepping up its audit activity with respect to such plans. So now is an opportune time to get your plan document in order and to otherwise review your plan’s compliance. During this complimentary one-hour webinar, McAfee & Taft employee benefits attorneys John Papahronis and Jim Prince discuss the process and deadline for adopting the new pre-approved 403(b) plan documents and provide guidance to plan sponsors on how to avoid and correct common plan errors. Topics include: • 403(b) plan restatement process • Risk areas for employers • Common errors in restatements • Common errors in plan operation and administration • Changes to plan provisions • Service agreement issues To view the full webinar, go to http://www.mcafeetaft.com/webinar-403b-plan-document-and-compliance-update
Views: 109 McAfee & Taft
Statutory Notice of Deficiency | What To Do If You Receive a 90 Day Letter From The IRS
 
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http://gregorytaxlaw.com Statutory Notice of Deficiency Free Consultation - 1-888-346-5470 0:18 What it means to receive a Statutory Notice of Deficiency 0:31 Notice of Deficiency or 90 Day Letter From IRS 1:40 How much time taxpayers have to respond to Tax Notice 2:11 What to do if you receive a Statutory Notice of Deficiency Letter 2:30 Hiring a competent Tax Attorney Statutory Notice of Deficiency - What You Should Know If you have received a notice of deficiency from the IRS, do not ignore the notice. You need to take immediate action to protect your right to contest the underlying adjustments in Tax Court. The best defense to receiving an IRS Statutory Notice of Deficiency is to hire tax legal counsel. A notice of deficiency, also called a "statutory notice of deficiency" or "90 day letter," is a legal notice from the IRS Commissioner which determines the taxpayer's tax deficiency. The notice of deficiency will be delivered to the taxpayer via certified or registered mail. The notice of deficiency is a legal determination that is presumptively correct. This means that you, the taxpayer, have the burden of proving that the IRS is wrong. The statutory notice of deficiency consists of the following: a letter explaining the purpose of the notice, the amount of the deficiency, the taxpayer's options, a waiver to allow the taxpayer to agree to the additional tax liability, a statement showing how the deficiency was computed, and an explanation of adjustments. A statutory notice of deficiency notifies the taxpayer that the IRS is about to assess a tax deficiency against the taxpayer. The notice of deficiency also informs the taxpayer of their right to petition the US Tax Court to contest the adjustments proposed in the notice. Taxpayers have a limited time period to file a petition in US Tax Court. Taxpayers residing within the US have 90 days from the date of the notice of deficiency to file a petition with the US Tax Court to contest the deficiency. Taxpayers outside the US are given 150 days to file a petition in US Tax Court. Failure to either pay the adjustments or timely file a petition in US Tax Court results in the assessment of the tax. Once the tax has been assessed, the IRS commences with collection activities. If you receive a notice of deficiency, it is vitally important that you take action. You need to either agree with the government's position or file a petition in US tax court. Ignoring the notice of deficiency will result in an assessment of tax and your case will go directly to the collection phase of the IRS. Contesting a notice of deficiency involves technical tax and procedural issues that most laymen will find very confusing. As such, hiring a competent tax attorney is the best way to handle receiving a notice of deficiency. The IRS has an army of attorneys on their side. Don't fight the IRS, let a former IRS attorney fight for you. Call our office at (888) 346-5470 today for a free consultation. statutory notice of deficiency irs notice of deficiency notice of deficiency irs irs notice certified letter from irs what is a notice of deficiency irs statutory notice of deficiency tax deficiency letter from irs deficiency notice certified mail from irs irs 90 day letter 90 day letter certified letter from the irs certified mail from the irs irs certified letter http://www.youtube.com/watch?v=lijFH7wJCWA
Filing an IRS Petition in a U.S. Tax Court
 
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What to expect in a U.S. tax court when filing a petition. If you have recently undergone an audit or examination, have taken the proper administrative steps to argue your case, but still receive a notice of deficiency or notice of determination that you believe is wrong, or if you have undergone a collection due process hearing and disagree that the appeals officer took all the appropriate steps and considered all of your evidence, you may want to consider taking your matter before the United States Tax Court. Watch this video to learn more about what to expect from this process.
Views: 636 Mendes Weed, LLP
Offshore Voluntary Disclosure Program (OVDP) - How to Avoid FATCA Tax Compliance Penalties (PART 2)
 
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Offshore Voluntary Disclosure Program (OVDP) - How to Avoid FATCA Tax Compliance Penalties (PART 2) Did you know that if you are a US Tax payer abroad and you’ve never filed U.S. income taxes you may not be compliant with your U.S. tax obligations. Share this video: https://www.youtube.com/watch?v=fjn-KAzTCUw Subscribe to our YouTube channel for news and updates tips on US Tax: http://www.youtube.com/channel/UCgEa_skdgaL32KH1ktXXhOQ?sub_confirmation=1 Visit our website: http://www.USTaxPractice.com Hi, I’m Patrick Evans, founder of US TAX PRACTICE. I’m a US Certified Public Accountant based in Switzerland servicing US Tax payers here and in the rest of Europe and I am in the business of helping fellow US Tax payers with their tax compliance. Did you know that U.S. persons (citizens and green card holders) who are looking to get caught up on their U.S. income tax filings can now take advantage of two “favourable” taxpayer programs? In my previous video I took you through the first programme about Streamlined Filing Compliance Procedures which is intended for persons who unknowingly did not file for US taxes. The second program is the Offshore Voluntary Disclosure Program. This program is intended for U.S. persons who neglected to file U.S. tax filings, report all income, pay full tax liability and submit all required information returns (FBAR’s, FATCA) due to willful conduct and have exposure to potential criminal liability and/or substantial civil penalties. But here is the good news: The Offshore Voluntary Disclosure Program provides protection from criminal liability and fixed terms for resolving their civil tax and penalty obligations. But there are some key Requirements: 1. Cooperate in the voluntary disclosure process 2. Pay 20 percent accuracy-related penalty on the full amount of your offshore-related underpayments of tax for all years 3. Pay failure-to-file and failure-to-pay penalties 4. Pay a miscellaneous offshore penalty equal to 27.5% (or 50% in certain circumstances) of the highest aggregate value of OVDP assets 5. Submit full payment of all penalties or enter a payment arrangement 6. Execute a Closing Agreement on Final Determination Covering Specific Matters 7. Agree to cooperate with the IRS and Department of Justice offshore enforcement efforts You also need to provide the following documents: 1. Payment of tax, interest, all penalties (offshore, accuracy related, failure-to-file, failure-to-pay). Payment arrangements can be made for taxpayers who cannot pay the total amount due 2. Copies of previously filed original (and amended) U.S. federal income tax returns for tax years covered by the voluntary disclosure under the “disclosure period” 3. Complete and accurate amended federal income tax returns (1040x) or original income tax returns (1040) for the disclosure period 4. Completed and signed Offshore Voluntary Disclosure Letter 5. Foreign account or asset statement for each previously undisclosed OVDP asset during the disclosure period 6. Taxpayer account summary with penalty calculation 7. Signed agreements to extend the period of time to assess tax (including penalties) and to assess FBAR penalties 8. Copies of filed FBAR’s (foreign bank account reports) on FinCEN Form 114 9. Copies of statements for all financial accounts reflecting all account activity for each of the tax years covered by your voluntary disclosure. For OVDP assets other than foreign financial accounts, provide all relevant documents pertaining to the asset 10. Statement identifying all foreign entities, whether held directly or indirectly, for the tax years included in the voluntary disclosure, and a statement concerning ownership or control of such entities. If the taxpayer has a Passive Foreign Investment Company (PFIC) involved they should include a statement whether the amended or delinquent returns involve PFIC issues during the tax years covered by the OVDP period, and if so, whether the taxpayer chooses to elect the alternative to the statutory PFIC computation. Qualification: Taxpayers who have undisclosed OVDP assets and meet the requirements of Internal Revenue Manual (IRM) 9.5.11.9 can apply for IRS Criminal Investigation’s Voluntary Disclosure Practice and the OVDP penalty regime. OVDP is only available to address the taxpayer’s own liability and cannot be used for individuals whom facilitated noncompliance of U.S. tax law for others. You can find comprehensive information on the Streamlined Filing Compliance Procedures and Offshore Voluntary Disclosure Program on www.USTaxPractice.com FOLLOW US: Facebook https://www.facebook.com/USTaxPractice Twitter https://twitter.com/US_Tax_Practice Google+ https://plus.google.com/+USTaxPractice LinkedIn http://www.linkedin.com/company/us-tax-practice Call us for a free consultation. +41 (0) 52 533 45 81 US Tax Practice Switzerland Ahornstrasse 1, 8200 Schaffhausen, Switzerland http://www.USTaxPractice.com
IRS Private Debt-Collection Program is 'Indefensible'
 
