Source: http://thorgoodlaw.com/2017/04/
Timestamp: 2017-05-24 02:21:44
Document Index: 500685587

Matched Legal Cases: ['art 2', 'art 2', 'art 1', 'art 1', '§ 179', '§ 6501']

April, 2017 | FREE Yourself from IRS Problems
The IRS Releases 2017 Inflation AdjustmentsPublished April 28, 2017 | By admin	Now that we’re well into the New Year, taxpayers should know 2017’s inflation adjustments for several tax provisions set forth in Rev. Proc. 2016-55. These adjustments apply to tax years beginning in 2017 and transactions or events occurring during the 2017 calendar year. Many affect estate planners and expatriates.
This is a preview of The IRS Releases 2017 Inflation Adjustments. Read the full post (545 words, 1 image, estimated 2:11 mins reading time)	Posted in Alternative Minimum Tax (AMT), Estate Tax, Gift Tax, Income Tax, Internal Revenue Service, Tax News | Tagged alternative minimum tax, estate planning, expatriates, gifts, taxable income threshold | Leave a comment	How Will The Trump Tax Plan Affect You?Published April 26, 2017 | By admin	How will incoming President Donald Trump’s tax plan affect individual and corporate taxpayers alike? Trump has promised on several occasions that his new tax scheme will help most individual, business and corporate taxpayers save taxes. Some of the plan’s provisions will lower the business tax rate from 35 percent to 15 percent. He says that he will reduce the seven individual tax brackets that are currently used to only three. His plan adapts the current rates for qualified capital gains and dividends to these three new brackets. Also of significance is that the new tax plan will eliminate the net investment income tax and the individual and corporate alternative minimum taxes.
This is a preview of How Will The Trump Tax Plan Affect You?. Read the full post (494 words, 1 image, estimated 1:59 mins reading time)	Posted in Donald J. Trump | Tagged adjusted gross income, head of household filing status, net investment income tax, personal exemption, qualified capital dividends, qualified capital gains, standard deduction | Leave a comment	Trump Will Kill The Estate Tax – Why Does This Matter To You?Published April 24, 2017 | By admin	Donald Trump has promised to repeal the estate tax. Why does this matter? Well, it really may not matter…for that matter. For the few taxpayers who expect to pay the estate tax, they no longer will have to create tax-exempt organizations to eliminate large sources of tax revenue. For the remainder, it really won’t matter. What will matter is what type of tax rules and regulations replace it.
This is a preview of Trump Will Kill The Estate Tax – Why Does This Matter To You?. Read the full post (370 words, 1 image, estimated 1:29 mins reading time)	Posted in Donald J. Trump, Estate Tax, Gift Tax | Tagged estate and gift tax exemption, estate tax, stepped-up basis | Leave a comment	Trump’s Tax Plan Then And Now, Part 2Published April 21, 2017 | By admin	Every American taxpayer is waiting to see what specific tax plan Donald Trump will implement as President of the United States. The first part of this blog addressed the differences between Trump’s 2015 proposed tax plan and his current 2016 tax plan. While there are differences, there are, of course, the constants in Trump’s tax proposals, which demonstrate the tax policies that Trump has emphasized as important from the beginning of his presidential candidacy.
This is a preview of Trump’s Tax Plan Then And Now, Part 2. Read the full post (525 words, 1 image, estimated 2:06 mins reading time)	Posted in Alternative Minimum Tax (AMT), Business Expenses, Child and Dependent Care Credit, Child Tax Credit, Depreciation, Donald J. Trump, Estate Tax, Interest Income | Tagged alternative minimum tax, business expenses, carried interest, child and dependent care expenses, depreciation, estate tax, interest expenses, repatriation tax | Leave a comment	Trump’s Tax Plan Then And Now, Part 1Published April 19, 2017 | By admin	What specific tax plan will Donald Trump implement as President of the United States? Trump’s initial plan released in September 2015, set forth four tax brackets of 0%, 10%, 20% and 25%. In October, just prior to the election, he released a new plan that adopted the House Republicans’ approach using three tax brackets, 12%, 25% and 33%. Either plan seems to adopt aspects of the tax reform pursued by House Republicans, as the president-elect moves closer to the Republicans’ tax agenda. Here’s a look at Trump’s tax plan then and now.
