Latest news with #taxexperts
Associated Press
11-07-2025
- Business
- Associated Press
Filing Separately Could Cost You More on Back Taxes - Clear Start Tax Explains Smarter Options for Married Couples
Clear Start Tax shows married couples how to avoid costly filing mistakes and save more when back taxes are involved. IRVINE, CA / ACCESS Newswire / July 11, 2025 / Married taxpayers dealing with back taxes are often surprised to learn that filing separately to 'protect' one spouse from IRS collections can actually lead to higher tax bills, lost credits, and fewer resolution options. According to Clear Start Tax, understanding the pros and cons of married filing jointly vs. separately is critical for couples hoping to resolve tax debt while preserving as much income as possible. 'Filing separately might feel safer when one spouse has IRS issues - but it usually ends up being more expensive,' said the Head of Client Solutions at Clear Start Tax. 'In many cases, joint filing opens the door to relief programs, better deductions, and faster resolution.' Why Filing Separately Can Backfire for Couples With Tax Debt Some couples assume that filing separately shields one spouse's income or refunds from being seized. While separate filing may delay IRS collection on a refund, it doesn't always protect shared income or assets, especially in community property states. And in many cases, filing separately ultimately results in: How Filing Together Could Be the Smartest Move for Tax Relief Even when one spouse owes back taxes, joint filing can result in lower taxes and greater access to IRS relief programs. Clear Start Tax helps couples explore the advantages of working together, not separately. For situations where only one spouse is responsible for the debt, programs like Innocent Spouse Relief or Injured Spouse Allocation may protect the non-liable spouse, without sacrificing the benefits of joint filing. 'The IRS gives couples a way to protect the innocent spouse while still getting the best outcome,' said the Head of Client Solutions. 'We help clients understand their rights and design a strategy that keeps more money in their household.' The Fresh Start Program Can Help Couples Settle Tax Debt Together This IRS initiative allows struggling taxpayers - including married couples - to settle or restructure their tax debt based on what they can reasonably afford. Clear Start Tax walks couples through every step of the process. By answering a few simple questions, taxpayers can find out if they're eligible for the IRS Fresh Start Program and take the first step toward resolving their tax debt. Joint Returns Come With Risk - But Also With Options While joint returns mean both spouses are legally responsible for the full tax bill, Clear Start Tax helps clients explore: These strategies can balance legal responsibility while still maximizing the couple's chances of saving money and moving forward. About Clear Start Tax Clear Start Tax is a full-service tax liability resolution firm that serves taxpayers throughout the United States. The company specializes in assisting individuals and businesses with a wide range of IRS and state tax issues, including back taxes, wage garnishment relief, IRS appeals, and offers in compromise. Clear Start Tax helps taxpayers apply for the IRS Fresh Start Program, providing expert guidance in tax resolution. Fully accredited and A+ rated by the Better Business Bureau, the firm's unique approach and commitment to long-term client success distinguish it as a leader in the tax resolution industry. Need Help With Back Taxes? Click the link below: (888) 710-3533 Contact Information Clear Start Tax Corporate Communications Department [email protected] (949) 535-1627 SOURCE: Clear Start Tax press release
Washington Post
04-07-2025
- Business
- Washington Post
Social Security letter on taxes sends confusing message, some experts say
The Social Security Administration is telling people that federal income taxes on most recipients' benefits will be eliminated under a recently passed tax and spending bill. But while more seniors will get a tax break, the message itself is confusing and could mislead Social Security recipients about the new policy, some tax and policy experts said.
