http://bradstreettaxblog.com Timely, relevant bursts of tax nuggets Wed, 01 Sep 2010 12:10:34 +0000 http://backend.userland.com/rss092 en Going Electronic in 2011 Consistent with a Financial Management Service initiative announced in April, 2010, the IRS has issued proposed regulations to significantly increase the number of electronic transactions between taxpayers and the federal government. These proposed regulations would eliminate the use of coupons to make tax payments. Instead, ... http://bradstreettaxblog.com/?p=256 If you need to file a Form 1065 (partnership return), Form 1120S (S corporation return) or Form 1041 (fiduciary return) the deadline to file your 2009 return is September 15, 2010.  This assumes you had filed for an extension prior to April 15, 2010. The IRS shortened the extension period for ... http://bradstreettaxblog.com/?p=253 A couple had prepared their own tax returns for several years using a popular tax preparation software product.  The wife reported expenses for her real estate business and unrelated losses on a Schedule C.  Most of these deductions were inaccurately reported.  Adjustments to this schedule resulted in most of the ... http://bradstreettaxblog.com/?p=249 As you near retirement... Inquiring minds need to know! With the Baby Boomer generation (born between 1946 and 1964) coming into the age of retirement, many wonder about their Social Security benefits.  Some of the questions that may arise include: What is my full retirement age? For those born in 1937 and ... http://bradstreettaxblog.com/?p=246 Examining Investment Alternatives - US Obligations and Municipal Bonds Editors note: Before we dig into this week's TTW, I want to acknowledge the 52nd tip - or a full year of Bradstreet's Tax Tip of the Week! To those who have been with us from the beginning - ... http://bradstreettaxblog.com/?p=243 Starting a new business can be an unbelievably exciting time!  Unfortunately, due to various governmental agency compliance issues, it can be an overwhelming undertaking. The statistics don’t lie. Most new businesses will not make it past their first year. The big question is why? In most cases, it is ... http://bradstreettaxblog.com/?p=239 Background: One of the biggest reasons that the federal gift tax law exists is to keep taxpayers from avoiding federal estate tax by giving away their money or assets during their lifetime. The gift tax is often misunderstood since it is not the recipient that owes the tax ... http://bradstreettaxblog.com/?p=235 This week we will look at provisions of the Healthcare Bill that take effect in 2013 – 2018. Looking this far ahead is unpredictable.  Who knows how many changes may take place within Congress and the Federal Administration during this time period--or how the winds of politics may shift.  However, ... http://bradstreettaxblog.com/?p=230 1099 Nightmare On page 737 of the Healthcare Bill is a three-paragraph section that has nothing to do with hospitals, doctors, drugs or health insurance.  Starting January 1, 2012 all business entities will be required to issue 1099s to all individuals and business with which they spend ... http://bradstreettaxblog.com/?p=227 Last week we looked at the changes this bill created for 2010.  This week we highlight the changes for 2011 and 2012. 2011 Highlights A new national employee-funded long-term care benefit known as the “Community Living Assistance Services and Supports Act” (CLASS Act).  Estimated monthly premium of $120 for a $50/day benefit The ... http://bradstreettaxblog.com/?p=223