This is a preview of Trump’s Tax Plan Then And Now, Part 1. Read the full post (488 words, 1 image, estimated 1:57 mins reading time)	Posted in Alternative Minimum Tax (AMT), Capital Gains, Charitable Contributions, Corporate Tax, Income Tax, Investment-Related Deductions | Tagged alternative minimum tax, capital gains, carried interest, charitable contributions, corporate income tax, dividends, flat tax, individual income tax, investment income tax rate, itemized deductions, mortgage interest, pass-through income, standard deduction, tax bracket, tax reform | Leave a comment	When Do I Need An ITIN?Published April 17, 2017 | By admin	An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service. It is a nine-digit number that always begins with the number 9 and has a range of 70-88 in the fourth and fifth digit. Any individual who has tax filing or payment obligations under U.S. law but is not eligible for a Social Security Number (“SSN”) typically uses an Individual Taxpayer Identification Number.
This is a preview of When Do I Need An ITIN?. Read the full post (438 words, 1 image, estimated 1:45 mins reading time)	Posted in ITIN, Resident Aliens | Tagged Individual Taxpayer Identification Number (ITIN), nonresident alien, resident alien | Leave a comment	IRS Announces 2017 Standard Mileage Rates for Business, Medical and MovingPublished April 14, 2017 | By admin	Taxpayers should know the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. The standard mileage rate for business is based on an annual study of both fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based solely on the variable costs.
This is a preview of IRS Announces 2017 Standard Mileage Rates for Business, Medical and Moving. Read the full post (291 words, 1 image, estimated 1:10 mins reading time)	Posted in Business Expenses, Medical Expenses, Moving Expenses | Tagged § 179 deduction, Modified Accelerated Cost Recovery System (MACRS), standard business rate, standard medical rate, standard mileage rate, standard moving rate | Leave a comment	Tax Professionals Provide Input For IRS Future StatePublished April 12, 2017 | By admin	At the end of 2016, as part of a concerted, continuous effort to gather feedback from the tax community and partner groups, the Internal Revenue Service announced that tax professionals attending the Nationwide Tax Forums provided valuable guidance to Future State efforts to improve taxpayer service by highlighting a number of areas of concern.
This is a preview of Tax Professionals Provide Input For IRS Future State. Read the full post (526 words, 1 image, estimated 2:06 mins reading time)	Posted in Internal Revenue Service, Tax News, THORGOOD Law Firm | Tagged Future State, IRS Tax Forum, tax attorney, tax professional | Leave a comment	IRS Declines To Extend Time To Make Late Success-Based Fee ElectionsPublished April 10, 2017 | By admin	Recently, the IRS Office of Chief Counsel held, in a private letter ruling, that it could not grant a taxpayer’s request for an extension of time to file a safe harbor election under Rev. Proc. 2011-29. This election is related to the treatment of success-based fees incurred in the process of pursuing certain transactions. Under the safe harbor election described in Rev. Proc. 2011-29, the election must be made on an original tax return. The election applies to covered transactions under Treas. Reg. Sec. 1.263(a)-5(e)(3).
This is a preview of IRS Declines To Extend Time To Make Late Success-Based Fee Elections. Read the full post (554 words, 1 image, estimated 2:13 mins reading time)	Posted in Safe Harbor Election, Success-Based Fee Elections | Tagged Form 872, I.R.C. § 6501, net operating loss (NOL), Rev. Proc. 2011-29, safe harbor election, success-based fees, Treas. Reg. Sec. 1.263(a)-5(e)(3), Treas. Reg. Sec. 301.9100-1 | Leave a comment	Beware Of These Recent Tax ScamsPublished April 7, 2017 | By admin	The tax season means a new chance for criminals to place new fraudulent schemes into operation to commit identity theft and refund fraud. As tax professionals, the Thorgood Law Firm has an ongoing commitment to maintaining vigilance for such illegal practices and protecting the sensitive, personal data of our clients.
This is a preview of Beware Of These Recent Tax Scams. Read the full post (612 words, 1 image, estimated 2:27 mins reading time)	Posted in Identity Theft, Tax Fraud, Tax Refunds, Tax Scams | Tagged identity theft, refund fraud, tax scam | Leave a comment	← Older posts