12 Matching Annotations
  1. Feb 2024
    1. Qualified education expenses paid on behalf of the student by someone other than the student (such as a relative) are treated as paid by the student.

      Does Tuition paid for graduate students by the professor (from research grants) count as a third party?

  2. Dec 2022
  3. Aug 2022
  4. Sep 2021
  5. Jun 2020
    1. IR-2020-107, May 28, 2020 WASHINGTON — The Internal Revenue Service announced today that later this summer taxpayers will for the first time be able to file their Form 1040-X, Amended U.S Individual Income Tax Return, electronically using available tax software products.
    2. IRS announces Form 1040-X electronic filing options coming this summer; major milestone reached for electronic returns
  6. May 2020
    1. Credit for employer-provided childcare facilities and services (Form 8882).This credit applies to the quali-fied expenses you paid for employee childcare and quali-fied expenses you paid for childcare resource and referral services. For more information, see Form 8882.

      Business Credits

      What are Business Credits?

      You can take business credits if you pay for certain business expenses. Business credits include:

      • Investment credit
      • Low-income housing credit
      • Passive activity credits
      • Disabled access credit
      • Credit for employer pension plan start-up costs
      • Credit for employer-provided child-care facilities and services
      • Indian employment credit
      • Credit for increasing research activities
      • Orphan drug credit
      • New markets credit
      • Renewable electricity production credit
      • Credit for alcohol used as fuel
      • Geothermal energy credit
      • Solar energy credit
      • Microturbine energy credit
      • Advanced coal project ended after August 8, 2005
      • Biofuels credit
      • Low sulfur diesel fuel production credit
      • Nonconventional source fuel credit
      • Alternative fuel vehicle refueling property credit
      • Distilled spirits credit
      • Qualified railroad track maintenance credit
      • Mine rescue team training credit
      • General credits from an electing large partnership
      • General Business Credit carryover

      More Information

      • IRS Publication 334 - Tax Guide for Small Business Publication 334 is not included in this TurboTax product, you may request a copy.
  7. Jan 2017
    1. If you are providing this Form W-8BEN to document yourself with respect to a financial account that you hold with a U.S. office of a financial institution, provide your date of birth.

      Seems to indicate that birthdate is optional if you don’t have a US account.

  8. Jun 2016
    1. The warning came in the wake of a Justice Department investigation of the role that certain Swiss banks had played in helping United States citizens evade federal taxes.

      I am surprised the New York Times did not mention the IRS Voluntary Disclosure Program for Offshore Assets. According to the IRS, "voluntary programs have resulted in more than 45,000 voluntary disclosures from individuals who have paid about $6.5 billion in back taxes, interest and penalties." (See IRS June 6, 2014 Press Release available here

      There is a good chance that some of the tax-payers tax structures analyzed in preparation for this article came into compliance through it. To make matters worse, the NY Times reported on it numerous times since its first incineration in 2009— with the latest Jan. 10 2012 on page B6, available at — which only makes this passing mention of investigations by the Department of the Treasury that much more disappointing.

  9. Feb 2014