The Tax Questions Blog

Archive for October, 2008

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Question: It the accrued interest taxable in current year?

I have a promissory note from a relative that promises to pay accrued interest from an estate ( the person is still living) , To keep peace in the family I agreed to it. Cash is tight and I do not wish to pay income tax on money I do not have and might never see.

Answer: All debt obligations bearing interest even if it doe's not make annual payments including private notes made after 1990 are required to report accrued interest on the annual anniversary date every year. If you end up having a loss on this investment the whole amount of the loss can be carried back three years or carried forward ten years.

How to Pay Zero Taxes 2013: Your Guide to Every Tax Break the IRS Allows $11.08 Hundreds of DEDUCTIONS, CREDITS, and EXEMPTIONS--updated for 2013! Fully updated for the new tax year, How to Pay Zero Taxes 2013 reveals all the secrets for keeping as much of your money as the law allows. How to Pay Zero Taxes 2013 lays out simple strategies that are sure to save you money--this year, next year, and beyond. From converting personal expenses into business deductions to avoiding--...

Practical Guide to Real Estate Taxation (Fifth Edition) (Practical Guides) $114.99 Practical Guide to Real Estate Taxation is CCH's highly successful practical guide to the federal tax consequences of real estate ownership, operations and activities. This updated Fifth Edition is the most accessible and affordable reference available for all tax, real estate and investment professionals who need to know the tax ramifications and underpinnings of real estate investment. Recent re...

Principles of Business Taxation (2013) $103.99 The CCH Principles of Business Taxation course approaches the study of taxation from the perspective of the student who will become a business person faced with business decisions that are inevitably affected by tax considerations. This perspective leads to a very different coverage in this textbook -- coverage that is useful for accounting, finance and general business majors. The new edition foc...

Springfield City Council poised to close police-fire pension to new hires

City leaders on Tuesday outlined a plan that -- pending the City Council's approval Monday -- will officially close Springfield's police-fire pension plan to new hires and allow employees in the Tier II plan to move to the state LAGERS system.

Do tax havens divert economic activity? [An article from: Economics Letters] $4.95 This digital document is a journal article from Economics Letters, published by Elsevier in . The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.Description: When multinational firms expand their operations in tax havens, do they divert activity from non-havens? Much of the debate on tax competi...

Missbrauchsverhinderungsnormen und Standortwahl: Eine rechtsvergleichende und modelltheoretische Analyse des Einflusses von CFC-Regeln und Unterkapitalisierungsregeln (German Edition) $55.41 Alexander Linn analysiert den Einfluss bestimmter allgemeiner und spezieller Normen gegen Steuerumgehungsversuche auf die Standortentscheidung einer Unternehmung und ihre Wirkung auf den Steuerwettbewerb. Am Beispiel der Einschränkungen, die die verschiedenen Missbrauchsverhinderungsnormen für die Einsatzmöglichkeiten einer Finanzierungsgesellschaft darstellen, wird deutlich wie sich diese Norm...

Milton Friedman - Free to Choose 1990 - 1 of 5 The Power of the Market PL 3/5

Question: Buyer in Canada claims didn't receive item,filed Paypal claim against me but I have tracking info as proof.

I sold an item on eBay to a buyer in Canada and they claim they never received the item. I have a tracking number and when I check it, it tells me that they attempted to deliver the package. I didn't receive the package back and I don't know if the buyer picked it up from their local post office or not. I contacted USPS and was told that they don't know what could have happened to the package because it was transferred to Canada Post (other private company not associated with them). So now the buyer filed a dispute against me but I provided proof of shipping and after I escalated it to a claim, the buyer never responded after that and didn't meet his deadline, however the case is now again "under review". I have never been in this situation before and did everything right on my part, so will PayPal side with me or the buyer and how long would it take, given the details above, for this to be over? Thanks.