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Using private debt-collection firms to collect debt from low-income Americans is not only morally reprehensible, but it's also terrible business, says white-collar criminologist Bill Black Visit http://therealnews.com for more stories and help support our work by donating at http://therealnews.com/donate.
Views: 4214 TheRealNews
"IRS Notice 703" IRS Help For Tax Notice 703
 
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Click here: http://www.taxproblem.org/free-irs-advice/ Need help with IRS notice 703? Get valuable free information on IRS letters and notices, on our site! Or call Joe Mastriano Houston TX CPA at 713-774-4467 for professional IRS representation and tax problem solutions. END Notice 703 (Rev. September 2011) - Internal Revenue Service. Read This To See If Your Social Security Benefits May Be Taxable. Read this notice carefully. Notice 703, Read This To See If Your Social Security Benefits May ... Complete the Notice 703 worksheet to see if any of your social security and/or SSI (supplemental security income) benefits may be taxable. Notice 703 (Rev. September 1999) - Internal Revenue Service... Notice 703. Note: If you plan to file a joint income tax return and your spouse also received a Form(s). SSA-1099, add your spouse's amounts to yours on lines A, ... How to figure if you'll owe any federal tax on your SSDI benefits ... You can either read IRS Notice 703, or follow these instructions: Fill in lines A through E below to see if any of your benefits may be taxable for ... On the Notice 703 on the back of SSA-1099 do you include the ... On the Notice 703 on the back of SSA-1099 do you include the SSI+Social Sercurity to determine what's ... What is a CP-05 letter or notice from the IRS? SSA Handbook § 125 -- A worksheet (IRS Notice 703) is included for determining whether any portion of your Social Security benefits received is subject to income tax. irs notice 703... Use the internal revenue service (IRS) Notice 703 shown on the back of the. Notice 703 (Rev. September 2010) Note. If you plan to file a joint income tax return, include your spouse's amounts, if any, on lines A, C, and D below. Read This To See If Your Social ... Form 703—General Information (Renewal of Registration of a ... The secretary of state is not required to send renewal notices to limited ... file an amendment to the registration after it receives its FEIN number from the IRS. Notice 703 (Rev. September 2011) Notice 703. (Rev. September 2011). Internal Revenue Service. Read This To See If Your Social Security Benefits May Be Taxable. Read this notice carefully. Centennial, Chico, El Centro, Fresno, Hanford--Corcoran, Los Angeles--Long Beach--Glendale, Madera, Modesto, Merced, Napa, Santa Clara, Santa Cruz, Shasta, Sierra, Hoover, Dothan, Decatur, Auburn, Ann Arbor, Dearborn, Detroit, Great Falls, Helena, Missoula, Las Vegas, Paradise, Sunrise Manor, Dover, Hudson, Manchester, Merrimack, Charleston, Columbia, North Charleston, Greenville, Rock Hill, Salem, Beaverton, Hillsboro, Pampa, Paris, Pasadena, Pearland, Pecos, Pflugerville, Pharr, Plainview, Plano, Port Arthur, Port Lavaca, Port Neches, Raymondville, Glen Cove, Harrison, Hauppauge, Hempstead, Hicksville, Holbrook, Holtsville, Huntington Station, Irondequoit, Ithaca, Jamestown, Kingston, Kiryas, Elizabeth, Edison, Toms River, Columbia, Saint Joseph, Lee's Summit, Saint Charles, Carson City, Winchester, Warwick, Cranston, Pawtucket, East Providence
Views: 5547 TaxHelpAccountant
Is FERS Disability Retirement Taxable?
 
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Is FERS Disability Retirement Taxable? KNOW MORE ABOUT Is FERS Disability Retirement Taxable? Such benefits are non taxable, and paid for temporary total disability, injuries or medical conditions which result from, disability annuity(p18) if you retired on the annuity receive from csrs fers is taxable as wages until reach minimum retirement age, explained in this section q. Meanwhile, i would like to apply for social security disability [ssdi]. Fers & csrs disability how federal retirement benefits are taxed part i and frequently asked questions opm. Faq on opm disability retirement federal. When an you are a former federal civil service employee who has been found to be disabled by the office of personnel management (opm). Now you will get your. Fers and social security disability benefits help. A federal civil service employee is required to disability retirement benefits are available persons who work in the government as part of their employment benefit package. Seven percent of is $280. Disability retirement payments are normally taxable as ordinary income. The information contained in this publication applies to annuities under both fers and the civil service retirement system (csrs) 19 mar 2008 opm disability. Letter ruling 81 100 u. Use our calculator to figure the amount of your monthly federal income tax withholding. 1) payroll taxes are not taken out of retirement incometherefore, you will not be paying social security tax (6. If you retired under the disability provision, annuity receive from csrs or fers is taxable as wages until reach minimum retirement age use our calculator to figure tax free portion of your payment. The department of labor administers federal worker's compensation benefits through the office workers' programs (owcp). The john's contribution to the csrs retirement and disability fund, is deducted from net pay (after answer yes. One of the common misconceptions i see involves taxation federal retirement benefits. You are receiving a federal disability retirement annuity and request ruling as to the massachusetts income taxation of. For instance, persons who, in addition to meeting opm's standard for disability retirement, are totally and permanently disabled any gainful employment may be eligible a special tax credit opm attorney working federal employees who applying retirement fers is an acronym the system. Information for disability annuitants opm. State income tax laws 28 jan 2016 time is closer than you think. Also i collected my tsp and opm back pay in the same tax year8 dec 2013 much of a federal government worker's csrs or fers pension benefit will be taxable on income return. Then, use services online to change the federal tax withheld from your annuity payment under rules of internal revenue service, employees retirement system (fers) disability is subject income. Government contributory disability eligibility for federal retirement benefits taxation of. Federal employees sometimes forget that their fede
Will The IRS Seize Your Passport?
 
