Everything You Wanted to Know About the IRS Tax Forms Composition Process But Were Afraid to Ask
|
|
- Toby Kelley
- 8 years ago
- Views:
Transcription
1 Everything You Wanted to Know About the IRS Tax Forms Composition Process But Were Afraid to Ask Session 50 Karen L. Gill Visual Information Specialist Composition and PSD Section Publishing Division Media and Publications Internal Revenue Service
2 The Media and Publications organization within the Internal Revenue Service is responsible for approximately 500 tax forms, 200 separate instructions, and 120 taxpayer information publications. There are also a variety of internal products and other public use products that may originate from other areas of the IRS organization, but get reviewed and published by the Media and Publications organization. Tax forms are usually the result of legislation enacted by Congress, but their development is a joint effort of many people and organizations. Congress may explicitly state in a bill what information needs to be on a form or other tax product. The White House, the Treasury Department, and other Government agencies may have information needs that the IRS has to incorporate into the design of the tax product. Various segments of the IRS, like the Collection organization or the Electronic Tax Administration, also have information needs that need to be incorporated. There are also external stakeholders that have input into the development of a tax form. There are employee suggestions, focus group studies, taxpayer letters, taxpayer groups, tax practitioner groups, software vendors, employer groups, and a variety of other special interest groups. Developing a tax form can be just like doing a jigsaw puzzle. All of the pieces must fit in their place. How we got to this place Even before we became a nation, there were taxes. Indeed one of the main reasons the Revolutionary War was fought was because taxes had been imposed on the colonies and the colonists had no voice in Parliament to object to the taxes. No taxation without representation became a battle cry. Taxation has been a touchy subject ever since. The original Articles of Confederation did not include the power to levy taxes. The Government would request donations from the States to finance operations. By the time of the Constitutional Convention in 1787, the founding fathers realized that there needed to be a better way to finance Government operations and pay back foreign debt. Article 1, Section 8, of the new U.S. Constitution gave Congress the authority to levy and collect taxes to pay debts and provide for the common defense. In September of 1789, Tench Coxe assumed the duties of Assistant to the Secretary of Treasury. In 1792 the position was redesignated as Commissioner of Revenue. The Revenue Act of 1791 established an excise tax on distilled spirits and tobacco products. This led to the first assault on a Revenue Officer later that year, and ultimately to the famed Whiskey Rebellion of After that, the U.S. Government relied mainly on excise taxes, tariffs and other duties, lotteries, and land sales to fund governmental activities. Pennsylvania was the first state to enact an income tax in The financial demands of the Civil War led to the first Federal income tax imposed on U.S. citizens. A year later the Bureau of Internal Revenue was established for the collection of taxes. The income tax was intended to be a temporary revenue raising measure and was a progressive tax of 3 to 5% on incomes above $600. In its first year of operation, the Bureau of Internal Revenue collected $39.1 million, and there were 3,882
3 employees. The income tax expired in 1866 and revenue was once again raised by other means. The economic demands of the Spanish American War caused Congress to re-examine the need for an income tax. A Constitutional Amendment was proposed, and in 1913 the 16 th Amendment was added to the Constitution. This amendment allowed Congress to levy and collect income taxes imposed on individuals and corporations. Up until World War II, paying income taxes was a sign that you were a person of wealth and high social status. During and after World War II, Congress began to lower the threshold on income subject to taxation and by the late 1940s most citizens were paying an income tax. In 1943, the Current Tax Payment Act established a 20% withholding of taxes from paychecks and created the pay as you go system. In 1952, the Bureau of Internal Revenue was reorganized and became the Internal Revenue Service. That was also the first year that a tax package was created, a combination of forms and instructions sent out as a single mailing unit. How tax law becomes a tax form Ideas for tax legislation may be proposed by any Member of Congress, or it may be proposed by State legislatures or Executive Branch agencies. Citizens may also petition their representatives to initiate legislation. All bills for raising revenue originate in the House of Representatives, but the Senate may propose or concur with amendments. House and Senate committees help to shape the legislation. A bill that has been agreed to in identical form by both the House and Senate goes to the President for signature. The Office of Chief Counsel within the IRS monitors all legislative developments and works with the Tax Law Specialists within the Tax Forms and Publications Division of the Media and Publications organization to interpret the legislation. There is usually one Tax Law Specialist (TLS) responsible for coordinating the activities surrounding the development of a tax form. The TLS reviews the pertinent legislation or part of the US Tax Code to determine what legally needs to be on the form. The Chief Counsel organization is consulted to clear up any ambiguities with the law or the Internal Revenue Code. Internal and external stakeholders are also consulted to determine their information needs. The TLS will usually start the development process by getting a first draft of the form created by the Composition Specialists in the Publishing Division. The Composition Specialist will consult with a Printing Specialist who is responsible for the printing contracts to develop the form s specifications. The Composition Specialist will apply typographic and forms design standards, and ensure that all publishing requirements are met, in addition to making the changes requested by the TLS. There may be several composition cycles of a form, and different versions may be created based on whether new legislation may be enacted.
4 The TLS will circulate drafts of the form among the various stakeholders within the IRS to ensure that all IRS functional needs have been met. A publicly released draft of the form is posted on the IRS web site so that taxpayer groups, tax practitioners, software vendors, etc., can comment on the form. There may also be focus group studies done, especially if it is a new form or the form has been redesigned. Various design teams may be established to look at a particular tax form. Feedback on the form may also come from taxpayer letters and employee suggestions. There is also a Tax Products Coordinating Committee that meets to discuss the information collection and processing needs of the various IRS functions and how they will impact on the design of a form. Once the design has been approved by the TLS and his Reviewer, the TLS gives an Ok-to-Print Authorization to the Publishing Division. The Composition Specialists will create the press optimized PDFs for print vendors and fillable PDFs for posting to the IRS web site. These products get a final quality review and various Publishing and Distribution stakeholders are notified that the product is ready to distribute among the various publishing venues. A Tax Products CD-ROM is developed as well as Braille or large print versions of tax products and html versions of publications and instructions. The printed products are either produced by a print vendor or through our on-demand printing program. The Distribution Division analyzes the various needs of taxpayers and determines the best methods of getting a tax product to a taxpayer. There is a National Distribution Center that fulfills orders for forms and other tax products, and also houses the ondemand printing program. Tax products are shipped to Post Offices and Libraries, as well as to Taxpayer Assistance sites. Tax packages, various combinations of forms, instructions, and publications, are also mailed out to taxpayers and businesses. Most people are familiar with the 1040 tax package, but don t realize that there are 10 different versions of that package. Which package a taxpayer receives is based on what they filed last year. Package is sent to individuals or couples who itemize deductions and may have some deductions or credits for things like child care. Taxpayers who have rental properties, self-employment income, other investment income, are farmers or fishermen, or live overseas, receive some of the other 1040 tax package configurations. There is a Package 1040-EZ for people with very simple tax situations, and two variations of Package 1040A. There are also tax packages for partnerships (Package 1065), corporations (Package 1120), employers (Package 940), and other taxpayer groups. How are tax products created There are two main composition systems for creating tax products: (1) There is an SGML composition system for creating instruction products and taxpayer information publications. The TLS edits the SGML (or XML) file and an SGML team of programmers supports them if they need assistance with coding. The composition engine is the Pager Composition System by Datalogics, and the
5 TLS uses the Arbortext Epic Editor to edit the SGML files. The TLS does not need to think about how the text will be formatted because that is all controlled by a DTD (document type definition) that identifies the various properties of each component of the document (heading, paragraph, bulleted list, etc.). Once the TLS has finished editing the file, they compose it and a PDF is generated for their review. (2) Tax forms and other non-sgml products are created on the Tax Forms Automated Composition System (TFACS). The main software used is OneForm Designer Plus by Amgraf, but other software packages are used to support the production of the final product. Composition Specialists lay out the design of the form and generate fillable PDFs. The Composition Specialist will also create graphics for SGML products, usually things that the TLS cannot easily code in SGML like formulas and tables or filled-in samples of tax forms. What does the Future Hold Every few years, someone will recommend a complete overhaul of the tax system. The most recent effort happened last year with the President s Tax Panel. This Panel looked at ways to simply the tax code and reducing the taxpayer s filing burden, while still trying to encourage some behaviors (e,g, saving, home buying, giving to charities, etc.). The Panel s recommendations were published last Fall and immediately drew both criticism and praise from various special interest groups. Whether anything will come of the Panel s work is up to Congress. There has also been a call to go to some form of flat tax or value added tax. Both types of taxes would probably eliminate many of the tax forms that are needed to collect taxes, but would not do away with tax forms altogether. One trend that has been ongoing over the past few years is that more taxpayers are filing electronically. This is causing print volumes to go down and fewer taxpayers are now receiving a tax package in the mail. The IRS has not yet reached the goal of 80% of the returns filed electronically, but we are getting close. More taxpayers are also getting their forms from the internet and mailing them in rather than getting them from their local library or Post Office. The Distribution Division is constantly looking at the different methods taxpayers are using to get the forms and revamping their distribution programs. Just within the past year, the Distribution Division eliminated the Tax Fax program. The TeleFile program was also eliminated as a way for taxpayers to file their taxes. Both Tax Fax and TeleFile were expensive programs to develop and maintain, and both were seeing fewer taxpayers using that method each year. Some of the initiatives that the Publishing Division will be looking at in the next year or so include XML versions of tax forms for the Electronic Tax Administration s e-file programs. We are also creating fillable PDFs of forms with 2-D barcodes so the data on the form can be easily extracted if the taxpayer mails or faxes the form to the IRS. The Composition Specialists are also trying to incorporate Section 508 accessibility features
6 in the source files of tax forms so that when a tax form goes ok-to-print it is fully accessible and fillable. This will eliminate some of the post processing that is done to PDFs and reduce the time it takes to post a tax form to the IRS web site. This also eliminates duplication of work if for some reason the form needs to be reissued. Challenges The past several years have seen Congress pass late tax legislation about the same time the tax forms would be going ok-to-print. The normal development cycle of a tax form starts in January or February and the individual tax forms will usually go ok-to-print in October followed by the business tax products in November. This ensures that the form is fully developed and reviewed by all stakeholders, and that print vendors can produce the forms, instructions, and publications in time for the filing season to start on January 1. The 2005 tax product production season was particularly difficult because there was late tax legislation due to Hurricane Katrina and the storms that followed it. Congress passed the last piece of Hurricane Katrina related tax legislation the week before Christmas. Several new forms were created, including a jobs credit form for employers affected by Hurricane Katrina, and almost all of the tax forms were affected by the legislation in one way or another. Needless to say, the Fall production season for tax products can be very stressful. Other challenges include keeping up with the changing technical demands of the Publishing industry and educating ourselves and our customers. Computer skills are a valuable commodity. Design skills, attention to detail, diplomacy, etc., are all needed in order to get these forms developed. There are a lot of people who have their fingers in the development of most of the tax forms. Juggling the needs of the various IRS functions and other stakeholders can result in some difficult designs. Indeed, you need to like doing jigsaw puzzles to keep all of the pieces together.
