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In the tax law of the United States the claim of right doctrine causes a taxpayer to recognize income if they receive the income even though they do not have a fixed right to the income. For the income to qualify as being received there must be a receipt of cash or property that ordinarily constitutes income rather than loans or gifts or ...
Filing tax is stressful enough, from having to figure out how to fill out forms to getting the right documentation. ... 800-290-4726 more ways to reach us. Mail. Sign in. Subscriptions;
Tax returns, in the more narrow sense, are reports of tax liabilities and payments, often including financial information used to compute the tax. A very common federal tax form is IRS Form 1040 . A tax return provides information so that the taxation authority can check on the taxpayer's calculations, or can determine the amount of tax owed if ...
United States that the receipt of money obtained by extortion is taxable as income to the wrongdoer. [53] The U.S. Supreme Court ruled in James v. United States that the receipt of money obtained through embezzlement is taxable as income to the wrongdoer, even though the wrongdoer is required to return the money to its owner. [54]
Tax inversion is the process by which an American company moves the legal address of its headquarters outside the United States for the sole purpose of avoiding taxes. Fifty major companies have ...
Davis v. Commissioner, T.C. Memo. 1978-12 (1978), [1] was a case in which the United States Tax Court held that in order to have constructive receipt, a taxpayer must have notice of the attempt to transfer funds to the taxpayer.
800-290-4726 more ways to reach us. Sign in. Mail. ... Expanded effort to uncover suspicious ERC claims. ... The option comes without any penalties or charges from the tax agency.
Tax protester Sixteenth Amendment arguments are assertions that the imposition of the U.S. federal income tax is illegal because the Sixteenth Amendment to the United States Constitution, which reads "The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration ...