The Tax Preparation Blog

Posts Tagged ‘due’

Question: Are Astronauts required to file tax return?

I want to be an astronaut (hopefully after I finish this community college some day). So when I go on NASA space shuttle mission that lasts for years, are they expecting me to file a tax return when I return to Earth. I wasn’t even living in the world, I wasn’t using your streets, food or drink. What if the shuttle’s return to Earth was delayed after April 15 due (tax due date) due to solar flares or bad weather prevented the safe reentry of the space shuttle?
I don’t think I should be held liable!

Answer: We all have to file tax returns!

Former FF councillors on trial for corruption

FOUR former Fianna Fáil councillors and businessman Jim Kennedy are to face a criminal trial on charges of planning corruption related to the rezoning of lands in Carrickmines, Co Dublin, during the 1990s.

File your India tax return by July 31 2010

Question: If I received a tenant’s January 2009 monthly payment on 12/31/2008. Is that income for 2008 or 2009?

Does rent payment received for tax reasons go by the month that it is due (January 2009) or the date that the rent was received (12/31/08)? The contract is for rents to be due on the 1st of the month.

Answer: It depends on your accounting method. If you use cash accounting and you deposit the check 12/31, it’s 2008. If you use cash accounting and deposit it 1/1, it’s 2009. If you use accrual accounting, it’s 2008.

easyhome Ltd. Reports 2009 Fourth Quarter and Annual Results

MISSISSAUGA, ONTARIO–(Marketwire – March 9, 2010) – easyhome Ltd. (TSX:EH), Canada’s largest merchandise leasing company, today announced its unaudited results for the fourth quarter and full year ended December 31, 2009. F

Obama Budget – An “Unsustainable Course” – Deficit Spending, Taxing, Borrowing, Bankruptcy

Question: I filed my 2008 tax return late and accidently used a 2009 1040 form. Will they reject this?

I have all of the information correct, I just accidently printed a 2009 1040 form from the IRS site, and already sent it in with my W2s attached to it… will they send it back to me?

Answer: The IRS will return it without action since it’s too early to file a 2009 return.

IRS Tax Tips for 2010 tax season – #3

Eight Facts About Filing Status

Tips from the IRS – 2008 tax return–don’t miss out on free money!

A private placement offering memorandum is developed in order to carefully present the full risks and terms of an investment offer in a private company. The federal regulations regarding a private placement are laid out in various laws and acts which are well-documented on the internet. However, it is a mistake to proceed in creating your memorandum on this information alone. Blue sky laws (state laws regulating the sale of securities), must be consulted for the state you are incorporated in as well as states you will be selling the securities in.

State Power

The fact that the federal securities regulator, the SEC (Securities and Exchange Commission), exists does not preclude the states from regulating securities as well. For the most part, states focus their security regulation on the power to investigate and prosecute businesses for securities fraud. To avoid actual fraud and the suspicion of fraud as much as possible, a private placement memorandum must carefully and clearly disclose all of the risks associated with the offering.

Complicating the Process

The offering must be clearly exempted from registration by the blue sky laws, which may be more restrictive than the federal exemptions. About forty states model their securities law on the Uniform Securities Act of 1956, but the interpretation of these laws can vary from state to state. Even if full registration is not required, there are generally state forms (like the federal Form D) which must be filed.

The upside of the type of disclosures which must be made under blue sky laws is that meeting them will make your offering more transparent, better protecting your business from security fraud claims and perhaps even reducing the time involved for investor’s due diligence.

Conclusion

The effect of the complicated combination of federal and state laws affecting private placements is that experienced legal counsel must be obtained by any business hoping to raise equity capital this way.

Looking back at the top LM/Narberth stories of ‘09

Dogs finally have their day in LM parks: Jan. 7 — The new year brought a new breed of park to Lower Merion. Monday, Jan. 5, was the first day dog owners in the township could apply for and get permits to walk their pets off-leash in parts of two parks.

Nicolas Sarkozy Calls For Global Tax On Bankers Bonuses

Question: What is the last date of filing income tax return in India for assessment year 2008-09 for Individuals?

Is there any penalty if return filed after due date ?

Answer: The last date is July 31, 2008. After that on the tax due, you must pay interest at 1% per month.
Read

http://mytaxes.in/index.php?topic=16.0

Fitch Affirms Chugach Electric Association $270MM Series A at ‘A-’; Outlook Stable

NEW YORK—-Fitch Ratings affirms its ‘A-’ rating to the Chugach Electric Association, Inc.’s , $270 million in outstanding senior unsecured Series A bonds. The Rating Outlook is Stable.

BRAD PITT Katrina Recovery