Eric T. Thoele Income Tax Inequalities. Intermediate Macroeconomics EC3100 Rockhurst University. Dr. Gerald Miller 03/31/05
Eric T. Thoele Income Tax Inequalities Intermediate Macroeconomics EC3100 Rockhurst University Dr. Gerald Miller 03/31/05 Executive Summary 1) The Origin and History - This gives the basic background of
More informationTax Research: Understanding Sources of Tax Law (Why my IRC beats your Rev Proc!)
Tax Research: Understanding Sources of Tax Law (Why my IRC beats your Rev Proc!) Understanding Federal Statutes and Legislation Federal statutes provide the foundation of the tax system in the United States.
More informationWikiLeaks Document Release
WikiLeaks Document Release February 2, 2009 Congressional Research Service Report RL34660 Federal Government Debt Collection: An Overview of the Treasury Offset and Federal Payment Levy Programs Gary Guenther,
More informationDecision Making: Hamilton s Economic Policies Part 1: The Debt PROBLEM
Decision Making: Hamilton s Economic Policies Part 1: The Debt PROBLEM The year is 1790, and George Washington has been President under the new national government, The Constitution, for about a year.
More information1. Title: The Organizational Structure and Powers of the Federal Government as Defined in Articles I, II, and III of the U.S. Constitution Grade 5
Teacher s Name: Employee Number: School: SS.5.C.3.1 Describe the organizational structure (legislative, executive, judicial branches) and powers of the federal government as defined in Articles I, II,
More informationWithdrawal of Notice of Federal Tax Lien in Certain Circumstances. SUMMARY: This document contains final regulations relating to the withdrawal of
[4830-01-p] DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 301 [TD 8951] RIN 1545-AV00 Withdrawal of Notice of Federal Tax Lien in Certain Circumstances AGENCY: Internal Revenue Service
More informationCheryl Sullivan Wisconsin Department of Revenue. August 2004 FTA Technology Conference
Mandating E-Filing Cheryl Sullivan Wisconsin Department of Revenue Dick Eppleman Vertex August 2004 FTA Technology Conference E-Filing Mandates- Background Wisconsin s experience in implementing its e-filing
More informationGAO TAX ADMINISTRATION. Electronic Filing s Past and Future Impact on Processing Costs Dependent on Several Factors
GAO United States General Accounting Office Report to the Chairman, Subcommittee on Oversight, Committee on Ways and Means, House of Representatives January 2002 TAX ADMINISTRATION Electronic Filing s
More informationLICENSING & PERMITS LAS VEGAS, NORTH LAS VEGAS, HENDERSON, BOULDER CITY, MESQUITE AND CLARK COUNTY
LICENSING & PERMITS LAS VEGAS, NORTH LAS VEGAS, HENDERSON, BOULDER CITY, MESQUITE AND CLARK COUNTY These are the suggested steps along with a listing and a brief description of each of the forms and filings
More informationBy Ms. SNOWE (for herself, Ms. LANDRIEU and Mr. BROWN of Massachusetts):
Small Business Tax Extenders Bill Introduced 1.31.2012 By Ms. SNOWE (for herself, Ms. LANDRIEU and Mr. BROWN of Massachusetts): S. 2050. A bill to amend the Internal Revenue Code of 1986 to extend certain
More informationRates of Tax 2013/14 Resident Individuals
July Supplement 2014 Rates of Tax 2013/14 Resident Individuals The following rates apply to individuals who are residents of Australia for tax purposes for the entire income year. 1 Tax Payable 2,3 0 18,200
More informationTax Research: Understanding Sources of Tax Law (Why my IRC beats your Rev Proc!)
Tax Research: Understanding Sources of Tax Law (Why my IRC beats your Rev Proc!) Understanding Treasury Regulations The U.S. Department of the Treasury, part of the executive branch of the U.S. government,
More informationUnit 4: Taxes. Read this unit including websites. You may want to take your own notes.
