Tax

Category: Uncategorized

  • Form 2439

    Form 2439 IRS Tax Form 2439 Notice to Shareholder of Undistributed Long-Term Capital Gains Instructions for reporting Box 1a. This amount is your total undistributed long-term capital gain from your regulated investment company (RIC) or real estate investment trust (REIT). Report the total amount as a long-term gain on the appropriate Schedule D. For example,…

  • Looseleaf Services

    Tax Looseleaf Services Using Tax Looseleaf Services CCH Standard Federal Tax Reporter (SFTR) When using the SFTR be sure to use the most recent volumes available, in this case the 2004 volumes. The SFTR is a 25-volume looseleaf service arranged by IRC section. All the entries also have assigned paragraph numbers. An entry in a…

  • Form 1041

    Form 1041 The term “fiduciary” applies to a person(s) who occupies a position of special confidence toward another, who holds in trust property in which another person has the beneficial title or interest, or who receives and controls the income of another. Thus, trustees and executors are considered fiduciaries. A fiduciary must file a return…

  • International Students

    International Students International Students: Understanding U.S. Taxes International students, researchers and faculty members at Schools and Universities should be aware of their U.S. income tax obligations. United States tax laws distinguish between residents and non-residents for U.S. tax purposes. Non-residents only pay taxes on U.S. source income, while residents follow the same tax rules as…

  • Notices

    Notices Overview A notice is a public pronouncement that may contain guidance that involves substantive interpretations of the Internal Revenue Code or other provisions of the law. For example, notices can be used to relate what regulations will say in situations where the regulations may not be published in the immediate future. “The IRS issues…

  • News Releases

    News Releases Overview IRS News Releases consist of Information Releases as well as Fact Sheets, both issued by the IRS. Information Releases are news releases from the IRS. They are numbered sequentially by year, and will always start with “IR-YYYY-” where YYYY is the year of the release. News Releases are issued by the IRS…

  • Unrecaptured Section 1250 Gain

    Unrecaptured Section 1250 Gain When a depreciable asset is sold, the depreciation that has been allowed or allowable may be subject to recapture. When depreciation is recaptured, some or all of the taxable gain from the sale is taxed at ordinary income tax rates instead of the more favorable capital gain rates. For depreciable real…

  • Abbreviations

    Tax Abbreviations Search for legal acronyms and/or abbreviations containing Tax in the legal abbreviations platform of the Encyclopedia of Law. Maybe may be of interest a list of Abbreviations of Law Journals and Reviews and a short list of Law Journals and other legal publications Abbreviations. IRS Tax Abbreviations Here are a list of Abbreviations…

  • IRS Written Determinations

    IRS Written Determinations Overview In general, there are three types of IRS written determinations: Private Letter Rulings (PLR) – Taxpayer-specific rulings or determinations are written memoranda furnished by the IRS National Office in response to requests by taxpayers under published annual guidelines. See Rev. Proc. 2008-1 and Rev. Proc. 2008-4 for more information about these…

  • Income Tax Treaties

    Income Tax Treaties Signed Treaties The most up-to-date information is on the IRS website. See the following IRS list for tax treaties, alphabetical by country: A Armenia Australia Austria Azerbaijan   B Bangladesh Barbados Belarus Belgium Bulgaria   C Canada China Cyprus Czech Republic   D Denmark   E Egypt Estonia   F Finland France…