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On January 1, 2015 the structure of prime contractor classification of the Transaction Privilege Tax ("TPT") changed. This changed how and when tax is paid on materials purchased by contractors.Under the new law, a "prime contractor" is a person or organization that undertakes to or offers to undertake to, or purports to have the capacity to undertake to, or submits a bid to, or does personally or through others, modify any building, highway, road, railroad, excavation, manufactured building, or other structure, project, development or improvement, or do any part of such project, including scaffolding or other structure or works in connection with such a project, and includes subcontractors and specialty contractors. more
Taxes are hard enough without being frustrated by an IRS notice. Most people freak out when they get an IRS notice, so below are 36 common mistakes and how to avoid them. This list is based on common mistakes listed by the IRS
No one likes calculating, collecting, remitting, or filing taxes, nor do they enjoy tracking exemption certificates, sales tax holidays, or product taxability. It’s easy to be lured into a false sense of compliance when it comes to sales tax. This false sense of security may be leading some companies to a point of no return. The following seven common sales tax errors may each have potentially devastating consequences.
Legacy Tax and Resolution Services, a premiere tax relief and tax services company with over 20 years experience in the tax planning and tax resolution field and has the expertise to handle any of your IRS Tax problems. Keeping your taxes as low as allowable by law, protecting your assets, and maximizing tax deductions, within IRS tax compliance is our focus.Tax professionals at Legacy Tax and Resolution Services will relieve your tax and IRS anxieties, make your case and resolve your IRS Tax Issues and tax debt. Going it alone against an IRS audit, releasing a levy, or stopping a wage or bank garnishment is not a good idea. Professional tax consultants will understand your issue and get you the correct solution and a better outcome. Tax questions? Call today for a free IRS Tax Relief consultation 480 907 6644.
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