Taxes Read Chapter 4 in the text. Read Chapter 7 of The Financial Checkup. Read this unit including websites. You may want to take your own notes. Are taxes your favorite topic? They are not the favorite
More informationInstructions for Form 1116
2014 Instructions for Form 1116 Foreign Tax Credit (Individual, Estate, or Trust) Section references are to the Internal Revenue Code unless otherwise noted. Future Developments For the latest information
More informationA History of Controlled Foreign Corporations and the Foreign Tax Credit
A History of Controlled Foreign Corporations and the Foreign Tax Credit by Melissa Redmiles and Jason Wenrich A s U.S. corporations have expanded their businesses overseas in the last several decades,
More informationEXECUTIVE NOTE THE BANKRUPTCY (CERTIFICATE FOR SEQUESTRATION) (SCOTLAND) REGULATIONS 2010 SSI 2010/397
EXECUTIVE NOTE THE BANKRUPTCY (CERTIFICATE FOR SEQUESTRATION) (SCOTLAND) REGULATIONS 2010 SSI 2010/397 The above instrument was made in exercise of the powers conferred by sections 5(2B)(c)(ib) and 5B(5)(a),
More informationThe Patient Protection and Affordable Care Act ( ACA ) and Your Facility
The Patient Protection and Affordable Care Act ( ACA ) and Your Facility By Christine Garrity: Chief Administrative Officer & General Counsel for The Professional Golfers' Association of America President
More informationChapter 2 Democracy in the colonies
Chapter 2 Democracy in the colonies Learning Objectives Explain how self-government got its start in the colonies Explain the purpose of the Mayflower Compact. Describe the ways the Pilgrims practiced
More informationThe How-To Manual on Resolving your IRS Debt Through an Installment Agreement
The How-To Manual on Resolving your IRS Debt Through an Installment Agreement Introduction First thing is first. YOU ARE NOT ALONE IN THIS. Hundreds of thousands of people owe the Internal Revenue Service
More informationThe Structure and Function of the Legislative Branch Notes. Section 1: The Senate and the House of Representatives
Attachment A The Structure and Function of the Legislative Branch Notes Section 1: The Senate and the House of Representatives The Role of Congress Congress is the lawmaking or legislative body of our
More informationProgram History. Prior Law and Policy
Executive Summary Section 7623(b), providing for whistleblower awards, was enacted as part of the Tax Relief and Health Care Act of 2006 (the Act). For information provided to the Internal Revenue Service
More informationForming a More Perfect Union
27 Lesson Two Forming a More Perfect Union Introduction By 1786, it was apparent that the weaknesses inherent in the Articles of Confederation had to be addressed. A Constitutional Convention was convened
More informationRevolution and Independence d Life in colonial America Seven Years (French and Indian) War, 1756-6363 British demand for higher taxes to pay war debt
The Constitution I. Revolution and Independence d II. Articles of Confederation III. Constitutional Convention IV. Constitutional Basics V. Ratification VI. Constitutional Change Revolution and Independence
More informationDEPARTMENT OF THE TREASURY TECHNICAL EXPLANATION OF THE PROTOCOL BETWEEN THE UNITED STATES OF AMERICA AND
DEPARTMENT OF THE TREASURY TECHNICAL EXPLANATION OF THE PROTOCOL BETWEEN THE UNITED STATES OF AMERICA AND THE FRENCH REPUBLIC SIGNED AT WASHINGTON ON DECEMBER 8, 2004 AMENDING THE CONVENTION BETWEEN THE
More informationState of North Carolina Department of State Treasurer
RICHARD H. MOORE TREASURER State of North Carolina Department of State Treasurer State and Local Government Finance Division and the Local Government Commission T. VANCE HOLLOMAN DEPUTY TREASURER Memorandum
More informationIRS provides guidance on expanded in-plan Roth rollover feature
Important information Plan design IRS provides guidance on expanded in-plan Roth rollover feature Who s affected This information applies to sponsors of and participants in 401(k) plans, 403(b) plans and
More informationWhat are you trying to do, what are you asking for? You say you have been asking quietly for some time? What is the States proposing to do?
What are you trying to do, what are you asking for? The rules that provide for charities to reclaim tax on charitable donations are that tax can only be reclaimed on donations made to Guernsey Registered
More informationGlossary of Assessment Terms:
Glossary of Assessment Terms: Abatement A reduction or elimination of a tax or charge imposed by a governmental unit, applicable to property tax bills, motor vehicle excise taxes, fees, charges, and special
More informationDESCRIPTION OF THE CHAIRMAN S MARK RELATING TO MODIFICATIONS TO ALTERNATIVE TAX FOR CERTAIN SMALL INSURANCE COMPANIES
DESCRIPTION OF THE CHAIRMAN S MARK RELATING TO MODIFICATIONS TO ALTERNATIVE TAX FOR CERTAIN SMALL INSURANCE COMPANIES Scheduled for Markup by the SENATE COMMITTEE ON FINANCE on February 11, 2015 Prepared
More informationResidency for U.S. Income Tax Purposes by Jo Anne C. Adlerstein
Copyright 2014, American Immigration Lawyers Association. Reprinted, with permission, from AILA s Immigration Practice Pointers (2014 15 Ed.), AILA Publications, http://agora.aila.org. Residency for U.S.
