Stimulus Payments Update 5-5-08


Stimulus payments directly deposited into IRAs and other tax-favored accounts may be withdrawn tax-free and penalty-free. See news release IR-2008-68.

Check the Economic Stimulus Payments Information Center on IRS.gov for updates. Also in Spanish.

Stimulus Payments Update


Even though April 15 has passed, disabled veterans and others who normally do not file a tax return can still submit a 2007 form to receive a payment. See news releaseIR-2008-65. Others who have already filed a return may get their payments directly deposited into their accounts starting April 28. News release IR-2008-66 has details.

Check the Economic Stimulus Payments Information Center on IRS.gov for updates. Also in Spanish.

Stimulus Payments Update

Starting May 2, your clients may be issued their payments. See the schedule.

Check the Economic Stimulus Payments Information Center on IRS.gov for updates.

Also in Spanish.

Free Online Version of the 2007 Codes of New York State


The 2007 Codes of New York State can now be viewed online. Covered in all 9 code books are provisions governing Building, Fire Prevention and Energy construction in New York State. The new free online version allows access to the Codes of New York State by code section, which also allows for cutting and pasting of relevant code text into other documents.

Economic Stimulus Payments Information Center


Economic Stimulus Payments Information Center

Updated March 10, 2008

Starting in May, the Treasury will begin sending economic stimulus payments to more than 130 million households. To receive a payment, taxpayers must have a valid Social Security number, $3,000 of income and file a 2007 federal tax return. IRS will take care of the rest. Eligible people will receive up to $600 ($1,200 for married couples), and parents will receive an additional $300 for each eligible child younger than 17. Millions of retirees, disabled veterans and low-wage workers who usually are exempt from filing a tax return must do so this year in order to receive a stimulus payment.

But there are more details to know about. Find out more here and visit this page regularly for the latest updates.

Do You Feel Lucky? Poker Tournament Winnings Must be Reported to the IRS


IR-2007-173, Oct. 19, 2007

WASHINGTON — Starting next year, casinos and other sponsors of poker tournaments will be required to report most winnings to winners and the Internal Revenue Service, according to the IRS.

The new requirement, which goes into effect on March 4, 2008, was contained in guidance released Sept. 4 by the Treasury Department and the IRS. The guidance is designed to clear up confusion about the tax reporting rules that apply to poker tournaments. In recent years, some casinos and players have been confused over whether poker tournament sponsors who hold the money for participants in a poker tournament are required to report the winnings to the IRS and withhold tax on the winnings.

For tournaments completed during 2007 and before March 4, 2008, casinos and other sponsors of poker tournaments will not be required to report the winnings to the IRS or withhold tax on the winnings. But beginning March 4, 2008, the IRS will require all tournament sponsors to report tournament winnings of more than $5,000, usually on an IRS Form W-2G.

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Read Entire Article

NYCRR Now Available Online (in full) for Free


NYCRR

Welcome to the Division of Administrative Rules

The complete unofficial NYCRR is now available online. This initial release of the online NYCRR does not yet include a table of contents. To find desired text, visitors simply enter a search term or NYCRR citation. A table of contents will be available in the near future.

The NYCRR primarily contains state agency rules and regulations adopted under the State Administrative Procedure Act (SAPA). The 22 Titles include one for each state department, one for miscellaneous agencies and one for the Judiciary. The Office of Court Administration and the Judiciary are exempt from SAPA requirements.

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Hat Tip to Paul Gillan of S U P R A S P I N A T U S, the unofficial blog of the NYSBA Health Law Section, which deserves your attention on a regular basis.

New Border Rules–From the Canadian Side


CBC News In Depth: Airport security

A change in American policy has created huge headaches for Canadians who feel the urge to travel south of the border from time to time. Since Jan. 23, 2007, Canadians flying to the U.S. have had to possess a valid passport.

The new rule — part of the U.S. Western Hemisphere Travel Initiative — led to long lineups at passport offices across the country and a huge backlog as Passport Canada was inundated with a surge in the number of applications.

The initiative requires citizens of the U.S., Canada, Mexico and Bermuda travelling by air to the U.S. from other countries in the western hemisphere to present a valid passport, a Merchant Mariner’s Document or a card issued under the NEXUS Air frequent traveller program.

The second stage of the initiative takes effect Jan. 31, 2008, when those who travel to the U.S. by land or water will be required to show valid identification when they cross the border. Verbal declarations will no longer be accepted.

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Read entire article from CBC.

IRS, Telemundo Host Program for Spanish-Speaking Taxpayers


Tell your Spanish-speaking clients about the special one-hour tax program on Telemundo Sunday, Jan. 27. Get details in news release IR-2008-9.

U.S. Immigration Service Requires Use Of New Employment Verification Form (I-9) For All Employers


On November 7, 2007, the United States Citizenship & Immigration Services (”USCIS”) issued a revised I-9 form. A copy of the new I-9 form (in English and Spanish) may be obtained by clicking on the links above.

Note: The Spanish version of Form I-9 may be filled out by employers and employees in Puerto Rico ONLY. Spanish-speaking employers and employees in the 50 states and other U.S. territories may print this for their reference, but may only complete the form in English to meet employment eligibility verification requirements.

There is also a revised Employer Handbook (24.4 mbs) for I-9 compliance.