1099-K FAQs DRAFT 1099-K You may start to see letters or receive requests for your TIN (taxpayer identification number) from your merchant card processor related to Form 1099-K. The 1099-K is a new information return to report certain payments made in settlement of "payment card" transactions and third-party network transactions. Here are some important facts [...]
The Alabama Retail Association is offering several seminars throughout the state highlighting ways the Alabama immigration law affects every employer. Click below for information and registration.
Below is a link to the Satisfaction of Claim form for Tuscaloosa County. Please contact the JMF Estate and Trust department if you need any assistance. We will be more than happy to help with this form, or if you need a similar form for another jursidiction. Click here to get the form.
One of the most talked about changes to the Federal estate tax centers on the portability of the decedent spouse's unused exclusion. If elected, this new rule allows the surviving spouse to take advantage of the decedent spouse's leftover exclusion after death. However, mainstream media has taken the term "portability" and used it to make it sound "out [...]
Revenue Procedure 2011-52 sets forth inflation adjusted items beginning in 2012 (read more). For an estate of any decedent dying during calendar year 2012, the basic exclusion amount is $5,120,000 for determining the amount of the unified credit against estate tax under §2010. This reflects a $120,000 increase over the 2011 basic exclusion amount. For [...]
Title: Immigration SeminarLocation: Selma, AlabamaLink out: Click hereDescription: 7:30 a.m. - 9:30 a.m. at the Central Alabama Co-Op, Community Room in Selma, Alabama. Sponsored by the Selma and Dallas County Chamber of Commerce and JamisonMoneyFarmer PC. Admission is free. RSVP required at 334-875-7241.Start Date: 2011-10-24End Date: 2011-10-26
"Carpe Diem" is a latin phrase translated as "Pluck the Day" or more fashionably, "Sieze the Day". The original source of the phrase is credited to the poet Quintus Horatius Flaccus (more widely known as Horace). However, many less scholarly people (myself included) picked up the phrase from the character John Keating, played by Robin Williams, [...]
Sponsors of SIMPLE plans must make an annual notification to eligible employees regarding their opportunity to participate in the plan, and the contribution option the employer elects for the coming year (either the match or the non-elective). This year the notice must be provided to eligible employees no later than Wednesday, November 2, 2011. JMF will be sending [...]
A recent SEI Wealth Network survey found that 80% of those polled planned to transfer wealth directly to family members, yet only 46% actually had a plan in place to do so (read the article). While this article did not mention him directly, I don't think "Uncle Sam" was the intended family member in any of these wealth transfer [...]
A federal appeals court affirmed a popular gift tax strategy that is available for taxpayers to help lessen the blow when IRS does not accept valuation discounts on gifts. This technique is intended to discourage the IRS from challenging valuation discounts. By making gifts default to charity if the valuation discounts are adjusted by the IRS, it effectively takes those [...]