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Tax Articles

IRS Acceptance Agents No Longer Will be Situated Outside USA Borders

According to Sharon Bradley, Manager of the IRS’ ITIN Policy Section in the Atlanta, GA  Service Center, Section 203 of the Protecting Americans from Tax Hikes Act of 2015 (PATH Act), Pub. L. 114-113, div. Q, enacted on December 18, 2015, modified Section 6109 of the Internal Revenue Code and resulted in significant changes to the Individual Taxpayer…

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With a CLAT, CLUT here and a CRAT, CRUT there – Old MacDonald had a Trust EIEIO: IRC 641-692 & IRS Form 1041

The one thing stopping good people from engaging the full force and effect of tax and estate planning using trust instruments is the language. Acronyms make it hard to understand what lawyers are saying and most of us simply put ourselves out of commission when it comes to this type of tax planning. It does…

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New requirement for dependents whose passports don’t have a date of entry into the U.S.

The IRS changed its policy on acceptable documentation for issuing dependent Individual Taxpayer Identification Numbers (ITIN). The agency no longer accepts passports that do not have a date of entry into the U.S. as a stand-alone identification document for dependents from countries other than Canada or Mexico or dependents of military members overseas. In addition…

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General Tax Benefits of Charitably Giving

Warren Buffet released certain claims made on his 2015 personal income tax return in a statement released by Business Wire, A Berkshire Hathaway Company. It is worth noting his remarkable generosity. Check out these figures: adjusted gross income – $11,563,931 – MILLION Itemized deductions – $5,477,694 – MILLION Total charitable contributions – $2,858,057,970 – BILLION…

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Charitably Giving with Intention – An Introspective – Part 1 – QCD’s

Last spring I became relatively involved with St. Peter’s Stewardship Committee out here in Greenwood Village, Colorado.  With membership ranks and pledged donations struggling, my wife and I developed a plan to drill down into several aspects of charitable giving and report findings along the way. Four underlying themes have surfaced including that the vast…

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Immediately Effective Changes to IRS ITIN Acceptance Agent Program

According to Brenda L. Hales, Senior Tax Analyst, Internal Revenue Service, ITIN Policy Section-M/S 97-WI of 401 W Peachtree Street NW, Atlanta, GA 30308 the ITIN Acceptance Agent Program includes the following changes made in 2016 and are immediately effective: Certification Process Changes For dependents, Certifying Acceptance Agents (CAA’s) will now be allowed to authenticate the passport and birth certificate. CAAs…

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