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Home sales tax for foreigners

My parents just sold a U.S. property. My father is a foreigner but my mother is a U.S. citizen. They filed a FIRPTA (Foreign Investment in Real Property Tax Act income tax withholding) stating exactly that. Although the sale price of the property is more than $300,000, the closing agent didn't withhold the 10 percent tax. They don't want to file a joint U.S. tax return, as if they do, my father's income will be subjected to U.S. taxation. How should they file their tax regarding this property sale?

Sales tax controversy: FBR moves Supreme Court against LHC verdict

ISLAMABAD (October 09 2008): The Supreme Court of Pakistan would hear the case of a tax controversy to ascertain whether the sales tax could be collected on the transportation charges under the Sales Tax Act, 1990. The Federal Board of Revenue (FBR) has filed an appeal against the judgement of Lahore High Court (LHC), which has declared that there is no charge on transportation under Sales Tax Act.

Sales Tax Rules for eBay Sellers

Many sellers on eBay want to do the right thing - collect sales taxes when required and pay this amount to their state. Unfortunately, doing the right thing isn't easy. There are over 8,000 tax jurisdictions (when you add state and local tax authorities); each has its own rules on what is subject to tax, what is exempt, and how much the tax rate should be.

Newegg Defies New York Sales Tax Law

JagsLive informs us that the electronics retailer Newegg.com is defying New York lawmakers; it has suddenly stopped collecting sales tax from New York online shoppers. The "Amazon tax," which went into effect June 1, requires online merchants to collect sales tax if they have any affiliates in the state. Amazon is complying but has sued the state on constitutional grounds. Overstock.com dropped all of its New York affiliates and then joined the Amazon lawsuit. Newegg started out complying with the law on June 1, but stopped collecting taxes for New York on August 21. From Newegg's letter to its customers: "After careful review and consideration, we are pleased to inform you that we have stopped collecting New York sales tax, effective August 21, 2008," reads an email the company tossed at customers late last week, including at least one l

Roni Lynn Deutch, A Professional Tax Corporation Launches Tax Relief Blog

The nation's largest tax resolution law firm, Roni Lynn Deutch, A Professional Tax Corporation, has launched an interactive new blog to interact with visitors to their website

NZ Tax Law Jobs - Seeking Tax Legal Work? Check the latest LawFuel.co.nz online law jobs here

Tax law positions are available on New Zealand's legal jobs site LawFuel.co.nz with large enterprise jobs in the Inland Revenue Department in different locations offering major law career opportunities.

Money Box Live: Tax and self assessment

Tax can be a complicated business. A committee of MPs recently said that taxpayers should be given more help to understand and fill in their tax forms.

Circuit City to Offer Shoppers Four Days of Extra Storewide Savings During Virginia Sales Tax Holiday October 10-13, 2008

The tax holiday was enacted by lawmakers to promote the adoption of products and appliances that use energy and water efficiently. But Circuit City is pleased to announce that, in addition to those products, it will absorb state and local sales taxes on ALL PRODUCTS sold in its 26 Virginia stores, meaning consumers can shop TAX-FREE on everything at Circuit City during the four-day holiday period.

Proposed Tax on Art Sales Raises Hackles

Conflict between the government and the art world is mounting over a plan to impose capital gains tax on artworks. The Ministry of Strategy and Finance submitted a tentative bill last Wednesday, the opening day of the regular session of the National Assembly, to the Strategy and Finance Committee. The Ministry hopes the bill gets passed before Dec. 9, the last day of the plenary session. The bill would impose tax on 20 percent of the marginal profits when selling an artwork worth W40 million (US$1=W1,269) or more.

Ministry Eyes Higher Tax Exemptions For 401(k) Contributions

TOKYO (Nikkei)--The Health, Labor and Welfare Ministry intends to seek a higher tax-free thresholds for employer contributions to 401(k)-style defined-contribution pension plans in the fiscal 2009 tax reform.

Same-sex couples denied property tax perks

Most married couples take their special tax benefits as property owners for granted. But gay and lesbian couples who tie the knot in California or Massachusetts may not be able to take full advantage of certain property-related tax breaks because federal law doesn't recognize their marriages.

India Art Summit under tax scanner

New Delhi, Aug 23 (PTI) With Indian art market estimated to be worth more than Rs 1,000 crore, the Income Tax department is now closely monitoring various art galleries for tax evasion, especially in the wake of country's first-ever India Art Summit currently being held in the capital.

