When Should I Utilize The Foreign Tax Credit and When ...


August 8, 2017 - Reply

I have long been trying to understand why most accountants do not take a foreign tax credit for health insurance tax and (in Israel) bituach leumi. The relevant IRS information which I found states that:


The tax must be imposed on you

You must have paid or accrued the tax

The tax must be the legal and actual foreign tax...

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Website: https://www.expattaxcpas.com

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hot topics for return preparers | EITC & Other Refundable ...

Make a Complaint About a Tax Return Preparer

Don't Miss Any�Refundable Credit�News

Updated Due Diligence Training Module

We updated the training module with�additional information on the Protecting Americans from Tax Hikes Act of 2015 (PATH Act) and the 2017 Form 1098.

If you haven't already received CE credit this year, we encourage you to take the module and you may qualify for one...

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Date: 2018-03-21 23:35:57
Website: https://www.eitc.irs.gov

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Fees & Penalty for late / Non filing of TDS Return - TaxGuru



From the above computation it can be observed that there is a delay of 50 days. Late filing fees under section 234E will be charged at Rs. 200 per day, thus for 50 days the late filing fees will come to Rs. 10,000. However, the late filing fees cannot exceed the amount of tax collected at source. TCS during the quarter amounts to Rs. 2,520 and hence, late filing fees shall be Rs....

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Date: 2018-03-23 06:01:57
Website: https://taxguru.in

Related topics : file amended tax return tax act / file amended tax return 2017 / file my tax return 2017 / file late tax return / failure to file income tax return

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Taxation in Puerto Rico - Wikipedia

Federal taxes[ edit ]

The Commonwealth government has its own tax laws and Puerto Ricans are also required to pay some US federal taxes, [2] [3] [4] [5] [6] [7] [8] [9] although most residents do not have to pay the federal personal income tax. [10] In 2016, Puerto Rico paid $3.5 billion into the US Treasury . [11] Residents of Puerto Rico pay into Social Security, and are thus eligible for...

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Date: 2019-04-03 17:01:17
Website: https://en.wikipedia.org

NJ Division of Taxation - Corporation Business Tax Credits ...

Grow New Jersey Assistance Tax Credit - Back to Top

P.L. 2011, c. 149, effective January 5, 2012; P.L. 2013, c. 161, effective January 5, 2013. N.J.S.A. 34:1B-242 et seq. To claim this credit, the taxpayer must complete Form 320

The Grow New Jersey Assistance Tax Credit is available to businesses creating or retaining jobs in New Jersey and making a qualified capital investment at a qualified...

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Website: state.nj.us

Other policy matters | Tax Policy, Inland Revenue


(Clause 3)

Summary of proposed amendment

The Bill sets the annual income tax rates that will apply for the 2017-18 tax year. The annual rates to be confirmed are the same that applied for the 2016-17 tax year.

Application date

The provision will apply for the 2017-18 tax year.

Key features

The annual income tax rates for the 2017-18 tax year will be set at the...

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Date: 2018-03-23 05:48:36
Website: http://taxpolicy.ird.govt.nz

NEW JERSEY Tax Forms and Instructions

NEW JERSEY Tax Forms and Instructions

Below are the relevant links for NJ State Tax information.

New Jersey State Mandate Acceptance in the New Jersey e-file program is automatic with acceptance in the federal program. New Jersey does not require a signature document. Practitioners may choose to maintain a signed copy of NJ-8879, NJ...

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Website: http://www.statetaxinformation.com

Avoiding 10 Common FAFSA Mistakes - The College Solution


selena jimenez February 5, 2015 at 8:51 pm #

I have a question. Last year I asked for fafsa, my parents are separated and I live with my father. When I applied for financial aid I gave my moms income, now they are each going to fill out their income tax. My father usually claims me, will their be a problem because I used my moms income?


kelly February 2, 2015 at 7:36 pm #

Hi I have a...

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Website: http://www.thecollegesolution.com

Home - Bureau of Internal Revenue


Regulations implementing the VAT provisions under the Train Law.  RR 13-2018

Consolidated Rules and Regulations on Estate Tax and Donor's Tax pursuant to the TRAIN Law.  RR 12-2018

Amends certain provisions of RR No. 2-98 to implement further amendments pursuant to TRAIN Law relative to withholding of Income Tax.  RR 11-2018

Creation of ATC for the remittance of Creditable/Final Income...

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Website: bir.gov.ph

eSmart Tax Review 2019 - Free Online Tax Filing

eSmart Tax

CPA Involvement: Not directly; free CPA support available by phone with most plans�

Plans: Free, free for simple situations (1040EZ); Basic, $34.95, for moderately complex situations (including itemized deductions); Deluxe, $45.95, for investors and other complex situations; Premium, $59.95, for small business owners and other very complex situations

State Returns Included: No;...

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Date: 2019-03-24 04:28:43
Website: https://www.moneycrashers.com

How Can I Actually Speak to a Real Person or Agent at the ...



�� 66 Comments on How Can I Actually Speak to a Real Person or Agent at the IRS - Phone Numbers That Work

With so many people experiencing high levels of frustration around�getting information on their tax refund delays�I thought I would take some of the feedback and tips across thousands of�comments from my recently updated�IRS schedule article and post some ideas on...