More informationSUMMARY: This document contains temporary regulations that. authorize the Secretary of the Treasury to accept payment of
[4830-01-u] DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 301 [TD 8793] RIN 1545-AW38 Payment by Credit Card and Debit Card AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Temporary
More informationYour. Tax Dollar. Here s a quick overview of where your Tax Dollar went and how it was raised in the Fiscal year ended March 31, 2012
Your Tax Dollar Here s a quick overview of where your Tax Dollar went and how it was raised in the Fiscal year ended March 31, 2012 Table of Contents Transfer payments 3 Transfers to persons 4-6 Transfers
More informationEligible Personal Property Exemptions for Assessors
Eligible Personal Property Exemptions for Assessors In December of 2012 Governor Snyder signed into law Public Acts 397 through 403 and 406 through 408 of 2012. These Public Acts significantly changed
More information1st Session 114 22 A BILL TO AMEND THE INTERNAL REVENUE CODE TO EXCLUDE AMOUNTS RECEIVED UNDER WORK-LEARNING SERVICE PROGRAMS
114TH CONGRESS Calendar No. 45 REPORT " SENATE! 1st Session 114 22 A BILL TO AMEND THE INTERNAL REVENUE CODE TO EXCLUDE AMOUNTS RECEIVED UNDER WORK-LEARNING SERVICE PROGRAMS APRIL 14, 2015. Ordered to
More information2014 Tax Questionnaire
CLIENT: CBS Accountants CONTACT: Scott Burchfield PROJECT: CBS / Brand DATE: 15 June 2011 REF: Final ART 2014 Tax Questionnaire Make your 2014 Tax Return easy for just $275* Completing CBS Accountants
More informationInstructions for Form 8938
2015 Instructions for Form 8938 Statement of Specified Foreign Financial Assets Department of the Treasury Internal Revenue Service Section references are to the Internal Revenue Code unless otherwise
More informationBRIEF OVERVIEW OF PENNSYLVANIA PERSONAL INCOME TAX
CHAPTER 6: BRIEF OVERVIEW OF PENNSYLVANIA PERSONAL INCOME TAX TABLE OF CONTENTS I. OVERVIEW 2 II. TAX RATE...3 III. EIGHT CLASSES OF INCOME 3 A. Gross Compensation... 3 B. Interest... 4 C. Dividends...
More informationChapter 1 Legislative Background and Tax Reform
Chapter 1 Legislative Background and Tax Reform The Chinese tax system has recently developed closely to the economic growth of the country. The entry of China into the World Trade Organization (WTO) and
More information2015 FEDERAL BUDGET SUMMARY
2015 FEDERAL BUDGET SUMMARY April 21, 2015 TABLE OF CONTENTS Table of contents Introduction Personal Income Tax Measures Business Income Tax Measures Charities International Tax Notice to Users 2 2015
More information1st Session 114 16. Mr. HATCH, from the Committee on Finance, submitted the following R E P O R T. [To accompany S. 905]
114TH CONGRESS Calendar No. 39 REPORT " SENATE! 1st Session 114 16 A BILL TO AMEND THE INTERNAL REVENUE CODE OF 1986 TO INCREASE THE LIMITATION ON ELIGIBILITY FOR THE ALTERNATIVE TAX FOR CER- TAIN SMALL
More informationRegional Tribal Tax Meeting May 17-18, 2012
Regional Tribal Tax Meeting May 17-18, 2012 National Congress of American Indians Intertribal Tax Initiative Update & The General Welfare Exclusion as Applied to Indian Tribes Intertribal Tax Initiative
More informationThe Revenue and Taxpayer Impacts of the Income Tax Provisions of SB 407
The Revenue and Taxpayer Impacts of the Income Tax Provisions of SB 407 Tax Policy and Research Montana Department of Revenue December 2006 Executive Summary Senate Bill 407, enacted in the 2003 legislative
More informationIRS NOTICES The notice you receive from the IRS covers a very specific issue about your tax return, generally IRS will send you a notice if.
IRS NOTICES The notice you receive from the IRS covers a very specific issue about your tax return, generally IRS will send you a notice if..they believe you owe additional taxes.you are due a larger refund.there
More informationCrunch or Crucible? Upcoming Changes in the Federal Tax Law A Special Edition Tax Guide for Friends and Alumni of Pomona College
Upcoming Changes in the Federal Tax Law A Special Edition Tax Guide for Friends and Alumni of Pomona College Pomona College, Office of Trusts & Estates, 550 N. College Ave., Claremont, CA 91711 www.pomona.planyourlegacy.org
More informationREQUEST FOR COMMENTS REGARDING THE EXCISE TAX ON AMOUNTS PAID FOR THE RIGHT TO PROVIDE MILEAGE AWARDS
Part III - Administrative, Procedural, and Miscellaneous REQUEST FOR COMMENTS REGARDING THE EXCISE TAX ON AMOUNTS PAID FOR THE RIGHT TO PROVIDE MILEAGE AWARDS Notice 2015-76 SECTION 1. PURPOSE The Treasury
More informationForeign Account Tax Compliance Act Frequently Asked Questions
FATCA - The Basics (an overview) 1. What is FATCA? FATCA, which became effective July 1, 2014, stands for the Foreign Account Tax Compliance Act. It was created by the U.S. Internal Revenue Service (IRS)
More informationSENATE CONCURRENT RESOLUTION No. 101 STATE OF NEW JERSEY. 213th LEGISLATURE INTRODUCED MAY 8, 2008
SENATE CONCURRENT RESOLUTION No. 0 STATE OF NEW JERSEY th LEGISLATURE INTRODUCED MAY, 00 Sponsored by: Senator SHIRLEY K. TURNER District (Mercer) SYNOPSIS Proposes constitutional amendment to permit Legislature
More informationYOUR TAX DOLLAR. Here s a quick overview of where that money went and how it was raised.