Zawya
26-06-2025
- Business
- Zawya
Qatari-Russian cooperation to promote digitalization, e-invoicing in tax systems
Doha, Qatar: As part of efforts to enhance international cooperation and exchange expertise in tax practices, the General Tax Authority (GTA) organized a joint workshop with the Federal Tax Service of Russia at the GTA headquarters in Doha. A statement by GTA on Wednesday indicated that the workshop focused on enhancing collaboration in key areas such as digitalization, the e-invoicing project, and improving the overall efficiency of tax performance. Senior officials and technical experts from both sides participated in the event. During the main discussion session, both parties explored areas of cooperation, including the scope and outcomes of an ongoing technical assistance project. This initiative supports the GTA's digital transformation strategy and aims to develop its systems into an integrated hub for financial and tax information. The joint workshop provided a platform to exchange best practices in the digitalization of tax systems, aligning with broader efforts to build a modern, technology-driven tax administration. The agenda featured a series of technical presentations and expert-led discussions, with a particular focus on Russia's experience in value-added tax reform and digital innovation. The workshop also included presentations covering strategies for expanding the use of electronic documentation, addressing associated technical and regulatory challenges, and assessing the potential impact of future tax policies on innovation and economic growth. Participants emphasized at the conclusion of the workshop the importance of continued technical cooperation and knowledge exchange to strengthen the resilience of tax systems in both countries and better equip them to respond to future challenges, ultimately contributing to the broader goals of sustainable development. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
17-06-2025
- Business
- Zawya
Uganda overhauls tax laws to finance $20bln budget
Uganda is betting on the overhauled tax laws to plug revenue leaks and boost domestic revenue collections, which have historically remained low. While reading Uganda's $20.1 billion budget for the financial year 2025/2026, Finance Minister Matia Kasaija announced high revenue targets for the tax body to finance 51.5 percent of the budget. Uganda Revenue Authority (URA) has been tasked to raise almost $9.5 billion (Ush34.051 trillion), which is 47 percent of the total budget requirements. From fees and local government collections, URA is expected to collect $903.1 million (Ush3.246 trillion), representing 4.4 per cent of the total requirement. To facilitate the taxman, MPs amended the Income Tax, VAT, Excise Duty, Tax Procedure Code, the Stamp Duty, and the External Trade Bills to facilitate the generation of an additional $675.8 million. Mr Kasaija also introduced a 'small fee of one percent of the customs value' on taxable items under the common external tariff. The measure seeks to align Uganda's tax policy with those of other East African Community partner states, where similar fees have been imposed. Currently, imported goods that attract no import duty are not subject to infrastructure levy, tax experts at PwC explained, meaning that the proposed amendment is likely to increase the cost of importation of certain goods, since it is based on the customs value of such goods and not on the applicable import duty rate per se. Uganda also has a $10 per tonne of wheat bran, cotton cake, and maize bran tax levy to discourage the export of the raw materials needed to sustain the livestock feed industry from competition. This levy will be payable by the consignor to the URA at the time when the wheat bran, cotton cake, or maize bran is consigned out of Uganda. Tax experts at PwC said Uganda has not been levying such an export tax and the proposed export levy is aimed at encouraging domestic production of animal feed and reducing foreign exchange expenditure on imported animal feed. Read: Uganda plans corporate bonds to raise new capital for State firmsUganda has introduced an anti-avoidance rule for VAT importers to rope in importers who have been avoiding shipping goods valued at Ush150 million ($41,661). According to tax experts, it was common for traders to import goods under separate consignments, which, if aggregated, would qualify the importer to be registered under the VAT Act.'These fragmented consignments are commonly referred to as groupage cargo or Less than Container Load. The amendment introduces an anti-fragmentation rule for VAT purposes that empowers the Commissioner of the URA to aggregate several consignments which, when combined, would have a turnover that triggers the VAT registration threshold of Ush150 million ($ 41,661),' said Juliet Najjinda, senior tax manager at PwC.'The proposed amendment will allow the commissioner to treat the fragmented consignments as a single transaction for purposes of assessing the VAT threshold.'The amendment is aimed at preventing tax evasion, enhancing VAT compliance, and promoting equity within the VAT tax administration regime. Taxpayers, especially groupage cargo importers, should review their consignments regularly to assess whether they meet the VAT registration threshold of Ush150 million,' the PwC official explained. The shadow finance minister, Ibrahim Ssemujju Nganda, has described the revenue collection targets set by the finance ministry for the taxman as unrealistic. In