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In this video, the IRS Solution Attorney, Darrin T. Mish explains the new law regarding the IRS Seizure of passports. Don’t sit and wait for your IRS problems to go away; take your first step right now. Call (813) 229-7100 to meet with a Tax Attorney for free, and I’ll show you how you can reclaim your life and put an end to the vicious cycle of IRS debt. Check us out on Facebook: @IRSSolutionAttorney & @DarrinTMish And don't forget to subscribe! Will the IRS seize my passport? My name is Darrin T. Mish, they call me the IRS Solution Attorney. This is a new program that the IRS has come out with, actually, it wasn't the IRS, let's not blame them for a change. It was actually Congress, and I hate this law. I don't know why they did it. It doesn't seem American, it seems Un-American to me. Bottom-line, if you owe the IRS $50,000 or more, and there is a tax lien filed out against you, the state department can, and probably will, revoke your passport and prevent you from traveling internationally. Now, if you're overseas, there is some sort of provision to give you some kind of temporary travel documents so that you can come back home. But, if you're like a lot of my clients, who actually travel for a living internationally, it's going to put you out of business, unless you can work something out with the IRS. It's a relatively new law, I believe it passed in 2015 and it's just been implemented, the implementing regulations have just been passed, and we're going to start seeing this anytime now, where they're actually going to start revoking passports for owing the IRS what they call significant tax debt. The definition is $50,000 or more, and having a tax lien filed. Now, if you don't have $50,000 dollars, I don't think you have any risk. If you don't have a Tax Lien, you're not going to have any risk until the Tax Lien is filed. So here's the answer to your dilemma, if you're worried about this: You need to get to the IRS and you need to come up with some collection alternative before they revoke your passport, if that's super important to you. Collection alternatives can include: An Installment Agreement, An Offer In Compromise (which is where you make a deal to settle for less), or even a Hardship Determination, I believe, will take and prevent that passport revocation from happening. It does not appear at this time that there is any way to argue any kind of hardship, if they actually revoke your passport. Again, the regulations have just come out, and we haven't had time to thoroughly examine them. But the answer is, if you have significant tax debt, or if you're approaching significant tax debt, you know, if you owe $35 or $40,000 dollars, but you know you didn't pay taxes for this year, and you're going to owe a bunch more money, it's time to go seek out a professional who can help you come up with some kind of alternative solution, instead of just waiting for your passport to be revoked, and then you can't travel for business, you won't be able to go and travel out to visit overseas family. It's just going to be a real nightmare for you and I encourage you not to let it get to that point. If you have questions about this or really anything else having to do with the IRS problem resolution, I invite you to visit our website at GetIRSHelp.com, or give us a call at (888) 438-6474, that's (888) GET-MISH.
"IRS Letter Rulings" Need Assistance With IRS Letter Rulings?
 
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Click here: http://www.taxproblem.org/free-irs-advice/ Need help understanding IRS letter rulings? Get valuable free IRS and tax information on our site! Or call Joe Mastriano Houston TX CPA at 713-774-4467 for professional IRS representation and tax problem solutions. END IRS Written Determinations... 25+ items -- Internal Revenue Service United States Department of the Number Subject Determination Letters and Letter Rulings - Internal Revenue Service- IRS and taxpayer agree on treatment of completed transaction prior to ... The Service ordinarily will not issue letter rulings or determination ... Exempt Organizations - Private Letter Rulings and Determination ... The IRS will rule on the tax consequence of proposed changes to an organization's purposes or activities. Thus, if you are unsure about ... Private Letter Rulings - Internal Revenue Service... Internal Revenue Service United States Department of the Treasury Accessibility Skip to Top Navigation Skip to Main ... Private Letter Rulings ... Private Letter Rulings - A Private letter ruling is "[a] written statement issued to the taxpayer by the Internal Revenue Service in which interpretations of the tax law are made and applied ... Private letter ruling - Private letter rulings (PLRs), in the United States, are written decisions by the Internal Revenue Service (IRS) in response to taxpayer requests for guidance. Private Letter Rulings -- A private letter ruling, or PLR, is a written statement issued to a taxpayer that interprets and applies tax laws ... Private Letter Rulings at the IRS ... Private Letter Ruling, IRS and Tax... Private Letter Ruling - Find answers about Private Letter Ruling at..., the first comprehensive IRS Tax Directory on the Web... a list of the IRS Private Letter Rulings and IRS Determination Letters that involve Insurance Companies and Captive Insurance Companies, ... IRS Letter Ruling 200027061... IRA funds acquired from estate of deceased spouse still qualify for non taxable rollover into survivors IRA. Bronx, Brooklyn, Buffalo, Long Island, Manhattan, New York, Queens, Staten Island, North Hempstead, Brookhaven, Oyster Bay, Babylon, Erie, La Porte, Lake Jackson, Lamesa, Lancaster, Laredo, League City, Levelland, Lewisville, Lockhart, Longview, Lubbock, Lufkin, Mansfield, Marshall, Woonsocket, Coventry, Cumberland, West Warwick, Columbia, Saint Joseph, Lee's Summit, Brunswick, Bangor, Lewiston, Portland, South Portland, Watertown, West Babylon, Honolulu, Hilo, Kailua, Kaneohe, Indianapolis, South Bend, Hammond, Shafter, Soledad, Solvang, Buellton, Sonoma, Sonora, South Lake, Taft, Tehachapi, Tracy, Tulare, Turlock, Twentynine Palms, El Centro, Fresno, Hanford, Corcoran, Los Angeles, Long Beach, Glendale, Madera, Modesto, Merced, Napa, Oakland, Fremont, Hayward, Oxnard, Thousand Oaks, Ventura, Redding, Riverside, San Bernardino, Ontario, Sitka, Ketchikan, Knit, Kenai, Lakes, Kodiak, Fall River, Ann Arbor, Dearborn, Detroit, Flint, Grand Rapids, Lansing, Livonia, Sterling Heights, Warren, Clinton, Abilene, Addison, Alamo, Alice, Allen, Alvin, Amarillo, Andrews, Angleton, Arlington, Athens, Austin, Azle, Balch Springs, Bay City, Baytown, Beaumont, Bedford, Beeville, Belton, Big Spring, Bonham, Borger, Brenham, Bryan, Erie, Philadelphia, Pittsburgh
Views: 199 InformationCPATax
Advisory Committee on Tax Exempt and Government Entities 6/8/2016 Hearing
 
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Today the IRS met to discuss the following topics: Employee Plans: Analysis and Recommendations Regarding Changes to the Determination Letter Program Exempt Organizations: Stewards of the Public Trust: Long-Range Planning for the Future of the IRS and the Exempt Community Federal, State and Local Governments: Revised FSLG Trainings and Communicating with Small Local Governments Indian Tribal Governments: Survey of Tribes Regarding IRS Effectiveness with Current Topics of Concerns and Recommendations Tax Exempt Bonds: Recommendations for Continuous Improvement and Enhancing Resources in the Tax Exempt Bond Market
Trump targets IRS rule on churches
 
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(4 May 2017) US President Donald Trump plans to sign an executive order targeting a rarely enforced IRS rule that says religious organizations and other non-profits that endorse political candidates risk losing their tax-exempt status. The order also promises "regulatory relief" for groups with religious objections to the preventive services requirement in the Affordable Care Act. Those requirements include covering birth control and the move could apply to religious groups like the Little Sisters of the Poor, which have moral objections to paying for contraception. Trump will sign the order as he marks the National Day of Prayer at the White House on Thursday. Prior to signing the order he greeted religious leaders from a variety of faiths, including Christianity and Judaism. He also announced his first foreign trip will include stops in Israel, Rome and Saudi Arabia. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/2f7738cffd70993685e238275e51d4b3 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
Views: 152 AP Archive
Raking Away Old 401(k) Determination Letters
 
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For this Sunscreen Moment, plans would be well advised to “rake away” those old IRS approval letters. The information presented in this video is not necessarily all inclusive, does not constitute legal, tax or any other advice, and should not be relied upon without first consulting with appropriate qualified professionals for your individual facts and circumstances. © 2014 WITHUMSMITH+BROWN, PC. All rights reserved. This video may not be copied in whole or part.
Views: 124 Withum
Administrative Sources of Law | Individual Income Tax | Episode 7
 
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Administrative Sources of Law | Individual Income Tax | Episode 7 In this episode we discuss the administrative sources of law provided by the IRS and the Treasury Department. Table of Contents: 00:00 - Introduction 00:49 - Three Adminstrative Laws 01:06 - Treasury Regulations 02:34 - Proposed Regulations 03:16 - Temporary Retulations 04:15 - Where to Find Regulations 04:35 - Reveune Rulings & Procedures 06:07 - Reveune Procedures 06:45 - Letter Rulings 07:48 - Letter Rulings 08:14 - Determination Letters 08:41 - Letter Ruling v. Determination letter 09:39 - General Counsel Memorandum SUBSCRIBE to my channel for up to date information on tax: https://www.youtube.com/channel/UCnVFEz-0pit3T1-UVo52SGQ -------------------- About Mary Black Mary Black is a tax, business, and estate planning attorney in Utah. She has known that she wanted to be a tax attorney since she was 8 years old when she couldn't understand what her family (all tax attorneys) would talk tax around the dinner table. She specializes in tax planning to ensure business and estate planning transactions limit the tax her clients will owe. She has taught Individual Income Tax at Utah Valley University and has worked with former IRS Commissioners on changes to the R&D Tax Credit and Partnership Audit Regulations. About Center For Tax Studies The attorneys at Center for Tax Studies have seen the gambit when it comes to the bad tax planning and preparation. Our mission is to teach students, practitioners, and educators the truth about tax instead of wives tales, or worse, downright lies. -------------------- LEGAL DISCLAIMER This video is intended for informational and educational purposes only and not for the purpose of providing legal advice. You should contact your attorney or CPA to obtain advice with respect to any particular issue or problem. Use of this video or answers to questions in the comment box below is for informational and educational purposes and do not create an attorney-client relationship between Mary Black, Center For Tax Studies, and the user or browser. ATTORNEY ADVERTISING -------------------- Music: www.bensound.com
Benefit Focused Defined Benefit Plans – Steve Savant’s Money, the Name of the Game – Part 5 of 5
 
