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Redesign of Form 990 for Tax Exempt Organizations
In June 2007, the IRS released a discussion draft of the redesigned Form 990, Return of Organization Exempt from Income Tax, filed by many public charities and other exempt organizations... More |
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Baush and Lomb Sale
It’s now official: Warburg Pincus will buy all outstanding Common and Class B shares of Bausch and Lomb stock for $65 per share. The official sale date has not yet been finalized, but will probably take place in late October. Many of our clients hold B & L stock, so fourth quarter tax plans, at least in order to prepay the 2007 New York balance due, may be in order... More |
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Special Web Section Unveiled for Homeowners Who Lose Homes; Foreclosure Tax Relief Available to Many
WASHINGTON — The Internal Revenue Service unveiled a special new section today on IRS.gov for people who have lost their homes due to foreclosure. The IRS also reassured homeowners that, although mortgage workouts and foreclosures can have tax consequences, special relief provisions can often reduce or eliminate the tax bite for financially strapped borrowers who lose their homes... More
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