YOUR TAX DOLLAR For the fiscal year ended March 31, 2014, Canada s federal government spent $276.8 billion. That represents roughly 15 per cent of our country s $1.9-trillion economy. Here s a quick overview
More information2008 Tax Year (Filed in 2009 or 2010)
CHARITABLE ORGANIZATIONS UPDATES AND REMINDERS FOR 2009 New Form To Be d For Tax Years Ending In 2008: The new Form series returns are effective for 2008 tax years (returns filed beginning in 2009). To
More informationWhat an employer should know about Health Care Reform
What an employer should know about Health Presented By David L. Fear, Sr. RHU NAHU Education Foundation Sponsored by PPACA - history Signed into law in March, 2010 2,700 page rough draft became the law
More informationDESCRIPTION OF THE TAXPAYER PROTECTION ACT OF 2007
DESCRIPTION OF THE TAXPAYER PROTECTION ACT OF 2007 Scheduled for Markup By the HOUSE COMMITTEE ON WAYS AND MEANS on March 28, 2007 Prepared by the Staff of the JOINT COMMITTEE ON TAXATION March 26, 2007
More informationTREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION
TREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION Procedures Need to Be Updated to Ensure Proper Determinations of Tax Relief for Taxpayers Affected by Disasters February 16, 2012 Reference Number: 2012-40-015
More informationGUIDE TO OHIO S SCHOOL DISTRICT INCOME TAX Prepared by THE OHIO DEPARTMENT OF TAXATION JUNE 2013 TABLE OF CONTENTS
Gui det oohi o s SchoolDi st r i ct I ncometax Updat edjune2013 GUIDE TO OHIO S SCHOOL DISTRICT INCOME TAX Prepared by THE OHIO DEPARTMENT OF TAXATION JUNE 2013 TABLE OF CONTENTS General Filing On the
More informationCosts of Major U.S. Wars
Stephen Daggett Specialist in Defense Policy and Budgets June 29, 2010 Congressional Research Service CRS Report for Congress Prepared for Members and Committees of Congress 7-5700 www.crs.gov RS22926
More informationDESCRIPTION OF THE CHAIRMAN S MARK OF A PROPOSAL TO CLARIFY SPECIAL RULE FOR CERTAIN GOVERNMENTAL PLANS
DESCRIPTION OF THE CHAIRMAN S MARK OF A PROPOSAL TO CLARIFY SPECIAL RULE FOR CERTAIN GOVERNMENTAL PLANS Scheduled for Markup by the SENATE COMMITTEE ON FINANCE on February 11, 2015 Prepared by the Staff
More informationVARIOUS TAX TOPICS. Martin Barnard Presenter
VARIOUS TAX TOPICS Martin Barnard Presenter Provisional Tax Write-Off Loans Write off of Loans Inter Co loans not able to repay the loan or, in a group context where the group wishes to clean up its inter-group
More informationInstructions for Form 1116
2005 Instructions for Form 1116 Foreign Tax Credit (Individual, Estate, or Trust) Section references are to the Internal Revenue Code unless otherwise noted. Department of the Treasury Internal Revenue
More informationHow to Apply for a Patent
How to Apply for a Patent A Guide for FRC and FTC Teams applying for the FIRST Future Innovator Award presented by the Abbott Fund You need not file a patent application on your idea in order to compete
More informationInitiative Measure No. 1366 filed January 5, 2015
Initiative Measure No. 1366 filed January 5, 2015 2/3 CONSTITUTIONAL AMENDMENT COMPLETE TEXT AN ACT Relating to taxes and fees imposed by state government; amending RCW 82.08.020, 43.135.031, and 43.135.041;
More informationFederal Income Tax Laws For High School Students
Publication 4 Cat. No. 46073X Department of the Treasury Internal Revenue Service Student's Guide to Federal Income Tax For use in preparing 2000 Returns Contents Important Changes... 1 Important Reminders...
More informationNo one likes paying taxes, especially when they aren t sure how they re figured or where the money goes. For property owners, coming up with that one
No one likes paying taxes, especially when they aren t sure how they re figured or where the money goes. For property owners, coming up with that one or two large payments each year feels more painful
More information26 CFR 1.1032-1: Disposition by a corporation of its own capital stock. (Also 701, 704, 705, 721, 722, 723, 1001, 1011; 1.701-2(e), 1.704-3.
Part I Section 1032. Exchange of Stock For Property 26 CFR 1.1032-1: Disposition by a corporation of its own capital stock. (Also 701, 704, 705, 721, 722, 723, 1001, 1011; 1.701-2(e), 1.704-3.) Rev. Rul.
More informationTREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION
TREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION Suspended E-File Providers Were Not Adequately Assisted With Reinstatement of Electronic Filing Privileges July 10, 2007 Reference Number: 2007-40-114
More informationChapter 9 Practice Test Multiple Choice Identify the choice that best completes the statement or answers the question.