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Content: Overview: What distinguishes a retirement plan which is Benefit Focused from one that is Lump Sum Focused (such as the traditional split funded insured defined benefit plan?) A Benefit Focused Plan provides no distribution or cash out of the lump sum value of the participant’s monthly retirement benefit. This restriction of no cash out permits the plan: (1) to fund to a more valuable benefit, i.e. a 100% joint and survivor monthly retirement benefit; (2) to provide a death benefit of 100 times the monthly pension until the death of the participant while the surviving spouse continues to receive the participant’s monthly benefit (vs. the traditional split funded plan where the insurance death benefit must end at normal retirement age), and; (3) to protect the value of this benefit from estate tax since there is no distribution of this value (vs. the traditional split funded insured defined benefit with a single life annuity and a cash out at retirement). The fundamental plan provisions of the Benefit Focused Plan, which are backed by IRS letters of determination and include the most recent restatements, are what distinguishes the Benefit Focused Plan from Lump Sum Focused Plan. They include the following: (1) The Benefit Focused Plan provides a completely subsidized 100% joint and survivor monthly annuity. This and a life annuity are the only form of retirement benefit that the Benefit Focused Plan provides. (2) There is no cash out of the participant’s present value of the accrued benefit. There is no lump sum right of the participant to receive a distribution of cash other than as a monthly retirement benefit. This is a major plan provision difference from the Lump Sum Focused Plan which provides a single life monthly annuity and cash out of the value of the accrued benefit. As a result, there is no cash out when a participant terminates or retires. This provision is necessary in order for a plan to fund for a normal form of a 100% joint and survivor annuity. Internal Revenue Code (IRC) Section 415 specifies that if a participant has a cash out option, the participant’s present value is based on the value of a single life annuity. Since a 100% joint and survivor monthly annuity is more valuable, there can be no cash out option to the participant so that he is eligible for the more valuable benefit. (3) The death benefit provision of the Benefit Focused Plan is also different than the Lump Sum Focused Plan. In either plan, in order for a participant to be eligible for a death benefit, it must be incidental (not greater than 100 times the participant’s projected monthly retirement income) to the primary purpose of the plan, which is to provide a monthly retirement income. In the traditional plan, this benefit is available until normal retirement at which time the benefit is terminated. In the Benefit Focused Plan, this incidental death benefit is available to all plan participants whether active (on a pre-retirement basis) or retired (on a post retirement basis). This incidental death benefit continues until the death of the participant. However, this benefit ceases if a participant is terminated. (4) The plan document provides that there is no reduction in the IRC Section 415 (b) benefit limit because of the availability of an incidental death benefit for a plan participant. IRC Section 415 (b) governs the maximum benefit limits available to a plan participant and stipulates that incidental ancillary benefits do not affect the level of the benefit available to a plan participant. (5) These plan provisions are within all the regulatory guidelines and are reinforced by the Pension Protection Act (PPA) and implementing regulations. PPA now requires the enrolled actuary to value both the present value of the retirement benefit and the present value of the incidental death benefit, adding them to determine the total Funding Target. The Benefit Focused Plan, under these new valuation guidelines, now provides a substantially larger deduction than the Lump Sum Focused Plan. This deduction is larger because we are funding to a 100% joint and survivor monthly retirement benefit plus an incidental death benefit continuing to life expectancy of the participant. This contrasts with the Lump Sum Focused Plan with an incidental death benefit ending at normal retirement age. Jodie Dailey is a co-contributor to this press release. Syndicated financial columnist, talk show host and popular platform speaker Steve Savant interviews retirement expert Jodie Dailey. Steve Savant’s Money, the Name of the Game is an hour-long financial talk show for financial professionals distributed online in 5 ten-minute video press releases Monday through Friday through Trans World News 280 media outlets, social media networks and industry portals. (www.lifesizesolutions.com)
Views: 2231 Steve Savant
Funding a Startup with Retirement Cash  Smart or Dumb
 
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When considering funding a startup business with your retirement savings, the first question that comes to mind may be Why? The answer lies more in the people themselves, than the funds. These investors range from retired entrepreneurs who have played it safe throughout their careers and want their shot at their own venture, to retirees who need cash to sustain their lifestyles. Some want to own something, while others like the excitement and the risk involved in being their own boss. In this article, we'll address one of the first and most important steps for any small business: financing. We'll also take a look at what you can do to drum up this retired money. (For background reading, see Start Your Own Small Business.) Getting It Started: Funding Once you know what kind of business you would like to start and have made some plans, the first obstacle you are bound to run up against is funding. It will take a while (possibly a long while) before your business starts turning a profit, so you'll need some money to get things running and keep them running until you can secure a consistent base of customers. There are many ways to fund a small business, but some may be more appropriate for retirees. Let's take a look at some of the options available. Retirement Seed Money Taking cash directly from your retirement savings provides easy and instant access, carries no interest burden and keeps total control in your hands. However, if stealing from your main source of money is distasteful to you, then you might want to consider tapping your investments, severance-package monies, cash from refinancing your mortgage equity, and even your extra IRA and 401(k) plans. (For more on borrowing 401(k) funds, see Borrowing From Your Plan.) This latter category of IRAs and 401(k)s can be accessed tax-free, penalty-free and with no required repayment. This is because this money is considered an investment in your own business. If the loan is properly set up, it will be just like any other investment made with IRA and 401(k) monies. The process involves setting up the startup as a C corporation. This corporate structure has a slate of officers and a board of directors, which meet at least once per year and create recorded meeting minutes and issue shares of stock in the corporation. With a C corporation in place, funds from an existing 401(k) or IRA can be can be rolled over into the retirement plan of the startup C corporation. The retirement plan then invests the funds in the startup C corporation in exchange for shares of stock in the corporation. Although this method is not foolproof, plans of this type have received positive letters of determination from the Internal Revenue Service (IRS). (To learn more, read Common IRA Rollover Mistakes.) This arrangement allows the tax-free dollars in the 401(k) and IRA accounts to be used without tax liability or penalty and delivers significant additional benefits to the business startup. These include: Qu
Views: 14 retirement living
Start a Nonprofit: Filing for 501c3 Tax Exempt Status
 
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SPECIAL NOTE (Sept. 1, 2014): There is now a form 1023EZ. It is shorter than this form (in video), cost less and you get your 501.c.3 quicker. Though you will still need to have all the documents I listed below. Learn more about the 1023EZ at: http://nonprofitally.com/get-your-501c3-fast-tax-exempt-in-weeks This video is an overview of the 501c3 nonprofit 1023 application process. To become a tax deductible nonprofit you need to get 501.c.3 status. To do this you must submit a form 1023 to the IRS. You must also include your nonprofit articles of incorporation and your bylaws. Here are some other important details you should be aware as you start the 501.c.3. process: BEFORE YOU START filling out form 1023, be sure you have: Filed your Articles of Incorporation: http://nonprofitally.com/articles Prepared your Bylaws: http://nonprofitally.com/bylaws Held your First Nonprofit Meeting: http://nonprofitally.com/meeting The IRS is going to ask for some specific details to be documented in you application. So be prepared to spend a few days filling out this form and gathering your resources. YOUR ARTICLES OF INCORPORATION and/or your bylaws should include: A statement of your exempt purpose(s), (such as charitable, religious, educational, and/or scientific purposes) A dissolution clause A conflict of interest clause ALSO, BE PREPARED TO give detailed answers about your*: Compensation of officers, directors, trustees, employees, and independent contractors Past, present, and planned activities Financial revenues and expenses *You may not know all of this information if you are a new nonprofit. An informed best guess is suitable, just be sure to state this in your documentation. OTHER RESOURCES A great book to help with this process is the "Nolo: How to Form a Nonprofit Corporation". This book includes a CD with sample bylaws and articles of incorporation. Learn more about the book at: http://nonprofitally.com/nolo (This is an affiliate link. I only recommend what I use and this book was invaluable. I highly recommend it.) The Nonprofit Ally website has a FREE "How to Start a Nonprofit" section at: http://nonprofitally.com/start-a-nonprofit Good luck. I hope this was helpful.
Views: 106284 Nonprofit Ally
"Appeal Reconsideration" Going Through IRS Reconsideration And Need Appeal Advice?
 
