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Archive for the ‘Tax Return Deadline’ Category

PPC 2007 Individuals and Entities Federal Tax Update (Gear Up) PPC 2007 Individuals and Entities Federal Tax Update…

Highlights of the February 2011 issue

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Question: Fedral taxation help?

In 2007, Paul who is single has a comfortable salary from his job as well as income from his investment portfolio. However, he is habitually late in filing his federal income tax return. He did not file his 2007 income tax return until November 30, 2008 (due date was April 15, 2008) and no extensions of time to file return were filed. Below are amounts from his 2007 return:
Taxable Income $140,000
Total tax liability on taxable income$ 33,311
Total federal tax withheld from his salary$ 27,290
Paul sent a check with his return to the IRS for the balance due of $6,021. He is relieved that he has completed his filing requirement for 2007 and has met his financial obligation to the government for 2007. Has Paul met all of his financial obligations to the IRS for 2007? If not, what additional amounts will Paul be liable to pay to the IRS?

Answer: No, Paul has not met all of his financial obligations because there will be interest and penalties for not filing his ‘07 return until November 30,2008 (calculating this should be simple & can be found in your book) When you fail to file a return, you cannot simply pay the balance due at your leisure, hence the interest and penalties. Good luck w/ your tax class.

Vancouver judge releases reason for Ian Thow sentencing

A Vancouver Provincial Court judge released his reasons for sentencing against convicted investment adviser Ian Thow.

President’s HHS budget for FY 2012 (02/14/2011 Press Conference)

Question: Can Employers Charge Money for W-2’s?

In 2006 I worked for a retail company. I never recieved my W-2 in the mail (the had an address on file that I never resided in and was definately not where my checks were sent to). Anyways, I got an e-mail from them saying I could print my W-2 out online for free until October 15th (or 17th can remember exact date). 2007. So I went to go print it out and it said it was $7.00 to print out a copy of your W-2. My 2006 income taxes are already over due and I have already filed for extensions, so I had no choice but to pay the $7 to get my W-2 so that I could send in the forms. Is that illegal? I could understand maybe paying for postage, but $7 to print it off the internet? I don’t understand how information that is yours and that you need, and that they sent to some random address, they could charge you for it?

Answer: My son had the same situation, but they charged him $25 to generate and mail a duplicate W-2. They probably have to provide the first copy for free, but if you “lose” that one they are allowed to charge a fee to cover administrative costs. They will say, of course, that they mailed it to the address you gave them, and how can you prove them wrong?

Maybe someday someone will put together a class action lawsuit . . . .

Heavitree Brewery – Final Results

Heavitree Brewery – Final Results

Effective 2.7.11 No More Lebanon County Switchboard Operators.wmv

Canadian Natural Resources Limited Announces 2011 First Quarter Results

CALGARY, ALBERTA–(Marketwire – May 5, 2011) – Commenting on first quarter results, Canadian Natural’s Chairman, Allan Markin stated, “Our primary heavy crude oil assets delivered record quarterly production supported by the expanded drilling program we continue to execute. Our teams continue to focus on safe, efficient and effective operations, especially during this year’s challenging Western …

Question: Can you tall me that Income tax due date is exted or which is the last date of Filly of Income tax?

Answer: Incomet tax due date has been extended for upto 30th nov, 2006. Pls note date has been extended for those assessees who were required to file ITR by 31st Oct, 2006.

AXIS Capital Reports Operating Income of $187 Million for the Fourth Quarter and $627 Million for the Full Year 2010

AXIS Capital Holdings Limited today reported net income available to common shareholders for the fourth quarter of 2010 of $264 million, or $1.99 per diluted common share, compared with net income of $282 million, or $1.87 per diluted common share, for the fourth quarter of 2009.

Media Warned. Kanimozhi and her mother say they had nothing to do with Voltas land. .wmv