Chapter 9 Practice Test Multiple Choice Identify the choice that best completes the statement or answers the question. 1. The authority to levy a federal tax comes from a. the Fifth Amendment. c. an act
More informationIncome Tax Newsletter December 2005
www.taxes.state.mn.us Income Tax Newsletter December 2005 Individual income tax Form 1099-G refund information The Department of Revenue no longer mails Form 1099-G, Record of Income Tax Refund, except
More informationTREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION
TREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION Many Taxpayers Are Still Not Complying With Noncash Charitable Contribution Reporting Requirements December 20, 2012 Reference Number: 2013-40-009 This
More informationAn Employer s Guide to Income Withholding for Child and Medical Support
An Employer s Guide to Income Withholding for Child and Medical Support Kentucky Cabinet for Health and Family Services Department for Community Based Services Division of Child Support chfs.ky.gov Table
More informationInstructions for Form 1116 Foreign Tax Credit (Individual, Estate, or Trust)
2009 Instructions for Form 1116 Foreign Tax Credit (Individual, Estate, or Trust) Department of the Treasury Internal Revenue Service Section references are to the Internal K-1 (Form 1041), Schedule K-1
More informationCOALITION PROVISIONAL AUTHORITY ORDER NUMBER 49 TAX STRATEGY OF 2004
COALITION PROVISIONAL AUTHORITY ORDER NUMBER 49 TAX STRATEGY OF 2004 Pursuant to my authority as Administrator of the Coalition Provisional Authority (CPA), and under the laws and usages of war, and consistent
More informationBudget 2014 26 February 2014
1 Budget 2014 Budget 2014 26 February 2014 The Minister of Finance, Mr Pravin Gordhan, today announced a revised consolidated net tax revenue estimate for 2014/2015 of R997,7 billion and a slightly reduced
More informationSmall Business Tax Saving Strategies for the 2012 Filing Season
Small Business Tax Saving Strategies for the 2012 Filing Season Few business sectors embody today s entrepreneurial spirit, drive for innovation and unwavering perseverance more than the small business
More informationINCOME TAXES. Government (public) spending, federal income taxes, state income taxes, marginal vs. average tax rates, tax planning
Grades 9-12 Lesson 9 INCOME TAXES Key concepts: Government (public) spending, federal income taxes, state income taxes, marginal vs. average tax rates, tax planning Summary: This lesson introduces students
More informationIncome Tax Issues Affecting Small Nonprofit Organizations
Income Tax Issues Affecting Small Nonprofit Organizations A free resource provided by the Virginia Society of Certified Public Accountants 2 Income Tax Issues Affecting Small Nonprofit Organizations A
More information1965 Alabama Literacy Test
1965 Alabama Literacy Test 1. Which of the following is a right guaranteed by the Bill of Rights? Public Education Employment Trial by Jury Voting 2. The federal census of population is taken every five
More informationFINANCE ACT 2011 VALUE-ADDED TAX NOTES FOR GUIDANCE
FINANCE ACT 2011 VALUE-ADDED TAX NOTES FOR GUIDANCE Issued by VAT Policy and Legislation Branch, February 2011 55. Interpretation (Part 3) This section defines the Principal Act as the Value-Added Tax
More information2015 FEDERAL BUDGET. Tax highlights from the 2015 federal budget. By Jerry S. Rubin, B.E.S., B.Comm.(Hons), CMA, TEP, CFP
2015 FEDERAL BUDGET By Jerry S. Rubin, B.E.S., B.Comm.(Hons), CMA, TEP, CFP Tax highlights from the 2015 federal budget Finance Minister Joe Oliver tabled the 2015 federal budget on April 21, 2015. The
More informationRegulatory Impact Statement
Regulatory Impact Statement Requiring non-resident IRD number applicant to have a New Zealand bank account Agency Disclosure Statement This Regulatory Impact Statement has been prepared by Inland Revenue.
More informationMINNESOTA S EXPERIENCE IN REVISING ITS JUVENILE CODE AND PROSECUTOR INPUT IN THE PROCESS September 1997
MINNESOTA S EXPERIENCE IN REVISING ITS JUVENILE CODE AND PROSECUTOR INPUT IN THE PROCESS September 1997 In 1991, Minnesota began a major effort to substantially revise the laws governing our juvenile justice
More informationCommittee to Transform Michigan A Petition Drive to Put Three Proposals on the 2012 Ballot
Committee to Transform Michigan A Petition Drive to Put Three Proposals on the 2012 Ballot Business Plan Introduction... 2 Approach... 3 Budget... 6 Committee to Transform Michigan P.O. Box 80978, Lansing,
More informationTREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION
TREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION The External Leads Program Results in the Recovery of Erroneously Issued Tax Refunds; However, Improvements Are Needed to Ensure That Leads Are Timely
More informationSmall Business Jobs Act - Revenue Management and Tax Advantages
Provisions to Promote Access to Capital Summary of the Small Business Jobs Act June 29, 2010 100% Exclusion of Small Business Capital Gains. Generally, non-corporate taxpayers may exclude 50 percent of
More informationTITLE I QUALIFIED ABLE PROGRAMS
Summary of H.R. 647, the Achieving a Better Life Experience (ABLE) Act of 2014 (As Amended and Expected to Be Considered by the House) December 1, 2014 TITLE I QUALIFIED ABLE PROGRAMS Sec. 101. Purposes.
