The new tax law is supposed to be good for Americans. Yet, in an interesting twist, it could have a devastating impact on America’s favorite pastime.
Minnesota state taxes and foreign income: Impact of new tax law
Tax planning strategies can reduce a business’ tax obligations. One example involves keeping certain assets overseas. If the asset returned to the United States, a tax would be due. An asset that remained abroad was not subject to this tax.
Should you consider an Offer in Compromise with the IRS?
An Offer in Compromise (OIC) is one options that anyone struggling with tax debt may take into consideration. This option is basically an agreement between the Internal Revenue Service (IRS) and a taxpayer where the taxpayer offers the IRS a payment lower than the tax obligation. The IRS accepts the payment and forgives the remaining tax balance.
