There is a new system called the IRS Fresh Start Program which aims to make it easier for people to pay back taxes and avoid a lien coming against them. There are three major parts to the IRS program. Tax liens, installment agreements and offers of compromise are the three features of the program.
The program increases the amount a person can owe before the IRS will file a notice of federal tax lien. Even though the IRS can file before the 10,000 limit this does increase it for the average person.
The IRS has also agreed to more installment options. One can file for an installment plan right over the internet. This could increase monthly payments for up to six years. If the agreement needs to be extended for longer than six years, financial hardship would have to be shown to the IRS.
Offers in Compromise are another agreement for taxpayers to be able to pay off debt but at a lesser amount. The IRS is now more flexible in its way to look at the taxpayers ability to pay. Generally the IRS will accept an offer if they feel it is a fair amount for a reasonable amount of time offered.
This new program will hopefully help taxpayers starting with the 2012 taxes. With compromise from both the IRS and the taxpayer all parties can be satisfied. The taxpayers will also feel less likely that they are being targeted and forced to pay amounts that they can never reach.
Mergers and Acquisitions and Their Tax Consequences
Has a chemical M&A department contacted you to see if you would be interested in a merger? The other company is going to make it sound like it is all in your best interests, showing how joining forces gives you both the ability to reach more customers and make more sales. However, there are some important questions to ask before you go forward with this process.
First of all, you need to know who is going to be in charge. Are you going to be surrendering complete control of your company or will you still be allowed to make some decisions? You always need to know what your role is going to be in order to ensure that it is something that you want to do.
Next, ask how this merger will specifically help you. Do not take generic answers about how it will make things easier or more profitable. Look for the specific ways that the merger can help. Look at exactly what the other company can do for you that you cannot do for yourself.
Finally, you need to find out what is in it for you in the short term. Are they willing to buy you out, giving you a lump sum right at the beginning? Are they only offering you the benefit of earnings in the future, banking on the fact that it will all work out? You should know what you stand to get in the short term and in the long term before you agree.
If you live in Hawaii, you’re truly living the high life. The soothing effects of the sea breeze will have a calming effect on the soul, and there’s something about the flora and fauna that transport you to another world. Hawaii is the perfect mash-up of rising industry and natural beauty. You may think that it’d be difficult to hold stress in a place that so many people vacation to for escape, but it’s still possible, especially when it comes to financial woes.
Tax time can be particularly stressful, and if you’re self-employed you may be at a loss of where to begin. That’s why professional services are available. They’ll provide the help you need to get the ball rolling right so that the hard part is behind you. One option is CPA Honolulu at Yuda.com. You can contact them online or over the phone for a consultation. They specialize in not only tax preparation, but accounting and consultation for blossoming businesses. Perhaps you’ve got an idea for your own business that you’ve been itching to start, and yet you’re not really sure what the best choices are moving forward. Hawaii is an excellent place for commerce. Tourism prompts a great deal of opportunity, and with the help of a certified public accounting firm, you can get all the advice you require to make your dreams come true. You can also get advice on investment opportunities as well. The last thing you want to do is invest in a venture that won’t get off the ground, and these professional services assist.
Filing Free 2012 Taxes Online: What You Need To Know
Are you interested in filing free 2012 taxes online? If so, you should know that TurboTax 2013 is the very best way to do it. This program makes it easier than ever to figure out your taxes so that you will not have to pay to go to an expensive CPA. Do you want to take home more of your return this year? Do not give it to someone to do work that you can do from your home computer. TurboTax comes with a number of features that are designed to make things simple for anyone, even if you do not have tax experience or education.
First of all, when you begin filing free 2012 taxes online, you get the option to save your work at any point. As you probably know from trying to sort through your taxes in the past, this whole process can take hours. Maybe you just want to use TurboTax 2013 for an hour a night, taking two or three days to get done. If you do not have a lot of free time between going to work and spending time with your family, you can just put in the time that you have and then save your work to pick it up later. You can cater the filing process to your schedule.
Next, you should know that filing free 2012 taxes online means that you do not have to print anything out, buy postage, and mail it to the IRS. You can use TurboTax 2013 to file electronically, which takes just seconds. This eliminates the risk of your paperwork getting lost in the mail and means that you could see your return much sooner than you would with the traditional process.
Finally, filing free 2012 taxes online means that you get to use powerful software that walks you through the process. Everything is phrased as a question, making it easy to understand. If you are still confused, TurboTax 2013 comes with an entire help section for clarification. No longer will taxes be the confusing mess that the paper forms have been in the past.
Intuit Expected To Announce Lackluster Quarterly Earnings
Intuit is preparing to announce its quarterly earnings on May 21. Recently, the company softened its earnings outlook in a note to shareholders. Investors won’t treat the company very well when it announces lackluster earnings. That doesn’t mean Intuit has lost its value for investors, though. These days, the parent company of TurboTax still has room to grow. It’s already planning changes in the coming years, too. Like my favorite local company, Hollier’s Flooring America in Lafayette, Intuit is able to adapt and offer great products every year. And this last year was no different.
Intuit earnings for the previous quarter are likely to take a slight dip. A lower volume of processed tax returns was cited as the cause for the impending dip in revenue. Of course, tax preparation is a huge industry with tons of competition. TurboTax isn’t the only company that offers free and paid returns either. By expanding beyond this industry, Intuit earnings and growth can continue.
Luckily, Intuit is already pushing projects outside of TurboTax. The company wants to appeal to businesses on top of consumers in order to boost Intuit earnings. Payroll services and mobile banking applications are prime targets for Intuit. By moving into these segments, revenue can be boosted with a new segment of customers. Success isn’t guaranteed with this bold moves, though.
Intuit’s quarterly earnings might falter, but the company shouldn’t be counted out yet. Sure, most of its revenue is generated by TurboTax, but the company holds enough resources to branch out elsewhere. Investors should stick with the company while it transitions to other projects. TurboTax will always be its main source of income. In the end, other projects can rake in the money, too.
Intuit TurboTax recently announced that they have exceeded their $2 million goal to support US troops. This campaign was launched in part with Mission2Match and Operation Homefront and raised over $1 million from direct donations alone. The money will be used to support U.S. troops and their families.
Operation Homefront is a countrywide non-profit association. Since its humble beginnings in 2002, this organization has helped more than 590,000 military families. With 94 percent of donated revenue going directly to help service members and their families, this charity has a four-star rating with Charity Navigator, a charity watchdog.
Monies were raised each time a donation was made to Mission2Match through online TurboTax. However, donations went even further with the help of social media. Each time donors tweeted #mission2match, their donation was matched.
TurboTax has a long been a financial supporter of military members and their families. They are proud of their partnership with their customers as well as Operation Homefront. Money raised goes to help families of troops who have been wounded or otherwise unable to work after returning home, such as Air Force Sgt. Angelo Rodriguez who lost his memory after his time serving and could no longer walk or talk. Thanks to generous donations, Rodriguez and his family now have a place to live and a fresh beginning. Many other military members and families will directly benefit from the generous donations of Turbo Tax users. These donations are a very tangible way to express thanks and support to U.S. troops.