Tax Law Archives - Page 17 of 41

IRS ‘Wealth Squads’ On The Way

Forbes: “Newly created exam teams will scrub wealthy taxpayers’ hedge funds, trusts and foreign accounts. Those who by anyone’s measure would be considered wealthy, should be on notice: How you acquired and now maintain the wherewithal to be so labeled may soon be called into question by the Internal Revenue Service.”

Hire Your Kids, Get a Tax Break

Wall St. Journal: “Would you like a tax break for hiring a worker—say, a student, or even your spouse or child? Then Uncle Sam may have a deal for you. In March, Congress passed the Hiring Incentives to Restore Employment—or HIRE—Act . . . .”

What Higher Taxes Will Really Mean

New York Times: “The federal income tax increases over the next three years have led to lots of grumbling. But for all the back and forth about the percentages, something has been overlooked: what do these increases mean in real numbers? . . . high earners will be paying 17 to 19 percent more in taxes by 2013 than this year. But these are just federal taxes. That does not include state taxes or Social Security contributions, or property and sales taxes.”

Fending Off Health Taxes

Barrons: “You may soon be paying $30,000 more in taxes, thanks to the health-care law. Here’s what to do. SAY WHAT YOU MAY ABOUT THE NEW health-care law, it won’t be cheap for high-net-worth taxpayers. The law’s $250 billion in tax hikes for individuals are aimed squarely at big earners.”

New IRS Form 1099 Rules: Stealth IRS Changes Mean Millions of New Tax Forms

CNN Money: “The massive expansion of requirements for businesses to file 1099 tax forms that was hidden in the 2,409-page health reform bill took many by surprise when it came to light last month.”