The Dirty Dozen Every year the IRS lists out the most aggressive scams of the year under its “Dirty Dozen” list. This list highlights various phishing and other scams that taxpayers might encounter. The current IRS list includes… September 15, 2020
Delayed Payment of Employer Taxes On Aug 8, 2020, President Trump signed a memorandum directing the Treasury to provide specific relief with reference to the social security withholding. For the purposes of the notice, all employers required to withhold and… September 9, 2020
More on the TCJA & Gift and Estate Tax The Tax Cuts & Jobs Act of December 2017 doubled the lifetime exclusions under the Gift and Estate tax to $11.4 Million (adjusted for inflation) in 2019. An individual’s estate comprises of the total net… September 4, 2020
Definition of US Person for Tax Purposes The US Government imposes income tax on all US persons regardless of whether they have earned their income working in the United States or a foreign country. In this context, especially for persons with international… August 14, 2020
International Tax Enforcement International Tax Enforcement is a complicated and often intricate process given the nature of tax laws and local enforcements across the world. FATCA was one step toward the related exchange of information to identify and… July 29, 2020
Tips to Maximize Efficiency with Remote Accounting Even before the advent of COVID-19, accounting firms had turned to remote accounting/cloud accounting to empower their staff to carry out tasks from virtually anywhere. The advent of the pandemic has hastened the technology adaptation… July 25, 2020
Tax Day is here: What other payments are due by July 15? The tax payment deadline of April 15 had been postponed to July 15, 2020, by the federal and state governments owing to the coronavirus pandemic. A taxpayer can request an extension to file until October… July 14, 2020
Surviving Work From Home During COVID-19 The COVID-19 crisis has changed multiple facets of our lives with a long-term impact. It has ensured that the percentage of employees who work from home is at an all-time high. However, not all organizations… July 10, 2020
Engaging Firms Offshore – Time for Cloud Transformation The advent of high-speed internet coupled with easy to deploy technology has made cloud-based accounting a secure and cost-effective option. The flexibility offered by working on the cloud means that exciting opportunities for setting up… July 10, 2020
Cryptocurrency – a quick catch up Cryptocurrency is a digital representation of value. The name is derived from the use of cryptography to secure blockchains without a third party & without having to trust the participants. The first cryptocurrency, Bitcoin was… July 10, 2020