More informationConsultation Agreement and Acknowledgement of Receipt of Disclosures and Instructions
Please Note: These Notices are required by legislation adopted by Congress in October 2005, after intense lobbying by the credit industry. In my opinion, these notices are designed to scare and intimidate
More informationThursday, June 16, 2005 Washington, DC
STATEMENT OF COMMISSIONER RICHARD GREGG U.S. DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE BEFORE THE UNITED STATES SENATE HOMELAND SECURITY AND GOVERNMENTAL AFFAIRS PERMANENT SUBCOMMITTEE ON
More informationSTATE OF NEW YORK COMMISSIONER OF TAXATION AND FINANCE. Petitioner submits the following facts as the basis for this Advisory Opinion.
New York State Department of Taxation and Finance Taxpayer Services Division Technical Services Bureau STATE OF NEW YORK COMMISSIONER OF TAXATION AND FINANCE ADVISORY OPINION PETITION NO. S941017B On October
More information2015 No. 1810 INCOME TAX. The Scottish Rate of Income Tax (Consequential Amendments) Order 2015
S T A T U T O R Y I N S T R U M E N T S 2015 No. 1810 INCOME TAX The Scottish Rate of Income Tax (Consequential Amendments) Order 2015 Made - - - - 20th October 2015 Coming into force in accordance with
More informationBULLETIN 1992-01 MAY 1992 NEW FUNDING OPTIONS FOR 911 PHONE SYSTEMS
BULLETIN 1992-01 MAY 1992 INTRODUCTION NEW FUNDING OPTIONS FOR 911 PHONE SYSTEMS In 1985 the General Assembly enacted H.B. 491 which established a process and procedure for the establishment of 911 phone
More informationChapter 2. Key Issues
Chapter 2 Key Issues 2.1 As noted in chapter 1, the bill contains five schedules that propose to amend various taxation laws to: permit taxpayers to apply existing business restructure roll-overs when
More informationImportant Information Morgan Stanley SIMPLE IRA Summary
SIMPLE IRA Summary September 2013 Important Information Morgan Stanley SIMPLE IRA Summary The following is intended to provide you with basic information on the roles and services that Morgan Stanley Smith
More informationColonial Influences STEP BY STEP. OPTIONAL: A PowerPoint presentation is available to walk students through the activities in this lesson.
Teacher s Guide Colonial Influences Time Needed: One to two class periods Learning Objectives. Students will be able to: Materials Needed: Student worksheets, overhead or computer projector, scissors,
More informationClient Alert. Tax News and Developments
Tax News and Developments North America Client Alert November 17, 2015 Newly-Enacted Legislation Makes a Sweeping and Radical Overhaul to the Partnership Audit Rules and Will Likely Require a Revision
More informationTHE AMERICAN LAW INSTITUTE Continuing Legal Education
41 THE AMERICAN LAW INSTITUTE Continuing Legal Education American Taxpayer Relief Act: What You Need To Know for Tax Planning and Compliance January 22, 2013 Video Presentation Service Issues Proposed
More informationInstructions for Form 3800
2014 Instructions for Form 3800 General Business Credit Department of the Treasury Internal Revenue Service Section references are to the Internal Revenue Code unless otherwise noted. Future Developments
More informationWRITTEN TESTIMONY OF JOHN A
WRITTEN TESTIMONY OF JOHN A. KOSKINEN COMMISSIONER INTERNAL REVENUE SERVICE BEFORE THE HOUSE WAYS AND MEANS COMMITTEE SUBCOMMITTEE ON OVERSIGHT ON THE 2015 TAX FILING SEASON APRIL 22, 2015 Chairman Roskam,
More informationTREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION
TREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION Millions of Dollars in Potentially Improper Self-Employed Retirement Plan Deductions Are Allowed March 20, 2014 Reference Number: 2014-10-008 This report
More informationThe Evolution of Taxation of Split Dollar Life Insurance. by Christopher D. Scott. I. Introduction
The Evolution of Taxation of Split Dollar Life Insurance by Christopher D. Scott I. Introduction The federal government recently published final regulations and issued a revenue ruling that changes the
More informationPartnership Modernized e-file (MeF) Handbook for Tax Practitioners for Tax Year 2014
New York State Publication 96 Department of (11/14) Taxation and Finance Partnership Modernized e-file (MeF) Handbook for Tax Practitioners for Tax Year 2014 The information presented is current as of
More informationTREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION
TREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION Direct Debit Installment Agreement Procedures Addressing Taxpayer Defaults Can Be Improved February 5, 2016 Reference Number: 2016-30-011 This report has
More informationThe Scoop. Agenda. IRS Changes It s Tune 7/1/2015. Kristy Maitre Tax Specialist Center for Agricultural Law and Taxation July 1, 2015
The Scoop Kristy Maitre Tax Specialist Center for Agricultural Law and Taxation July 1, 2015 Agenda Refund Problem POA s New Letter to Practitioners Address Changes Electronic Tax Administration Advisory
More informationDESCRIPTION OF THE CHAIRMAN S MARK OF A PROPOSAL TO MODIFY THE EXCISE TAX ON CIDER
DESCRIPTION OF THE CHAIRMAN S MARK OF A PROPOSAL TO MODIFY THE EXCISE TAX ON CIDER Scheduled for Markup by the SENATE COMMITTEE ON FINANCE on February 11, 2015 Prepared by the Staff of the JOINT COMMITTEE
More information