Tag Archives: internal revenue service

#AskAronson: “We received a form SS-8? What does that mean?”

A former worker treated as an independent contractor can ask the IRS to determine whether or not he or she should have been treated as an employee. A worker may decide to file this form when his/her services are terminated, or can’t pay the self-employment taxes due, feels entitled to benefits, or otherwise has reason […]

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IRS Issues Guidance on its Operations During the Government Shutdown

The IRS’s brief announcement concerning its operations while the government is shut down has been updated to address collection and enforcement issues. Since the shutdown, the IRS is not issuing new liens or levies or taking action on existing liens.  Any collection notices sent out are automatically generated by the IRS’ computers and continue to […]

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Caution: FIRPTA Withholding Exemption Certificates—Mirage or Oasis?

The Foreign Investment in Real Property Tax Act of 1980 (“FIRPTA”) requires foreign persons who sell U.S. real property (or certain U.S. real property interests) to pay a 10% U.S. withholding tax on the gross sale proceeds. If the foreign person’s final U.S. tax liability on the gain from the sale of the U.S. real […]

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Major Family Gifting Faces Headwind if Obama’s Budget Proposal Passes

On February 13th, the Obama Administration released its fiscal year 2013 budget, including various estate tax proposals that, starting in 2013, would result in: Reducing the lifetime gift exemption back to $1M (the 2009 level) Reducing the overall estate tax exemption to $3.5M (the 2009 level) Increasing the top estate tax rate back to 45% […]

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