Monthly Archives: December 2013

75% Tax Rate On Wages?

French 75% Tax Rate on Wages clears courts And you thought your taxes were high!   Check this out.  France, for the next two years, will tax wages in excess of $1.4 million  at a 75% tax rate.  A 50% duty will be paid by the employers, with the balance...
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New Sales Tax On Service Contracts

New Sales Tax On Service Contracts Effective January 1, 2014, businesses providing service contracts, including warranty agreements, maintenance agreements, repair contracts or similar agreements should carefully consider whether their contracts will be subject to NC sales tax.  If applicable, sales tax will apply to the sales price of a service contract...
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IRS eases strict “use-or-lose” rule for health flexible spending arrangements

Health flexible spending arrangements (health FSAs) are popular savings vehicles for medical expenses, but their use has been held back by a strict use-or-lose rule. The IRS recently announced a significant change to encourage more employers to offer health FSAs and boost enrollment. At the plan sponsor’s option, employees participating...
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December 2013 tax compliance calendar

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This tax compliance calendar summarizes important tax reporting and filing data for individuals, businesses and other taxpayers for the month of December 2013. December 2 Employers. Semi-weekly depositors must deposit employment...
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IRS latest business audit strategy includes Fast Track, new IDR processes

The IRS has made several changes to its examination (aka, “audit”) functions that are designed to expedite the process and relieve some burden on business taxpayers. These include the expansion of the Fast Track Settlement (FTS) program for small business, self-employed (SB/SE) taxpayers and a new process for issuing information...
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