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Website: savingtoinvest.com

IRS Austin Texas Customer Service Phone Number | Contact ...

IRS Austin Texas Customer Service Phone Number

Phone Number of IRS Austin Texas is (512) 499-5127 .

IRS Austin Texas is a office location of Internal Revenue Service, a federal government agency, which is responsible for collecting taxes across the country. The office works under the Department of the Treasury. IRS Austin Texas operation are controlled from the headquarters, located in...

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Website: allcustomercarenumbers.net

AAT finds ATO tax decision ‘unreasonable’ in SMSF case ...

After the auction, but before he signed the contract, Mr Wainwright had a discussion with Mr Coetzee, his financial adviser and tax agent. As a result of that discussion, it was decided that it would be in the applicants' best interests to acquire Triton Park in their own names.

For the applicants to have the necessary money to purchase Triton Park in their own names, with Mr Coetzee's advice,...

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Date: 2019-04-10 01:25:04
Website: https://www.smsfadviser.com

Truck Dues 2290 support – Heavy Vehicle Use Tax FAQ‘s

Form 2290

What is Form 2290?

Heavy Highway Vehicle Use Tax Return or Form 2290 is a Federal Excise Tax imposed on vehicles operating in public highways with a gross weight of 55,000 pounds or more. Taxes are collected annually and are used for highway construction and maintenance.

What are the other terms used for referring form 2290?

Form 2290 is also referred as Heavy Vehicle Used Tax or HVUT,...

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Date: 2016-11-01 05:35:47
Website: truckdues.com

Nevada Governor signs new "commerce tax" into law ...

Nevada Governor signs new "commerce tax" into law

Nevada commerce tax

If enacted into law, effective on July 1, 2015,6 SB 483 would impose a new annual "commerce tax" for the privilege of "engaging in a business"7 in Nevada.8 The tax would apply on an entity-by-entity basis on "each business entity whose 'Nevada gross revenue' in a taxable year exceeds  $4,000,000."9 For this purpose, the term...

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Website: https://www2.deloitte.com

ITR forms : AY 2018-19 and AY 2017-18 - Finotax

ITR forms and Mode of Filing Return

for AY 2018-19 and AY 2017-18

Electronic Filing of Returns

Electronic filing of income tax return is mandatory for the taxpayer if the total income is more than 5 lakh or if there is a claim of refund except for super senior citizen (Age above 80 years) or if ITRs 3, 4, 5, 6 or 7 have to be filed (Rule 12 (3) of the Income Tax Rules, 1962 as amended).


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Website: https://www.finotax.com

Business Return Due Dates Change for Tax Year 2017 ...

S-Corporate: returns remain the same, March 15�(fiscal year - 15th day of the 3rd month following the close of the fiscal year).

Partnerships: are now due March 15�(fiscal year - 15th day of the 3rd month following the close of the fiscal year).

C Corporations: are now due April 17�(fiscal year - 15th day of 4th month following the close of the fiscal year). See Special Rule for C Corps with fiscal years ending on June 30th, below.

Form 114 (FBAR): returns are now due April 17 (same as Individual). Form 114 will be automatically extended for 6 months, for a final deadline of October...

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Website: https://accountants-community.intuit.com

Related topics : corporate tax return due date 2017 extension / corporate tax return due date 2017 / corporate tax return filing deadline fiscal year / s corp tax return due date 2017 / corporate tax return filing due date

income tax return filing: You need to file your I-T return ...

| TNN | Updated: Mar 28, 2018, 17:59 IST


A belated return (which means an I-T return which is filed late beyond its original due date) can now be filed before the expiry of twelve months from the last day of the financial year

To create public awareness, a series of advertisements were rolled out, says an I-T official

MUMBAI: If you haven't yet filed your Income-tax (I-T) return for...

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Date: 2019-03-24 00:42:47
Website: https://timesofindia.indiatimes.com

Related topics : do i need to file a tax return in 2018 / individual income tax return filing / do i need to file a tax return 2017 / india income tax returns filing / file amended tax return 2018

Internal Revenue Bulletin: 2015-5 | Internal Revenue Service

This revenue procedure updates and revises the general procedures under § 446(e) of the Internal Revenue Code and § 1.446-1(e) of the Income Tax Regulations to obtain the consent of the Commissioner of Internal Revenue (Commissioner) to change a method of accounting for federal income tax purposes. Specifically, this revenue procedure provides the general procedures to obtain the advance...

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Date: 2018-03-23 01:13:10
Website: https://www.irs.gov

The Tax Division's Mission - Alaska Department of Revenue


Alaska levies a corporate income tax on Alaska taxable income.

For purposes of computing taxable income, Alaska, like many states, adopts the federal Internal Revenue Code (IRC) by reference, unless excluded or modified by specific Alaska statutes.

For a corporation doing business only in Alaska, its taxable income is federal taxable income with certain Alaska modifications.


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Website: http://www.tax.alaska.gov

What is the Alternative Minimum Tax (AMT) and How Does It ...

