FULL JUDGMENT – http://supremecourtofindia.nic.in/outtoday/sc2652910.pdf Our Analysis 58. Before coming to Indo-Mauritius DTAA, we need to clear 31 the doubts raised on behalf of the Revenue regarding the correctness of Azadi Bachao (supra) for the simple reason that certain tests laid down in the judgments of the English Courts subsequent to The Commissioners of Inland Revenue v. His Grace the Duke of Westminster 1935 All E.R. 259 and W.T. Ramsay Ltd. v. Inland Revenue Commissioners (1981) 1 All E.R. 865 help us to understand the scope of Indo- Mauritius DTAA. It needs to be...

WE received a disturbing question the other day about a taxpayer using the wrong SS number, getting his own SS number, and now wanting to file correctly. It would mean going back and changing all his tax filing and SS filings in the past. Several ways to receive W-2 information from the IRS and SSA: There are several ways to receive information about a previously-filed W-2 form from the IRS or the Social Security Administration (SSA). IRS. A taxpayer may file Form 4506-T, Request for Transcript of Tax Return, to ask the IRS for a transcript of the information on Form W-2 or Form 1099....

Offshore Voluntary Disclosure Program Reopens The Internal Revenue Service reopened the offshore voluntary disclosure program to help people hiding offshore accounts get current with their taxes. The IRS also announced the collection of more than $4.4 billion so far from the two previous international disclosure programs. IRS Offshore Programs Produce $4.4 Billion To Date for Nation’s Taxpayers; Offshore Voluntary Disclosure Program Reopens IR-2012-5, Jan. 9, 2012 WASHINGTON — The Internal Revenue Service today reopened the offshore voluntary disclosure program to help people...

Eight Facts to Help Determine Your Correct Filing Status Determining your filing status is one of the first steps to filing your federal income tax return. There are five filing statuses: Single, Married Filing Jointly, Married Filing Separately, Head of Household and Qualifying Widow(er) with Dependent Child. Your filing status is used to determine your filing requirements, standard deduction, eligibility for certain credits and deductions, and your correct tax. Some people may qualify for more than one filing status. Here are eight facts about filing status that the IRS wants you to...

Issue Number: IRS TAX TIP 2012-02 Inside This Issue Do I Need to File a Tax Return This Year? You are required to file a federal income tax return if your income is above a certain level, which varies depending on your filing status, age and the type of income you receive. However, the Internal Revenue Service reminds taxpayers that some people should file even if they aren’t required to because they may get a refund if they had taxes withheld or they may qualify for refundable credits. To find out if you need to file, check the Individuals section of the IRS website at...

Issue Number: IRS TAX TIP 2012-07 Inside This Issue Six Important Facts about Dependents and Exemptions Even though each individual tax return is different, some tax rules affect every person who may have to file a federal income tax return. These rules include dependents and exemptions. The IRS has six important facts about dependents and exemptions that will help you file your 2011 tax return. 1. Exemptions reduce your taxable income. There are two types of exemptions: personal exemptions and exemptions for dependents. For each exemption you can deduct $3,700 on your 2011 tax...

The blogging will re-commence in 2012

IRS agrees—professional gambler’s business expenses not subject to loss limitation AOD 2011-06,12/21/2011 IRS has issued an action on decision (AOD) announcing its acquiescence with the Tax Court’s decision in Mayo, (2011) 136 TC, that the business expenses of a taxpayer engaged in the trade or business of gambling are not subject to Code Sec. 165(d). While, as the Tax Court also held in Mayo, Code Sec. 165(d) limits the deduction for gambling losses of a taxpayer engaged in the trade or business of gambling to the taxpayer’s gains from wagering transactions, the...