ALL TAX RETURNS (BUSINESS, PERSONAL & INTERNATIONAL) CAN BE DONE BY FAX, EMAILS & PHONE INTERVIEW - CALL MIKE 954.893.1399 SHAWN 954.893.1397 @GLOBAL TAX GROUP INC.
Michael S Sarabjit, CPA, MST - Global Tax Group, Incorporated updated their cover photo.
May 16, 2014 at 3:45 PM ·
Tax Planning & Preparation - Free Consultation! Call 954-893-1399 today!
NREIONLINE.COM
U.S. Existing-Home Sales Increase to Fastest Pace Since 2006
Michael Sarabjit
September 27 at 6:39 PM ·
If Congress fails to pass an additional virus-relief package, “it doesn’t help” but the housing market “will remain strong” because of near record-low rates, Lawrence Yun, NAR’s chief economist, said on a call with reporters. “I do expect a further increase in sales for the remainder of the year. There’s plenty of buyers in the pipeline.”
Michael Sarabjit
September 27 at 6:39 PM ·
If Congress fails to pass an additional virus-relief package, “it doesn’t help” but the housing market “will remain strong” because of near record-low rates, Lawrence Yun, NAR’s chief economist, said on a call with reporters. “I do expect a further increase in sales for the remainder of the year. There’s plenty of buyers in the pipeline.”
Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.
He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.
NYTIMES.COM
Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
City of Pembroke Pines, Florida City Hall · Government Organization
September 5 at 12:45 PM ·
Have you applied for the Broward County's Rental Assistance Program?
Application deadline is TOMORROW, September 6th. Apply here ➡️ broward.org/cares
The application must be completed in one sitting. Please call 954-831-2380 for more information.
City of Pembroke Pines, Florida City Hall · Government Organization
August 31 at 12:00 PM ·
Broward County's Rental Assistance Program Has Launched!
Applications will be accepted daily from 8AM - 10PM online through September 6, 2020 at broward.org/cares
The application must be completed in one sitting. Please call 954-831-2380 for more information.
JOURNALOFACCOUNTANCY.COM
Guidance issued on payroll tax deferral
NYTIMES.COM
Opinion | The I.R.S. Is Outgunned
Michael Sarabjit is at Michael S Sarabjit, CPA, MST - Global Tax Group, Incorporated.
October 2 at 4:03 PM · The New York Times ·
The president of the United States paid less in federal taxes than all but the poorest Americans the year he was elected. This is in large part because he lost more money than nearly anybody else in this country for years, a troubling fact given his promise to “run America like his business.”
But the responsibility for his meager $750 tax bill does not lie with President Trump alone, nor with his tax advisers. Instead, the newest revelations put a very famous face on a problem that has long existed: The wealthy aren’t paying what they owe, and our tax system allows it.
With the United States joining other governments in need of revenue to shore up budget shortfalls from the COVID-19 global pandemic, and with the US political climate trending toward a greater allocation of resources to tax enforcement, we forecast an upswing in US tax enforcement actions across numerous areas of tax law. Given the US government’s longstanding proclivity to “export” tax enforcement worldwide, moreover, this trend is likely to impact global financial centres, expatriates, and foreign individuals and companies doing business with the US.
IFCREVIEW.COM
US Tax Enforcement – A New Decade Begins
WEALTHMANAGEMENT.COM
Disclosing Clients' Foreign Holdings to the IRS
Michael Sarabjit is at Michael S Sarabjit, CPA, MST - Global Tax Group, Incorporated.
February 1 at 3:56 PM · Pembroke Pines, FL ·
Now Is the Time to Get Your Foreign Accounts In Order
The unmistakable trend since the early 2000s has been toward more aggressive IRS pursuit of those who fail to heed the reporting rules for offshore holdings, even unwittingly. The window of opportunity to transform the anxiety of delinquency into the peace of mind of compliance narrows every year.
Yet the picture is not all gloom and doom. Opportunities still exist to reduce non-filing penalties to a minimum by working with a financial expert who is intimately familiar with offshore account reporting requirements.
The Internal Revenue Service (IRS) has announced that tax season will open on Friday, February 12, 2021. Yes, on a Friday.
WHATSAPP
IRS Announces Filing Season Open Date (It’s Later Than Expected)
TAXGIRL.COM
What Is FATCA And The FBAR? Should You Be Filing A Foreign Account?
MIAMIHERALD.COM
No more anonymous home buyers: New law requires shell companies to name their owners
ACCOUNTINGTODAY.COM
IRS offers guidance on deducting PPP expenses
Michael Sarabjit is with Shawn Sarabjit at Michael S Sarabjit, CPA, MST - Global Tax Group, Incorporated.
January 13 at 9:51 PM · Accounting Today ·
The Internal Revenue Service and the Treasury Department released guidance Wednesday on claiming deductions for expenses associated with Paycheck Protection Program loans that have been forgiven.
The guidance in Revenue Ruling 2021-02 also reverses previous guidance issued last year by the IRS and the Treasury when Treasury Secretary Steven Mnuchin fiercely opposed the ability to deduct expenses related to forgiveness of PPP loans. Industry groups, including the American Institute of CPAs, lobbied for the ability to write off such expenses, arguing it would help struggling businesses and was in line with congressional intent when the CARES Act was passed last year setting up the PPP loans as a way to get money quickly into the hands of desperate business owners. The latest coronavirus relief bill included a provision that allows the expenses to be deductible and revives the PPP with a fresh round of $284 billion in funding. It will allow expenses related to seeking forgiveness of the Small Business Administration-backed loans to be deducted by businesses that received the loans, so businesses will be able to engage accountants to help with the task of applying for PPP loan forgiveness.