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Click Here: http://www.taxproblem.org/free-irs-advice/ Our firm can help you with your IRS Appeal Reconsideration. Dealing with serious IRS matters? Most situations with the IRS can be resolved successfully with an experienced CPA. Contact Joe Mastriano, CPA and see how we can put our 30+ years of experience to work for you. Call us now! 713-774-4467. END Taxpayer Appeal Rights: When and How to Appeal IRS ActionsYou have the right to appeal any IRS action, determination, decision or ruling. The method and manner of the appeal varies depending on the Letters and Notices Offering an AppealIt informs you of the courses of action to take if you do not agree with the.This letter explains that the IRS's efforts to collect the federal Publication 1660 (6-2011)File Format: PDF/Adobe Acrobat You may appeal many IRS collection actions to the IRS Officeof Appeals (Appeals). The Office of Appeals is separate from and independent of the IRS Tax Topics - Topic 151 Your Appeal RightsThe IRS has an administrative appeals process that works formally with... the proposed adjustments or proposed or taken collection action. Appealing an IRS Action or Texas: Abilene, Addison, Alamo, Alice, Allen, Alvin, Amarillo, Andrews, Angleton, Arlington, Athens, Austin, Azle, Balch Springs, Bay City, Baytown, Beaumont, Bedford, Beeville, Belton, Big Spring, Bonham, Borger, Brenham, Brownfield, Brownsville, Brownwood, Bryan, Burkburnett, Burleson, Canyon, Carrollton, Cedar Hill, Ceder Park, Cleburne, Clute, College Station, Colleyville, Conroe, Converse, Coppell, Copperas Cove, Corinth, Corpus Christi, Corsicana, Dallas, Deer Park, Del Rio, Denison, Denton, Desoto, Dickinson, Donna, Dumas, Duncanville, Eagle Pass, Edinburg, El Campo, El Paso, Ennis, Euless, Farmers Branch, Flower Mound, galleria, southwest houston, north west houston, central houston, Forest hill, Fort Worth, Freeport, Friendswood, Frisco, Gainsville, Galena Park, Galveston, Garland, Gatesville, Georgetown, Grand Prairie, Grapevine, Greenville, Groves, Haltom City, Harker Heights, Harlingen, Henderson, Hereford, Hewitt, Highland Village, Houston, Humble, Huntsville, Hurst, Ingleside, Irving, Jacinto City, Jacksonville, Katy, Keller, Kerrville, Kilgore, Killeen, Kingsville, La Marque, La Porte, Lake Jackson, Lamesa, Lancaster, Laredo, League City, Levelland, Lewisville, Lockhart, Longview, Lubbock, Lufkin, Mansfield, Marshall, McAllen, McKinney, Mercedes, Mesquite, Midland, Mineral Wells, Mission, Missouri, Mount Pleasant, Nacogdoches, Nederland, New Braunfels, North Richland, Odessa, Orange, Palestine, Pampa, Paris, Pasadena, Pearland, Pecos, Pflugerville, Pharr, Plainview, Plano, Port Arthur, Port Lavaca, Port Neches, Raymondville, Richardson, Richmond, Robstown, Rockwall, Roma, Rosenberg, Round Rock, Rowlett, Sachse, Saginaw, San Angelo, San Antonio, San Benito, San Juan, San Marcos, Santa Fe, Schertz, Seabrook, Seagoville, Seguin, Sherman, Snyder, Socorro, South houston, Southlake, Stafford, Stephenville, Sugarland, Sulphur Springs, Sweetwater, Taylor, Temple, Terrell, Texarkana, Texas City, The Colony, The Woodlands, Tyler, Universal City, University Park, Uvalde, Vernon, Victoria, Vidor, Waco, Watauga, Waxahachie, Weatherford, Weslaco, West University Place, White Settlement, Wichita, memorial, museum district, Montrose, morning side place, midtown, meyerland, magnolia grove, magnolia park, Manchester, maple wood, lake Houston, langwood, Larchmont, lazybrook, Lindale park, linkwood, little Saigon, lincoln greens, knollwood village, klein brook, kingwood, Kashmere gardens, inwood forest, independence heights, Harrisburg, Hidden Valley, Highland Village , Hillwood, Houston, Texas, Houston Gardens , Houston Heights, Hunters Glen, Hunters Point, Hunterwood, Heather Glen, Houston, Texas, Herschellwood, Houston, Texas, Garden Oaks , Garden Villas , Genoa Township, Glen Cove , Glenshire , Greenway Plaza, Greenwood, Gulfgate/Pine Valley, Gulfton, Gulfway Terrace, Forrest Lake, Forest West/Pinemont, Binz, Boulevard Oaks, Bay Knoll, Addicks, Acres Homes, Alief, Westchase, Upper Kirby, Southeast Houston, Midtown, Greenspoint, East Downtown, Downtown, Southeast Houston, appeal reconsideration, collection appeal, collection appeal Houston, collection appeal Texas, collection appeals, collection appeals Houston, houston IRS tax appeal, Houston collection appeal, Houston collection appeals, Houston collections appeal, Houston collections appeals,
Mayor and City Council Special Work Session January 27, 2014
 
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1.Ordinance No. 1791, an ordinance to amend the City of Laurel Employee Pension Plan. 2.Ordinance No. 1792, an ordinance to amend the City of Laurel Police Retirement Plan. 3.Ordinance No. 1793, an ordinance to amend the City of Laurel Employee Retirement Plan to provide technical amendments required by the IRS for the 2013 determination letter. 4.Ordinance No. 1794, an ordinance to amend the City of Laurel Police Retirement Plan to provide technical amendments required by the IRS for the 2013 determination letter. 5.Review of the FY2013 Financial Statements -- Lindsey + Associates, LLC.
Views: 2 Laurel TV
What is an IRS “Hardship Status”? ADVANCE TAX RELIEF
 
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If you cannot pay your delinquent taxes because of an economic hardship, the IRS can suspend collection efforts against you. This does not mean your debt is forgiven; just that the IRS will defer collection and not take your wages or bank account. Internal Revenue Service Policy Statement 5-71 permits hardship status on IRS accounts, as follows: If there are limited assets or income but it is determined that levy action would create a hardship, the liability may be reported as currently not collectible. A hardship exists if the levy action prevents the taxpayer from meeting necessary living expenses. In each case a determination must be made as to whether the levy would result in actual hardship, as distinguished from mere inconvenience to the taxpayer. If, after taking all steps in the collection process, it is determined that an account receivable is currently not collectible, it should be so reported in order to remove it from active inventory. Internally within the IRS, hardship aka currently not collectible, is known as a “53” case, for the transaction code the IRS inputs into your account to indicate a suspension of collection activities. The IRS can also settle a hardship case by submission of an offer in compromise rather than have it linger in the system. We are tax relief experts specializing in IRS back tax help, Installment Agreements, tax lien help, wage garnishment release, IRS Offer in Compromises and a whole lot more. Get a free consultation from an experienced tax relief expert today (800)790-8574 or visit our www.advancetaxrelief.com https://plus.google.com/+ADVANCETAXRELIEFLLCHouston ADVANCE TAX RELIEF BBB A+ RATED BUSINESS
Views: 123 Noah Daniels
Trump To Sign Vague Exec Order About Church, State, IRS
 
