Blog Detail
Rubin on Tax
http://rubinontax.blogspot.com
Federal and Florida tax, probate, and estate planning current events, issues and cases
- Added on: Sep 12th, 2005
- Country: United States
- Language: English
- Author: crubin
- Listed in: Law & Legal Business Personal
- Tags: rates withholding taxes exempt organizations disregarded entities ad valorem taxes estate tax; returns
Recent Posts
IRS REFUSES TO GIVE UP ON OVERSTATED BASIS STATUTE OF LIMITATIONS ISSUES
We have previously reviewed two cases that have held that a reduction in gain arising from an erroneous overstated tax basis in an asset is NOT an omission from gross income that can give rise to an extended six year statute of limitations for gross ...
INTEREST RATES FOR TAX OVERPAYMENTS AND UNDERPAYMENTS (JANUARY 2010 QUARTER)
The IRS has announced the interest rates for tax overpayments and underpayments for the calendar quarter beginning January 1, 2010. For noncorporate taxpayers, the rate for both underpayments and overpayments will be 4% (unchanged). For corporation...
IRS ALLOWS TAXPAYER TO COMBINE ACQUISITION INDEBTEDNESS AND HOME EQUITY INDEBTEDNESS
The Internal Revenue Code does not allow deductions for “personal interest.” Nonetheless, qualified residence interest, which includes interest on acquisition indebtedness and home equity indebtedness on a qualified residence, is deductible. Gene...
APPLICABLE FEDERAL RATES – DECEMBER 2009
ORDINARY INCOME ON SURRENDER OF LIFE INSURANCE POLICY
Borrowing from a life insurance policy is a tax-advantaged method of obtaining funds. Generally, a policy owner can borrow against the cash surrender value of non-term life insurance policies. The receipt of the loan proceeds is not a taxable event t...
SUMMARYOF NEW TAX ACT PROVISIONS
Congress passed last week the Worker, Homeownership, and Business Assistance Act of 2009. President Obama is expected to sign the new Act. Below is a summary of key provisions: A. Expansion of 5 Year NOL Carrybacks. The ability to carry back NOL’s...
