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New On The Network Today
This feed is published daily with selected new or updated
content from across our network. For a list of network sites, many of
which feature daily news, see below. |
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| 29/07 New
Lowtax Editor Column, by Kitty Miv |
| 28/07 New
PBTG Editor Column, Caroline, PBTG editor |
| 27/07 UK Launches Raft Of Tax Consultations, Tax-News.com |
| 26/07 Fat
Tax On The Menu
, Jeremy Hetherington-Gore blog entry |
| 23/07 Sarkozy Seeks 'Fiscal Convergence' With Germany, Tax-News.com |
| 20/07 Singapore
Base For Tuvalu OIFC, Tax-News.com |
| 19/07 Expats
Turn Backs On US Taxes, Tax-News.com |
| 16/07
Congress Approves US Financial Reform Bill, Tax-News.com |
| 15/07 New
Lowtax Editor Column, by Kitty Miv |
| 15/07 St
Vincent & The Grenadines, Investors Offshore special feature |
13/07 Tax-News.com
Jersey Review 2010-2011 |
| 12/07 Goodbye
To All That, Jeremy Hetherington-Gore blog entry |
| 09/07
Antigua Pursuing Trade Sanctions Against US, Tax-News.com |
| 08/07 New
Lowtax Editor Column, by Kitty Miv |
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06/07 Hong
Kong Full PBTG Guide, added to Personal Business Tax Guide |
| 05/07
Australian Mining Tax Agreement Reached, Tax-News.com |
| 02/07 Online
Trading For Expats, Investors Offshore special feature |
| 29/06 EC
To Extend Common System Of VAT, Tax-News.com |
| 28/06
Lowtax Dubai, annual update |
| 25/06 Jersey
Considers Tax Future, Tax-News.com |
| 22/06 VAT
Hiked In UK Emergency Budget, Tax-News.com |
| 21/06 Steady
Progress In TPP Negotiations, Tax-News.com |
| 18/06 Singapore
- Another Hong Kong?, Investors Offshore special feature |
| 15/06 Swiss
Parliament Approves UBS Agreement, Tax-News.com |
| 14/06 Ethical
Moonshine, Penelope Wise blog entry |
| 11/06 Germany
Purchases Stolen Tax Data Disc, Tax-News.com |
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08/06 Dubai
Full PBTG Guide, added to Personal Business Tax Guide |
| 07/06 G-20
Shelves Global Bank Tax, Tax-News.com |
| 04/06
Lowtax Panama, annual update |
| 01/06
Lowtax Luxembourg, annual update |
| 31/05
OECD And EU Strengthen Tax Cooperation, Tax-News.com |
| 28/05
Lowtax Guernsey, annual update |
| 25/05
Lowtax Jersey, annual update |
| 24/05 Lithuania
Summary PBTG Guide, added to Personal Business Tax Guide |
| 21/05
Lowtax Liechtenstein, annual update |
| 18/05 Latvia
Summary PBTG Guide, added to Personal Business Tax Guide |
| 17/05 Offshore
And The Euro, Jeremy Hetherington-Gore blog entry |
| 14/05 IO
Focus: Barbados, Investors Offshore special feature |
| 03/03
Personal Business
Tax Guide, PBTG, has launched! |
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| Providing essential tax news and information for globally
mobile artists, contractors, entrepreneurs, professionals, small businesses,
sportspersons and entertainers. |
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| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
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| IRS Offers Help To Struggling Taxpayers |
by Leroy Baker, Tax-News.com, New York
Sunday, March 14, 2010
The US Internal Revenue Service (IRS) has announced several additional steps
it is taking this tax season to help people having difficulties meeting
their tax obligations because of unemployment or other financial
problems.
The steps, an expansion of efforts that began more than a year ago,
include additional flexibility on offers in compromise for struggling
taxpayers, extra opportunities to work out tax problems face to face
with the IRS, special outreach with partner groups to unemployed
taxpayers and the availability of more information on a special section
of the IRS website.
“Times are tough for many people, and the IRS wants to do everything
it can to help people who have lost their job or face financial
strain,” IRS Commissioner Doug Shulman said. “We continue to make
adjustments to key programs and expand ways for people to get help.
We’re doing everything we can to help ease the burden on struggling
taxpayers.”
Specifically, IRS employees will be permitted to consider a
taxpayer’s current income and potential for future income when
negotiating an offer in compromise - an agreement between a taxpayer
and the IRS that settles the taxpayer’s debt for less than the full
amount owed. Normally, the standard practice is to judge an offer
amount on a taxpayer’s earnings in prior years. The IRS may also
require that a taxpayer entering into such an offer in compromise agree
to pay more if the taxpayer’s financial situation improves
significantly.
In addition, IRS will hold hundreds of special Saturday open houses
to give struggling taxpayers more opportunity to work directly with IRS
employees to resolve issues. During these sessions, taxpayers will be
able to address economic hardship issues they may be facing or get help
claiming any of the special tax breaks in last year’s American Recovery
and Reinvestment Act, including the homebuyer tax credit, the American
Opportunity Credit, the Making Work Pay credit, and the Expanded Earned
Income Tax Credit.
The IRS is also working and coordinating with state departments of
revenue and state workforce agencies to help taxpayers who are having
problems meeting their tax liabilities because of unemployment or other
financial problems. These coordinated efforts may include opportunities
for taxpayers to make payment arrangements and resolve both federal and
state tax issues in one place.
In addition, the IRS has said that it will accelerate lien relief
for homeowners if a taxpayer cannot refinance or sell a home because of
a tax lien. As previously announced, a taxpayer seeking to refinance or
sell a home may request the IRS make a tax lien secondary to the lien
by the lending institution that is refinancing or restructuring a loan.
The taxpayer may also request the IRS discharge its claim if the home
is being sold for less than the amount of the mortgage lien under
certain circumstances.
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| THE LOWTAX LIBRARY
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most authoritative business and investment information sources. Alongside
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