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President Trump will sign an executive order Thursday to provide “maximum enforcement discretion” to the Internal Revenue Service when enforcing a prohibition on political activity by religious nonprofits. Democrats fear IRS agents will be free to turn a blind eye to religious organizations engaging in politics--both in houses of worship and out. According to Politico, a White House official acknowledged that the executive order would not change current law. Therefore, it’s unclear what substantive effect it will have, if any. Democrats have raised concerns that Trump’s new order could be used to violate a prohibition on political advertising and campaigning by religious nonprofits. But a White House official said, “No one’s suggesting that churches can take out political ads. We don’t expect any legal challenges, we’re not changing the law, we’re not trying to violate the law." http://www.politico.com/story/2017/05/03/trump-to-relax-enforcement-of-political-activity-by-religious-groups-237958 http://www.wochit.com This video was produced by YT Wochit Vote It using http://wochit.com
Views: 45 Wochit Politics
4th Mayor and City Council Meeting January 27, 2014
 
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1.Call to order. 2.Invocation -- Reverend Warren H. Litchfield. 3.Pledge of Allegiance. 4.Roll call. 5.Approval of Minutes of the Third Meeting of January 13, 2014. 6.Report of Mayor and City Council. 7.General Public Hearing. 8.Laurel Towne Centre: Mr. Brian Gibbons 9.Introduction and first public hearing on Ordinance No. 1791, an ordinance to amend the City of Laurel Employee Pension Plan. 10.Introduction and first public hearing on Ordinance No. 1792, an ordinance to amend the City of Laurel Police Retirement Plan. 11.Introduction and first public hearing on Ordinance No. 1793, an ordinance to amend the City of Laurel Employee Retirement Plan to provide technical amendments required by the IRS for the 2013 determination letter. 12.Introduction and first public hearing on Ordinance No. 1794, an ordinance to amend the City of Laurel Police Retirement Plan to provide technical amendments required by the IRS for the 2013 determination letter.
Views: 8 Laurel TV
"IRS Penalty Appeal" Do You Need Help With IRS Penalty Appeals?
 
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http://www.taxproblem.org/penalties-interest Do You Need Help With IRS Penalty Appeals? Contact Joe Mastriano CPA for help or get valuable free information on his website. CALL US AT 713-774-4467 END 1. IRS and State Tax Help - IRS Tax Help Now Top BBB Tax Firm Search Results 1. PENALTY APPEAL - Online Self-Help Tool (START) Apr 12, 2010 -- Before you begin... This tool may be helpful if the following statements apply to you. You received a letter that a failure to file or ... YouTube - IRS Penalty Appeal‏ www.youtube.com/watch?v=P7LOZlSKT0w30 sec - Apr 7, 2009 - Uploaded by joemas2005 IRS Penalty Appeal - Get The Facts and Information an IRS Penalty Appeal From Killer IRS Rep Joe Mastriano, ... 3. More videos for "IRS Penalty Appeal" » The Best Ways to Fight an IRS Tax Bill File Format: PDF/Adobe Acrobat - Quick View Or check the IRS penalty appeal "Online Self-Help. Tool" at the IRS Web site. Type "penalty appeal" into the search box. Better: Ask to meet in person with ... 5. Dealing with the IRS: law, forms, and practice - Google Books Result Business & Economics - 536 pages ... Abatement Procedure Checklist 485 Form 8275 — Disclosure Statement 501 Letter 1277 — IRS Penalty Appeal Determination Letter 503 Sample — Penalty Appeal ... 6. Irs Penalty Appeal Sample Letter - Home Irs Penalty Appeal Sample Letter . addition to examinations, you can appeal many other things, including: Technorati Tags: calculate irs penalties, . ... 7: IRS Penalty Appeal : IRS Penalty Appeal, Bollywood Songs, Hollywood, Movies, Jokes, Funny, Drama, TV, Star Plus, Drama Serial, Romantic, Indian, ... 8. IRS Penalty Calculation | Free Tax Tips Nov 23, 2010 -- ... which doesn't take effect until 2014 — has prompted one north state restaurateur to put his expansion plans on hold. IRS Penalty Appeal ... 9. Irs Penalty Appeal Irs Penalty Appeal on WN Network delivers the latest Videos and Editable pages for News & Events, including Entertainment, Music, Sports, Science and more, ... 10. Best Investment Rates - IRS Penalty Appeal Best Investment Rates - IRS Penalty Appeal - Best Investment Rates - IRS Penalty Appeal. 11. IRS Appeals - Tax Prep and Tax Preparation including Tax News, Tax ... May 15, 2011 -- IRS Penalty Appeal -- Get The Facts and Information an IRS Penalty Appeal From Killer IRS Rep Joe Mastriano, CPA! www.taxproblem.org ... bank levy by IRS collections, bank levys by collections, call from IRS collection officer, call from IRS collections, collection appeal, collection appeal Houston, collection appeal Texas, collection appeals, collection appeals Houston, collection of IRS tax, collection of over due tax, collection of past due tax, collection of past tax, collection of past taxes, currently not collectable, currently not collectible, currently uncollectable, currently uncollectible, Houston collection appeal, Houston collection appeals, Houston IRS collection, Houston IRS collection advice, Houston IRS collection appeal, Houston IRS collection help, Houston IRS collection issue, Houston IRS collection matter, Houston IRS collections, Houston IRS collections help, Houston IRS seizure, Houston IRS seizures, IRS collection, IRS collection advice, IRS collection advice Houston, IRS collection appeal, IRS collection appeal Houston, IRS collection assistance
Views: 495 Joe Mastriano
IRS Form 12257
 
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IRS Form 12257 is a summary of the determination issued by the IRS appeals office and also waives certain rights of a taxpayer. For more tax related information, please click: http://jmtaxlaw.com/
Views: 320 McGuire Law Firm
Does a church have to contact the IRS to start a business?
 
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Monica Stern, CPA, instructs the audience on whether or not a church has to contact the IRS to start a business.
Views: 48 Robert Erven Brown
Tips on Starting a Nonprofit: Form 1023
 
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Most charitable organizations other than churches must submit the Form 1023, the Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, to the IRS and receive a determination letter back to be recognized as exempt. In many cases, completing Form 1023 may be the most difficult part of the process of forming a new charitable nonprofit. In this video, Erin Bradrick, Senior Counsel at NEO Law Group in San Francisco, offers a few tips to consider when filling out the Form 1023.
Views: 1481 NEO Law Group
Auto Industry Pension Task Force Sends Letter to PBGC pn Delphi Pension Details
 
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Congressman Mike Turner, Co-Chair of the Auto Industry Pension Task Force was joined by fellow Task Force members in writing to request that the Pension Benefit Guaranty Corporation (PBGC) provide them with an update on the status of final benefit determinations for the Delphi Salaried pension plan. "As you know, over 20,000 salaried retirees had their hard-earned retirement drastically reduced when the PBGC terminated their pensions in July 2009....For too long, these retirees have withstood undue delays on the part of the PBGC to produce this determination," wrote the lawmakers. Since having their pensions slashed in 2009, the PBGC has not yet produced final benefit determinations for plan participants. Delphi Salaried Retirees are entitled to being informed of final benefit determinations for the benefits they earned.
Views: 120 CongressmanTurner
Health Insurance Vocab - Appeal
 
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Appeal A request for your health insurer or plan to review a decision or a grievance again.
Views: 7282 CLRA Group
Preparing Your Nonprofit's Group Health Plan for the Employer Mandate, September 16, 2014
 
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This past spring, the IRS issued final regulations relating to the employer mandate under the Affordable Care Act. If your nonprofit organization has not done so already, it is time to prepare for 2015. These "play-or-pay" rules come with a series of complicated decisions and potential pitfalls for plan sponsors to consider. Learn how your nonprofit can avoid costly mistakes with proper advance planning. The following topics are covered during this program: • Introduction to the "play-or-pay" rules • Identifying your nonprofit organization’s full-time employees: deciding whether to use the look-back measurement method or the monthly measurement method • Determining whether your nonprofit’s employer-offered coverage is "affordable" and sufficient • Waiting periods: choosing when to offer coverage to newly hired employees • Reporting obligations: how to report offers of coverage and employee enrollment to the federal government and your employees • Interacting with the Exchanges: navigating open enrollment and special enrollment periods • Litigation risks in reducing hours to limit the number of full-time employees and "whistleblower" ‎retaliation issues • Updating your plan documents and preparing for upcoming audit initiatives Learn how your nonprofit can avoid costly mistakes with proper advance planning. DISCLAIMER: The contents of this site, including all articles, opinions, and other postings, are offered for informational purposes only and should not be construed as legal advice. A visit to this site or an exchange of information through this site does not create a client-attorney relationship. You should consult directly with an attorney for individual advice regarding your particular situation. ATTORNEY ADVERTISING.
NC Senate Tax Cut Plan - Sen. Phil Berger Says NC Economy Will Act Favorably
 
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Senate President Pro Tem Phil Berger answers a question on whether further income tax reductions in North Carolina will affect the state's ability to fund critical needs like teacher pay and infrastructure
Views: 16 NC Channel
WHAT IS A NONPROFIT PUBLIC BENEFIT CORPORATION?
 
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THE STERLING FIRM TELEPHONE: (310) 498-2750 EMAIL: INFO@THESTERLINGFIRM.COM WEBSITE: WWW.THESTERLINGFIRM.COM DISCLAIMER: Not legal advice. For informational purposes only. WHAT ARE NONPROFIT PUBLIC BENEFIT CORPORATIONS? A Public Benefit Corporation must be formed for public or charitable purposes and cannot be formed for private gain of any individual. Public benefit purposes include organizations such as childcare centers, shelters for homeless people, community health care clinics, museums, hospitals, schools, performing arts groups, conservation groups, and affordable housing groups. The Public Benefit Corporation is legally restricted in that all its assets must be irrevocably dedicated to charitable, scientific, or educational purposes. In this sense, the nonprofit corporation is owned by the public. No private individual can claim ownership of the corporation. The board of directors and the officers cannot own the corporation’s assets. For this reason, the Public Benefit Corporation cannot distribute dividends to any individual. If the organizers of the Public Benefit Corporation later decide to terminate the corporation, the assets of the Public Benefit Corporation must be transferred to another charity that has the same or similar purpose. The assets remaining after the debts and liabilities are paid must be transferred to another public benefit organization and cannot be transferred to any members of the former corporation or any private individual or any for-profit corporation. The property must be permanently used for charitable purposes. Moreover, a valuable asset to the nonprofit is its intellectual property. It is important that the nonprofit corporation also make the appropriate filings to protect its intellectual property, such as trademarks, service marks, copyrights, and patents. In addition, because the Public Benefit Corporation is formed for charitable purposes, it must register and submit reports with the Attorney General’s Registry of Charitable Trusts. Moreover, Federal tax law requires that charitable organizations make available at their principal place of business the organization’s financial information, including applications for tax exemption, IRS Form 990, IRS Form 990EZ or IRS Form 990PF returns for the past three (3) years, and its IRS determination letter. These copies must also be provided upon written request from any person.
Horse Rescue Burglarized
 
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A horse rescue group is hit by late-night thieves Sunday. The Bostic barn of Paws Ranch Equine Rescue was burglarized sometime after 10 p.m. Sunday night. Thieves took more than $12,000 in saddles, bridles, tack and grooming tools from the nonprofit group, which is taking care of more than a dozen horses right now. Officials told Paws Ranch Director Delores Hanser that there have been a series of break-ins along Wells Church Road over the last month. Hanser's residence is next door to the barn, there are cameras and even an electric fence, but during the rainstorms that swept through Sunday night, thieves were able to evade the cameras by pulling up to a back gate. They left the gate open, allowing horses to break into a feed storage room and eat about $500 in stored feed. But Hanser has about 45 volunteers that work with Paws Ranch, some are kids doing community service or school projects and other at-risk youth come as therapy. Hanser says the volunteers can't ride and the rehabilitation program for her horses - some of which have been starved, sick, neglected of beaten - is on hold, with only two saddles left in the barn. To donate or find out how to get involved: http://www.pawsranch.org/https://www.facebook.com/PawsRanchEquineRescue Monetary donations can be given by going to BBT Paws Ranch Equine Rescue acct. or sent to PRERI PO Box 338 Bostic, NC Online donations can be made on our web site www.pawranch.org , JustGive.org, Networkforgood.org or paypal.com/pawsranchequinerescue In kind Donations for tack, feed or hay can be dropped off at Paws Ranch Equine Rescue or call 800-580-6504 828-447-5899 330 Walls Church Rd Bostic, NC All donations are tax deductible and the public can check out our charity on GuideStar.org, GreatNonporfits, Charity Navigator and or IRS Determination letter and IRS.gov.
Views: 158 WLOS News 13
Donate Old Cars to Charity
 
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for detail tips about how to donate a car please check this info below Tips for Donating a Car to Charity A charity that uses a donated vehicle for transportation or hauling goods obviously benefits directly from such a donation. However, in many cases donated cars will be sold en masse, either by the charity itself or by a dealer to raise funds for the charity. In the case of a dealer, the charity generally receives a flat fee per car, sometimes as little as $45 per car. Listed below are tips for donors who would like to donate a car to charity. Beware that the donor's tax deductions for car donations may be limited to the price at which the charity sold the car. •To receive the maximum tax deduction on your car donation, and to receive the satisfaction that the full value of the car benefits a charitable purpose, give it to a charity that will use the vehicle in its operations or will give it to a person in need. Otherwise, your tax deduction will not be based on the fair market value, but will be limited to the amount of money the charity receives from the sale of your car. If the charity you are donating to does sell the vehicle, ask what percentage of the proceeds they receive. See Car Donations: Taking Taxpayers for a Ride for more. •Ask if the charity accepts car donations directly, without involving a third party. If possible, drive the vehicle to the charity instead of using a towing or pickup service. This will allow the charity to keep the full amount of any proceeds from selling the car. •Make sure the charity is eligible to receive tax deductible contributions. Ask for a copy for your records of the organization’s IRS letter of determination which verifies its tax exempt status. •Be sure that you get a receipt from the charity for your car donation. •Be aware that non-cash donations are one of the most common triggers to an audit by the IRS, so you’ll want to document the value of the car and keep records of it. •If the car is worth more than $500, the donor must complete Section A of IRS Form 8283 and attach it to their tax return. Donors are required to file with his/her tax return a written acknowledgement from the charity. If the charity sells the car, the charity must provide the donor with a certification that the car was sold at "arms length" between unrelated parties and the sale price of the car within 30 days. In this case, the donor's tax deductions will be limited to the total amount the charity sold the car for. If the charity does not sell the car, it must provide the donor with a receipt within 30 days of the contribution. The charity may also be required to provide certification to the donor stating how it plans to use or improve the car and stating that it promises not to sell or transfer the car. Penalties are imposed on charities that provide fraudulent acknowledgements to donors. •If the car is worth $5,000 or more, an independent appraisal is necessary. The donor must also fill out Section B of IRS Form 8283. For cars worth less than $5,000, use the Kelley Blue Book, the Hearst Black Book, or a guide from the National Auto Dealers Association (NADA) to determine the market value. Make sure you use the correct figure for the date, mileage, and condition of your car. Picking the highest figure for your car model and year without taking into account other factors may not pass muster with the IRS. •Take pictures of the car and save receipts for new tires or other upgrades to verify its value. •Remember, it is the donor, not the charity, who is obligated to value the car and who will pay the penalties if an IRS challenge finds your figure inaccurate. direct link http://www.edmunds.com/sell-car/does-charity-car-donation-still-make-sense-under-tougher-irs-rules.html https://www.charitywatch.org/charitywatch-articles/tips-for-donating-a-car-to-charity/42
company has signed a five-year lease for a copier with a six-year us
 
