Under Internal Revenue Code “IRC” Section 1446, a partnership of this sort may be made up of any kind of foreign corporation, international organization, non-resident individual or foreign estate or trust. Any partnership that falls under the definition of 1446 must pay the required withheld taxes mandated by the IRS.
If you have not filed your tax returns for years and now you owe lots of money to the IRS, there are ways to deal with this issue but the best advice is to contact a tax attorney so they can explain all of the different steps and hopefully lower some of the money you owe.
In Florida, JTWROS means that the full title to property goes to the owner that survives. The “survivor” of the joint owner automatically owns 100% of the asset when the other joint owner passes away.
Both a private and public charity are actually very similar in nature, the only small difference between the two is the manner in which funds are attained by the organization.
To qualify for the homestead exemption, a person must meet certain requirements and a person may lose their homestead exemption if the requirements of the statute are not met every year.
President Trump signed the Tax Cuts and Jobs Act (“TCJA”) into law on December 22, 2017, which brought many changes to the Internal Revenue Code (“IRC”). The changes made have affected many taxpayers in different ways.
The Internal Revenue Code provides business owners an income deduction when reporting their qualified trade or business’ income, also known as a qualified business income.
GRAT, short for Grantor Retained Annuity Trust, is a type of irrevocable trust that alleviates the tax cost of passing assets to your beneficiaries.
The main difference between Form 1023-EZ and Form 1023 is the information required from the organization and the time for approval. Form 1023 is used by organizations that are bigger and expect to receive more than $50,000 in the following three years. While Form 1023-EZ is three pages, Form 1023 is 26 pages!
Car ownership should always be considered when thinking of estate planning. There are different options to how a person should approach dealing with their vehicle and an estate plan.
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This is a quick legal reference guide covering 16 topics that every business owner needs to have to start a business
