IRS Circular 230 Disclosure:
To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any tax advice contained in this communication, unless expressly stated otherwise, was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matters addressed herein.
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Find out some of the new information regarding rolling over an IRA and how a failure to take your required minimum distribution could cost you. Also, find out the new requirements for your Business Entity Tax for the State of Connecticut.
The deadline for filing the 2013 Report of Foreign Bank and Financial Accounts (FBAR) is June 30th. In the past this report was sent in on paper, but this year the form must be efiled with the Financial Crimes and Enforcement Network (FinCEN), a bureau of the U.S. Treasury. The report is now made on Form 114, which is much the same as the prior paper-filed
Congress again held off until the end of the year to pass tax legislation, but this time some of the provisions have been made "permanent" meaning they do not automatically expire. This latest stack of tax laws is called the Protecting Americans from Tax Hikes Act of 2015 (the 2015 PATH Act). Read more about it here...
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