Category: Taxation

FBAR and Form 8938 Comparison

Form 8938, Statement of Specified Foreign Financial Assets Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR) Who Must File? Specified individuals, which include U.S citizens, resident aliens, and certain non-resident...

Higher Education Tax Benefits

Tax credits, deductions and savings plans available to taxpayers to assist with the expense of higher education. A tax credit reduces the amount of income tax you may have to pay. A deduction reduces...

2012 Tax Scams

IRS issued its annual “Dirty Dozen” ranking of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer...

Travel, Entertainment, Gift, and Car Expenses

Publication 463 – Introductory Material What’s New Reminder Introduction Users of employer-provided vehicles. Volunteers. Ordering forms and publications. Tax questions. Useful Items – You may want to see: 1.   Travel Traveling Away From...

EFTPS – The Electronic Federal Tax Payment System

The Electronic Federal Tax Payment System (EFTPS) is a free service from the U.S. Department of the Treasury. Since it began in 1996, millions of businesses, individuals, federal agencies, tax professionals, and payroll services...

IRS Power of Attorney – Form 2848

FORM 2848 If your organization will be represented by a third party, whether in person or by correspondence, you must file a power of attorney specifically authorizing the individual to represent your organization. Form...