the budget report presented to Parliament last month, he stated that the URA had met its revenue collection targets from the 2020/21 financial year to the 2022/23 financial year. His colleague, Joel Ssenyonyi, the leader of the opposition in Parliament, named tax leakages as the major concern that the country must address.'This country faces challenges in raising local revenue due to a narrow tax base, weak enforcement, high informality, and low taxpayer compliance. The gold sector is an example where there is limited regulation and smuggling, resulting in little or no revenue from the most lucrative industries,' Mr Ssenyonyi said. For example, the Auditor General's report to Parliament in 2023/24 stated that Uganda lost $19 million in revenue through gold exports valued at $3.014 billion (approximately Ush11 trillion). These exports were made without the necessary permits from the Energy Minister. Tax measures for the 2025/26 fiscal year:Excise duty on cigarettes of Ush65,000 per 1,000 sticksImport declaration fee of one percent of the customs valueExport levy of $10 per metric ton of wheat bran, cotton cake and maize branImport duty on imported fabrics of $2 per kilogram or 35 percentFive percent export levy on hides and skinsGaming and Betting Centralised Payments Gateway systemUse of National Identification Number as a Tax Identification NumberWinnersThree-year income tax holiday for startup businesses established by Ugandans after July 1, 2025. One tax exemption for Bujagali hydropower up to 30th June 2026. Removal of excise duty rate of 30 percent or Ush950 per litre on beer manufactured from barley that is grown and malted in UgandaRemoval of stamp duty of 0.5 percent or Ush15,000 on mortgages and agreementsExemption from capital gains tax on transactionsZero tax rate on aircraft suppliesRemoval of Ush950 per litre on beer locally produced from barley in Uganda © Copyright 2022 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (
The Sun
12-06-2025
- Business
- The Sun
HMRC announces major change for all taxpayers in shake-up
HMRC has announced a major change for all taxpayers in a shake-up. The taxman has plans to scrap all outgoing letters to households, except ones that generate revenue such as tax demands. 1 You can receive a letter from HMRC for a number of reasons, including if you are underpaying on tax or if you need to register for self-assessment. The Government confirmed the change in its spending review on Wednesday June 11. It is hoped the move will reduce the number of letters HMRC sends by 75% and save £50million a year by 2028‑29. Households who do not have easy access to internet or struggle with technology will still receive letters. Meanwhile, phone lines will also remain open for those who need to speak about any queries. However, there are fears from tax experts that those who are less tech savvy could miss out on important updates from HRMC. Alice Haine, personal finance analyst said the move risks leaving those with no digital skills in the "dark". She said: "The decision raises the risk that people miss key correspondence, or worse, mishandle their tax affairs – something that could lead to fines if they fail to fulfill their obligations." 'While the lack of physical mail some might persuade some to solve any stumbling blocks themselves through online support services, others might find these mediums difficult to navigate or totally inaccessible." An HMRC spokesperson told The Sun it will be communicating with taxpayers in "different ways instead" and provide a "better service" for customers. What Does My Tax Code Mean? A Simple Guide to Your HMRC Letter They said : "The government is providing an additional £500million in funding to make HMRC a digital-first organisation.' It comes as part plans to prioritise digital operations at HMRC. Households can already download the HMRC app which gives access to your tax, National Insurance and benefits. Users can also make a Self Assessment payment and claim a refund if you have paid too much tax. These tasks can also be carried out online via the website, but the option to submit it through the post remains. USING HMRC APP The HMRC allows users to get information about tax, National Insurance and benefits. You can use it to check your: tax code National Insurance number income and benefits employment and income history from the previous 5 years Unique Taxpayer Reference (UTR) for Self Assessment Self Assessment tax and how much you owe Child Benefit State Pension forecast gaps in National Insurance contributions You can also use it to: get an estimate of the tax you need to pay make a Self Assessment payment make a Simple Assessment payment set a reminder to make a Self Assessment payment access your Help to Save account use our tax calculator to work out your take home pay after Income Tax and National Insurance deductions track forms and letters you have sent to us claim a refund if you have paid too much tax ask HMRC's digital assistant for help and information update your name update your address save your National Insurance number to your digital wallet check for gaps in your National Insurance contributions and the benefits of paying them check if you can make a payment for gaps in your National Insurance contributions choose to be contacted by HMRC electronically, instead of by letter How to access the app Open the app and enter your Government Gateway user ID and password to sign in for the first time. If you do not have a user ID, you can create one via the app.
