| Electing S Corporation Status |
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| A timely and proper S corporation election generally permits the income of the business to be taxed directly to the shareholders of the corporation rather than to the corporation itself. In order to be effective in a current calendar year, the election must be filed by March 15th of that year. If it is filed any later, the election will apply to the next tax year. More... |
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| Treasury Offset Program and Injured Spouse Relief |
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| If you owe any past-due child support, Federal agency non-tax debts, or state income tax obligations, you might not be getting the federal income tax refund that you expected. Congress has authorized the Department of Treasury's Financial Management Service (FMS), which issues the refund checks, to set up the Treasury Offset Program, which can reduce your refund or any overpayment that you wanted to apply to next year's tax liability. More... |
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| Taxpayer Assistance Orders |
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| A taxpayer who believes that he or she is suffering, or is about to suffer, significant hardship as a result of the way in which the tax laws are being administered may be entitled to help from the Office of the National Taxpayer Advocate. The National Taxpayer Advocate has the authority to issue a taxpayer assistance order (TAO) upon the taxpayer's approved application. More... |
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| Taxability of Military Pay |
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| In general, if you are a member of the U.S. Armed Forces, your pay is included in gross income for federal income tax purposes. Basic pay includes amounts paid as back wages and amounts paid for services performed during active duty, attendance at designated service schools, drills, reserve training, and training duty. Special pay, including amounts received by medical and dental officers, nuclear-qualified officers, and amounts paid for services performed during diving duty, foreign duty, hostile fire, imminent danger, and special duty assignment must also be included in gross income. In addition, if you receive bonuses for enlistment and reenlistment, payments for accrued leave, muster out payments, personal money allowances paid to high-ranking officers, and certain scholarship and student loan repayments, you must include them in gross income.More... |
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| Abusive Tax Schemes Involving Indian Tribal Governments |
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| Federally recognized tribes are sovereign legal entities, similar to state governments, with all the rights and attributes of a sovereign entity such as a state. They have a constitutionally guaranteed status as sovereign entities. An Indian tribe, as an income producing entity, is not subject to income taxation. However, income earned, if not otherwise exempt from income taxation, must included in the gross income of the Indian tribal member when distributed or constructively received by the tribal member.More... |
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