Circuit City Declares 'Sales Tax Holiday' August 9-10 in Its California Stores; Extra Savings Will Help Back to School Shoppers Facing High Energy Bills

RICHMOND, Va., Aug. 5 /PRNewswire-FirstCall/ -- In a move to help consumers stretch their dollars during the important back to school shopping season, Circuit City stores across California will invite shoppers to celebrate a "Sales Tax Holiday" August 9-10, 2008. During the weekend, Circuit City will absorb the cost of state and local sales taxes for all purchases made in all of its 95 California stores. The savings for shoppers, averaging eight percent, will be in addition to seasonal sales promotions already underway. "We've seen shoppers enjoy the savings during sales tax holidays in other states around the country and we want to offer that same opportunity to consumers in California," said John T. Harlow, executive vice president and chief operating officer at Circuit City Stores, Inc.

Health Care: The Real Fiscal Nightmare

A heated discussion is taking place in the economic blogsphere over the rival tax plans of Presidential candidates Barack Obama and John McCain. Of course, the battle of rival tax blueprints has been in force ever since the two hopefuls sewed up their respective nominations, but a new round of fighting recently erupted. A number of important points have been made. But the fiscal policy dispute, while informative and fascinating, has focused too much on tax regimes and not enough on the real challenge: health care. When it comes to domestic, nonmilitary fiscal policy in the new millennium, everything is dwarfed by health care.

Rolling into a Roth

Can I roll a traditional IRA into a Roth IRA? My traditional IRA contains after-tax contributions, due to high income that disqualifies me from taking the deduction on the 1040. This also requires filing IRS form 8606 annually. If I can roll the traditional IRA to the Roth, are only the growth and earnings from the funding subject to federal and state income tax, with the post-tax original contribution dollars not taxed again upon conversion?

Real estate taxes for ex-pats

My wife is a nonresident alien and I am a U.S. citizen. Our family of four lives overseas at the moment. I own a mortgage-free property in California that is used as a rental. We file tax separately; in other words, she doesn't pay U.S. tax on her income. And my tax pay to the IRS is minimal since I am not working.

Tax scam's deal really is too good to be true

If the promise of settling tax debt for pennies on the dollar sounds too good to be true, your instincts are right on the money, say a number of lawyers and accountants who routinely represent clients before the IRS.

Tax owed on a foreign pension

I'm a British citizen with permanent residency status here in the U.S. I have about 21,700 pounds ($40,000) in the United Kingdom that I will be wiring to myself here in the U.S. This money is from a savings account similar to a 401(k). Do I have to supply information to the IRS about this transfer, and if so, how? And are these funds subject to any income tax?

iPod tax could fund TV news bulletins

http://www.telegraph.co.uk/news/uknews/3080370/iPod-tax-could-be-introduced-to-fund-TV-news-bulletins.html

Australian Tax Office to Investigate Art Collectors

CANBERRA, Australia—Wealthy Australian art collectors are coming under scrutiny by the country's tax office amid concerns that they are gaining inappropriate benefits with the help of museums, reports the Australian.

Americans for Tax Reform and Rutledge Capital Release 2008 Election 401(k) Calculator

PRNewswire-USNewswire/ -- Americans for Tax Reform (ATR), in partnership with Rutledge Capital, has launched a new "2008 Election 401(k) Calculator." It is prominently featured on www.atr.org, and will be available through

Americans for Tax Reform and Rutledge Capital Release 2008 Election 401(k) Calculator

WASHINGTON, Oct. 10 /PRNewswire-USNewswire/ -- Americans for Tax Reform (ATR), in partnership with Rutledge Capital, has launched a new "2008 Election 401(k) Calculator." It is prominently featured on

Circuit City Declares 'Sales Tax Holiday' August 9-10 in Its California Stores; Extra Savings Will Help Back to School Shoppers Facing High Energy Bills

Circuit City Declares 'Sales Tax Holiday' August 9-10 in Its California Stores; Extra Savings Will Help Back to School Shoppers Facing High Energy Bills

Circuit City Declares 'Sales Tax Holiday' August 9-10 in Its California Stores; Extra Savings Will Help Back to School Shoppers Facing High Energy Bills

Circuit City Declares 'Sales Tax Holiday' August 9-10 in Its California Stores; Extra Savings Will Help Back to School Shoppers Facing High Energy Bills

TIGA: Lower Tax is "Holy Grail" for UK Video Game Industry

Tiga, the national trade association for UK and European game developers has called directly for tax breaks to aid the local industry.

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