Tax Articles

These Tax articles will give you the news and information you need to stay up to date in the ever changing Tax industry.

August 14, 2013 – 1,870 views
Ms. Greta P. Hicks - Greta P Hicks CPA
What kinds of information is available from the IRS? When can you receive this information without a FOIA request (Freedom of Information Act Request)? What are the guide lines for submitting a FOIA request?... Full Story 
August 14, 2013 – 2,057 views
Tax Professionals' Resource
When your wealth is passed down from you to your children, in other words the next generation, you are liable to pay a certain amount of tax. The same wealth when passed down further from your children down to their next generation, taxes will be further deducted at this stage as well. The GST or Generation-Skipping tax exempt trust helps avoid this process of being doubly taxed. When the wealth is transferred to a trust, the assets can benefit some or all descendants without double taxation... Full Story 
August 8, 2013 – 1,541 views
Tax Professionals' Resource
Internal Revenue Service recently extended the Voluntary Classification Settlement Program. This move by the IRS has made way for many taxpaying professionals to benefit from this low cost choice. It will help them in obtaining assurance in the eyes of the law by being able to reclassify their workers for future tax phases as employees... Full Story 
August 8, 2013 – 3,243 views
Ms. Greta P. Hicks - Greta P Hicks CPA
MORE and MORE responsibility is being placed on the income tax return preparer. US Treasury Circular 230 has been changed several times this last 5 years. Are you keeping current to keep yourself out of trouble?... Full Story 
August 7, 2013 – 1,585 views
Tax Professionals' Resource
The fact that the nonprofit organizations are exempt from tax does not mean that they are also exempt from filing revenue forms. The Internal revenue Service, or IRS, mandatorily requires the filing of revenue forms for them. In other words, they don’t have to pay tax, yet they must fill in the information needed by the IRS... Full Story 
August 2, 2013 – 1,635 views
Tax Professionals' Resource
401(k) plans allow for withdrawal of some or the entire amount in a retirement fund in cases of emergencies before a person retires. Such withdrawals are known as hardship withdrawals. These withdrawals are subject to income tax as well as tax penalties from the Internal Revenue Department, generally to the tune of 10% of the withdrawn amount... Full Story 
July 31, 2013 – 3,550 views
Ms. Greta P. Hicks - Greta P Hicks CPA
If a business receives $10,000 or more in cash from one customer in one transaction, it is the responsibility of the business to complete a Form 8300. Yes, there is a penalty if the business does not comply with this information reporting requirement... Full Story 
July 25, 2013 – 2,631 views
Bryce Welker - Crush The CPA Exam
Learn the key differences of the CMA and CPA including: Exam Content, Average Salary, Exam Fees, Requirements and more!... Full Story