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IRS Prepares For Potential Private Equity Tax Hike
yahoo.com 2 days agoWASHINGTON (Reuters) - Tax regulators are preparing for a potential tax hike on profits earned by private equity managers such as Republican presidential candidate Mitt Romney known as "carried interest," to be ready if the issue flares up in coming months. The tax-collecting Internal Revenue Service will need to write detailed regulations to implement any new law. The agency will make recommendations now to lawmakers if it sees problems, an IRS official told Reuters. "We have to look down the road that it
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Tax-Exempt Organization Deadline Nears
forbes.com 2 weeks agoFor years, most small tax-exempt organizations were exempt from filing requirements with IRS. This all changed a few years back when The Pension Protection Act of 2006 made it mandatory for tax-exempt organizations to file an annual information return or notice with the IRS regardless of how much (or little) income the organization receives. The ...
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