Answer: I had a similar situation a few years back with an eBay purchase going to Toronto. I had never dealt with international shipping before this. The buyer filed a claim and I sent the proof of shipping/insurance. It went through their review system and the money was given back to the buyer (taken from my account). They claimed that my shipping info was not proof of anything since it went across an international border. As it turned out, the package was held up in customs for additional charges and the buyer did receive it several months later. Lucky for me at the time that he was honest. When it was finally delivered, he mailed the refund back to me. Based on that personal experience not just from international shipping, but how eBay deals, I wont send anything outside of the USA anymore and my ads say so. The only thing I can hope in your case is that it is being held up in customs. Best of luck to you and I hope this is useful

How to Get Credit After Filing Bankruptcy: The Complete Guide to Getting and Keeping Your Credit Under Control $12.47 According to the United States Bankruptcy Courts, the number of bankruptcies filed each year is on the rise. People file bankruptcy for a variety of reasons, such as preventing foreclosure on their homes, preventing repossession of property, loss of employment, or reducing or eliminating debts. The most common types of bankruptcy for which individuals file are Chapter 7 and Chapter 13. Chapter 7 i...

Electronic Redacted Section 10(j) Manual $47.99 This Manual has been prepared by the General Counsel of the National Labor Relations Board pursuant to his authority under Section 3(d) of the Act. It is designed only to provide operational and procedural guidance for the Agency’s staff in administering the National Labor Relations Act. Subjects covered include – Identifying potential 10(j) cases; Notice to Parties and expedition of cases; In...

Your Handbook of Everyday Law: Fifth Edition $3.49 A concise and down-to-earth handbook containing everything a citizen needs to know about the law....

Veterans cite lack of assistance

CORPUS CHRISTI —Ninfa Salazar spent more than a year untangling government red tape to secure medical benefits for her father, a World War II veteran. All she needed was proof he had served — paperwork lost in a fire decades ago, easy to replace, she thought.Early on, she went to the taxpayer-funded county veterans services office for help. She was told to call an office she already had ...

Internet Censorship: New Law To Restrict Online File Sharing

Question: moneycontrol.com?

I build house with HBA IN 1989.Can I trasfer property to my wife or have to sell & buy new property in my wife name,long term gain is adjusted.as you said in court judgement.HRA will not be taxable

Answer: Your question has no clear details. Please add details or ask a new question with clear details like what you want actually. I do not think any body can answer your question in full.

Mandated Benefits Compliance Guide, 2010 Edition $225.00 Mandated Benefits Compliance Guide, 2010 Edition is a comprehensive and practical reference manual covering key federal regulatory issues that must be addressed by human resources managers, benefits specialists, and company executives in all industries. Mandated Benefits Compliance Guide helps take the guesswork out of managing employee benefits and human resources by clearly and concisely desc...

Mandated Benefits Compliance Guide 2009 $50.00 Mandated Benefits Compliance Guide, 2009 Edition is a comprehensive and practical reference manual covering key federal regulatory issues that must be addressed by human resources managers, benefits specialists, and company executives in all industries. Mandated Benefits Compliance Guide helps take the guesswork out of managing employee benefits and human resources by clearly and co...

U.S. Master Accounting Guide (2008) (U.S. Master Guides) $99.00 CCH's U.S. Master Accounting Guide distills key accounting, business, legal and financial information into a convenient, handy and affordable package for the accountant's fingertip reference. Hundreds of updates are reflected across the broad coverage areas in the 2007 Edition including critical tax developments, accounting standards changes, financial developments, and much more affecting every c...

FAQs on revised code

Under the direct taxes code (DTC) regime, what happens if a salaried employee withdraws money from his/her approved Provident Fund (PF)/Superannuation fund (SF) /Gratuity and other retrial benefit schemes? How will the DTC affect pension plans?

IRS whistleblower program evaluated.: An article from: The Tax Adviser $9.95 This digital document is an article from The Tax Adviser, published by American Institute of CPA's on January 1, 2010. The length of the article is 812 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: IRS whistleblower program evalu...

The Rich Snitch-Volume 1- Making Money with the IRS How to make money by reporting IRS tax evasion and fraud, with an in-depth examination of one of the most common tax fraud scams perpetrated by Virtual Call Centers. ...

Whistling dixie about the IRS whistleblower program thanks to the IRC confidentiality restrictions.: An article from: Virginia Tax Review $9.95 This digital document is an article from Virginia Tax Review, published by Virginia Tax Review on January 1, 2010. The length of the article is 27169 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.Citation DetailsTitle: Whistling dixie about the IRS whi...

SEC chief wants to catch scammers in the act

When it comes to securities fraud, 2009 was either the best of times or the worst. Both arguments are made in the statistics.

America Freedom to Fascism 10-11 Aaron Russo