Help With Washington State Business Activities Inquiry and Questionnaire
Are you a business located outside of Washington State? Are you selling your goods online into Washington State?
Tax Requirement for Gig Income
One of the unique changes from the great recession is the advent of the”sharing economy” and emergence of the the “Gig” worker. The “gig income” you earn is taxable income.
Tax Requirement for Income from Gambling
Taxable income comes in many forms. Gambling winnings from gambling are considered taxable income; therefore, gambling losses, with specific limitations, may be tax deductible.
Know what to expect in IRS tax audits
Individuals receiving notice of an audit from the IRS, they should understand what will happen so that they can better prepare for the process.
When one spouse who filed a joint tax return is responsible for additional tax liability or for a refund being withheld, the other spouse may ask the IRS for relief from liability.
The Internal Revenue Code is notoriously complex, particularly for rules governing business taxes. It is easy for business owners to run afoul of the IRS when trying to calculate and pay its payroll taxes.
How Does the IRS Determine Responsibility for Unpaid Payroll Taxes?
July 9 2012, Wall Street fraud watchdog now warns all U.S. citizens with a IRS tax liability to hire a top tax attorney not a cable tv scam & they worry about the IRS taxpayers bill of rights.
http://www.chron.com/default/article/Wall-Street-Fraud-Watchdog-Now-Warns-All-US-3692400.php
On December 15, 2011, the IRS released updated information regarding Form 8938, a new information reporting form for certain U.S. taxpayers who own specified foreign assets: Certain U.S. taxpayers holding specified foreign financial assets with an aggregate value exceeding $50,000 will be required to report information about those assets on new Form 8938, which will be attached to the taxpayer's annual income tax return.
Foreign Financial Asset Reporting
On September 19, 2011, the Secretary of Labor signed a memorandum of understanding with the Internal Revenue Service that will improve the efforts of the Department of Labor to end the business practice of misclassifying employees as independent contractors: http://www.dol.gov/opa/media/press/whd/WHD20111373.htm. To the business owners this means one thing: If you are treating your workers as independent contractors, now is time to determine whether all your workers are properly classified as contractors. You may face substantial fines and penalties if your workers are reclassified into employees.
On September 21, 2011, only a couple of days after DOL and the IRS signed this memorandum, the Internal Revenue Service launched its new "Voluntary Classification Settlement Program" to encourage employers to get into compliance with the worker classification issues: http://www.irs.gov/newsroom/article/0,,id=246203,00.html. Please note that the IRS has no requirement to keep your information in confidence from the state agencies, such as L&I and ESD. If you would like more information, please call our office.
Call (425) 289-0629 for an Initial Phone Consultation at a Tacoma, Washington, IRS Tax Problem Law Firm. We invite you to contact us today by phone or contact our Washington tax debt attorney by email, to discuss your case with our experienced Seattle tax law attorney. Find out how we can help. It is not necessary for you to travel to our office; our interview and any subsequent work can be done entirely over the phone or through videoconferencing or email.