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company has signed a five-year lease for a copier with a six-year useful life. The lease includes the following terms: A purchase price at the end of the lease The 59,000 copier will have a 5500 value at the end of the lease The present value of the minimum lease payments is equal to 91% of the fair market value of the asset The lease does not transfer ownership to the lessee Which personal financial decision will influence the current years federal income tax liability? Choosing whether to buy or lease a personal vehicle Making contributions into a ROTH IRA Making contributions into a 529 college savings plan Choosing to purchase solar panels for a personal residence What is a responsibility of a professional tax preparer? To negotiate a tax refund check issued to the taxpayer To act in good faith by participating in the audit lottery To advise a client upon learning of an error To maintain similar tax liabilities from year to year Which tax law source has the highest authority for the purpose of general tax research? General Counsel Memoranda IRS Revenue Rulings Determination Letter Treasury Department Regulations Which fact influences the decision to create a C corporation? Owners of a corporation have unlimited liability. Corporations are subject to the lowest income tax rates Shareholders in a corporation report corporate income on Schedule C. Corporations provide the potential to raise unlimited investment capital. Which entity can deduct the expense attributable to the production and collection of income in an estate? The administrator of the estate The fiduciary The beneficiary The estate What is true about the tax treatment of trust income? Trust income is taxable to the trust. Trust income is exempt from taxes. Trust income is taxed under corporate tax rates. Trust income is taxable to the beneficiary. What is true about the alternative minimum tax? It sets a limit on the tax benefits an individual may claim. It provides options for tax liability calc
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2016 Retirement Plan Regulatory Update
 
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Led by Bonnie Treichel, JD, this update for plan sponsors will take a glance at initiatives from the DOL and Internal Revenue Service (“IRS”) over the past 12 months and the impact these rules and regulations have on your role as a plan sponsor and the plans with which you work. In addition, this webinar will focus on those items that remain on the agendas of the DOL and IRS, which are likely to be forthcoming rules and regulations in the next year and beyond. Throughout the webinar, Ms. Treichel will offer action items and practical pointers for plan sponsors, concluding with a question-and-answer session to facilitate further dialog around these issues.
Tuition Free Training Starting a Nonprofit Organization_Intro
 
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To the view the full recorded webinar create an account on www.KerretvOnline.com Course Description: Once you have a focused organization and a plan in place, you may be ready to start a 501 (c) (3). This course will guide attendees through the process of establishing a board of directors, incorporating as a not-for-profit organization, creating bylaws, holding organizational meetings, and much more. Course Objectives: After this course attendees will be able to: · Describe the process of starting a 501 (c) (3); · Utilize best practices to form a board of directors; · Adopt bylaws, goals, and a budget; · Create a records book and filing system; · Apply for 501 (c) (3) status using IRS Form 1023.
Tips for Donating a Car to Charity
 
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A charity that uses a donated vehicle for transportation or hauling goods obviously benefits directly from such a donation. However, in many cases donated cars will be sold en masse, either by the charity itself or by a dealer to raise funds for the charity. In the case of a dealer, the charity generally receives a flat fee per car, sometimes as little as $45 per car. Listed below are tips for donors who would like to donate a car to charity. Beware that the donor's tax deductions for car donations may be limited to the price at which the charity sold the car. To receive the maximum tax deduction on your car donation, and to receive the satisfaction that the full value of the car benefits a charitable purpose, give it to a charity that will use the vehicle in its operations or will give it to a person in need. Otherwise, your tax deduction will not be based on the fair market value, but will be limited to the amount of money the charity receives from the sale of your car. If the charity you are donating to does sell the vehicle, ask what percentage of the proceeds they receive. See Car Donations: Taking Taxpayers for a Ride for more. Ask if the charity accepts car donations directly, without involving a third party. If possible, drive the vehicle to the charity instead of using a towing or pickup service. This will allow the charity to keep the full amount of any proceeds from selling the car. Make sure the charity is eligible to receive tax deductible contributions. Ask for a copy for your records of the organization’s IRS letter of determination which verifies its tax exempt status. Be sure that you get a receipt from the charity for your car donation. Be aware that non-cash donations are one of the most common triggers to an audit by the IRS, so you’ll want to document the value of the car and keep records of it. If the car is worth more than $500, the donor must complete Section A of IRS Form 8283 and attach it to their tax return. Donors are required to file with his/her tax return a written acknowledgement from the charity. If the charity sells the car, the charity must provide the donor with a certification that the car was sold at "arms length" between unrelated parties and the sale price of the car within 30 days. In this case, the donor's tax deductions will be limited to the total amount the charity sold the car for. If the charity does not sell the car, it must provide the donor with a receipt within 30 days of the contribution. The charity may also be required to provide certification to the donor stating how it plans to use or improve the car and stating that it promises not to sell or transfer the car. Penalties are imposed on charities that provide fraudulent acknowledgements to donors. If the car is worth $5,000 or more, an independent appraisal is necessary. The donor must also fill out Section B of IRS Form 8283. For cars worth less than $5,000, use the Kelley Blue Book, the Hearst Black Book, or a guide from the National Auto Dealers Association (NADA) to determine the market value. Make sure you use the correct figure for the date, mileage, and condition of your car. Picking the highest figure for your car model and year without taking into account other factors may not pass muster with the IRS. Take pictures of the car and save receipts for new tires or other upgrades to verify its value. Remember, it is the donor, not the charity, who is obligated to value the car and who will pay the penalties if an IRS challenge finds your figure inaccurate. Source:https://www.charitywatch.org/charitywatch-articles/tips-for-donating-a-car-to-charity/42 Similar topics: Donating a Car to Charity Tips for Donating a Car to Charity Get free auto insurance quotes online 2014 Free auto insurance quotes online comparison 2014 Auto insurance quotes online Best insurance quotes for young drivers Cheap insurance for new drivers Auto insurance quotes florida Cheap auto insurance quotes Auto insurance quote Compare auto insurance quotes Online auto insurance quotes How to get cheap auto insurance How to get cheap car insurance for young drivers How to get cheap car insurance tips How to get free insurance Free insurance quotes for new drivers Get multiple auto insurance quotes online 2014
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Completing the IT'S Form 1023
 
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Legalizing your nonprofit
Views: 85 Dwanda Farmer
Appeals Process: Collection Issues
 
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Considering appealing a collection action? Get to know the Office of Appeals. And for even more information, go to www.irs.gov/appeals or download Publications 594 and 1660 from www.irs.gov.
Views: 7259 IRSvideos
Hands-on 501C3 Formation
 
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3-hour workshop on how to apply for tax exempt status under IRS section 501C3.
Views: 214 Sam Harrell
How to study economics for UPSC - Vandana Garg, IAS
 
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This lesson will provide you guidance on how to study Economics for UPSC - the syllabus, sources, how to make notes and importance of economics for UPSC exam.
Views: 222 Coursavy
Employee vs. Independent Contractor - A classification you do not want to get wrong.
 
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This video covers the primary factors that determine if a worker is classified as an employee or an independent contractor and what you can do to help protect yourself from costly taxes and penalties for getting this wrong.
Views: 20126 OlinBusinessSolution
Retirement Plans: Managing Your Fiduciary Responsibility (Webinar)
 
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http://www.securedocs.com - Devyn Duex, VP of Client Services at Pensionmark Retirement Group, shares how to manage your fiduciary responsibility. Devyn covers: plan governance, understanding and determining reasonableness in fee disclosure, geting your plan participants retirement ready, and preparing for 401K, IRS, and DOL (Department of Labor) audits.
Views: 227 appfolio