You Are Here: Home » Taxes » What is the Alternative Minimum Tax (AMT) and How Does It Impact Your Taxes?

What is the Alternative Minimum Tax (AMT) and How Does It Impact Your Taxes?

Written by Kevin Mulligan 2 Comments

There are few things in the world of taxes more terrifying than the Alternative Minimum Tax (AMT).

After taking all of that time with your W-2s, donations, and various...

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Date: 2018-02-20 17:10:42
Website: http://freefrombroke.com

Income / Profession Tax Benefits for Disabled ...

In this article we will discuss the Benefits under the Income Tax and Profession Tax Act Available to Disabled or Handicapped Persons. Income Tax Act Provides Deduction Under Section 80DD, 80DDB and 80U and also provide indirect tax benefit under section 64 of the Income Tax Act. In addition to that In most states in India Profession tax exemption is been extended to Disabled or Handicapped...

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Website: https://taxguru.in

Related topics : individual income tax return filing / india income tax returns filing / individual income tax return / income tax e file return / income tax check return

Taxation of foreign superannuation (Taxation (Annual Rates ...

Taxable lump-sum withdrawals or transfers

The rules set out in new section CF�3 apply to "foreign superannuation withdrawals" received from 1�April 2014 onwards, where the interest in the foreign superannuation scheme was first acquired at a time when the person was not a New�Zealand tax resident. Providing that this condition has been met, it does not matter whether the person first became...

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Date: 2019-04-09 18:32:47
Website: ird.govt.nz

41:2 Bill 68, Modernizing Ontario's Municipal Legislation ...

Amendments to the Municipal Act, 2001

Schedule 2

Amendments to the City of Toronto Act, 2006

Schedule 3

Amendments to the Municipal Conflict of Interest Act

Schedule 4

Amendments to Other Acts


Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows:

Contents of this Act

1 This Act consists of this section, sections 2 and 3 and...

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Website: http://www.ontla.on.ca

Related topics : file amended tax return tax act / council tax arrears after 10 years / council tax arrears time limit / council tax arrears written off / arrears council tax

ezTaxReturn Review - Pros, Cons and Verdict

View Full Gallery

Pros / This online tax service charge the same fee regardless of the type of 1040 you are required to file. It does not charge extra for additional forms or self-employment income. This service does not require a credit card to file.

Cons / Although this service answered several of our emails within an hour, ezTaxReturn does not publish telephone numbers on its website nor does...

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Website: toptenreviews.com

Chapter 5747: INCOME TAX - Lawriter - ORC - Ohio Laws and ...

5747.01 Income tax definitions.

Except as otherwise expressly provided or clearly appearing from the context, any term used in this chapter that is not otherwise defined in this section has the same meaning as when used in a comparable context in the laws of the United States relating to federal income taxes or if not used in a comparable context in those laws, has the same...

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Website: http://codes.ohio.gov

CPA Miami Florida Tax Firm South Brody Associates PA

Real Estate International Tax

Latest News

Brody & Associates is a high-end tax and assurance firm that prides itself on establishing extraordinary relationships with our clients. We are well known for our depth of knowledge in Real Estate and International Tax (our main practice areas); whereby, we proactively provide significant value in all aspects of our services to assist you on reaching your...

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Website: http://www.bacpa.com

TAX CODE CHAPTER 33. DELINQUENCY - Texas Constitution and ...





Sec. 33.01. PENALTIES AND INTEREST. (a) A delinquent tax incurs a penalty of six percent of the amount of the tax for the first calendar month it is delinquent plus one percent for each additional month or portion of a month the tax remains unpaid prior to July 1 of the...

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Date: 2018-02-06 06:05:59
Website: http://www.statutes.legis.state.tx.us

What is the earned income tax credit (EITC)? | Tax Policy ...

What is the earned income tax credit (EITC)?

Taxes and the Family

What is the earned income tax credit?


The earned income tax credit subsidizes low-income working families. The credit equals a fixed percentage of earnings from the first dollar of earnings until the credit reaches its maximum. The maximum credit is paid until earnings reach a specified level, after which it declines with each...

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Date: 2018-03-22 22:25:28
Website: http://www.taxpolicycenter.org

Related topics : earned income tax return / irs file income tax return / tax return with no income / refund on income tax return / individual income tax return 2016

Quick Method of Accounting for GST/HST - Canada.ca

Quick Method of Accounting for GST/HST

RC4058(E) Rev. 17

If you are blind or partially sighted, you can get our publications in braille, large print, etext or MP3 by going to About multiple formats . You can also get our publications and your personalized correspondence in these formats by calling 1-800-959-5525.

This guide uses plain language to explain the most common tax situations. It is...

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Date: 2019-03-23 23:18:41
Website: https://www.canada.ca

Tax Insights: 2018 Annual tax filing and remittance ...

Canadian corporations are required to file annual income and capital tax returns (due six months1 following each taxation year end), and to meet several other Canadian annual filing and remittance deadlines. This Tax Insights outlines some of the more common compliance requirements to be considered at this time of year. Others also may apply (e.g. T4A information return to report certain benefits...

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Website: https://www.pwc.com