Category Archives: Tax

IRS announces Key Executive changes to implement the Taxpayer First Act

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WASHINGTON – The Internal Revenue Service today announced several key leadership appointments as work continues implementing major provisions of the Taxpayer First Act.

Douglas O’Donnell will serve as the new IRS Deputy Commissioner, Services and Enforcement. Among other leadership changes, Sunita Lough will be returning to serve as the IRS Commissioner of the Tax Exempt and Government Entities Division (TEGE).

These leadership changes are part of a larger effort underway at the IRS to continue work on the Taxpayer First Act, which includes work to reimagine the agency’s tax administration and work to improve taxpayer service and enforcement.

“I am proud of the dedicated and nimble leadership of the IRS, along with all the employees,” said IRS Commissioner Chuck Rettig. “As we emerge from the pandemic, our strong leadership team is making some changes to take on the important challenges ahead. Taxpayers need to see the IRS renewing the fight each day for the highest possible service and tax compliance.”

Sunita Lough has served as the IRS Deputy Commissioner, Services and Enforcement, since September 2019. She is returning to her prior position as Commissioner of TEGE, a role she previously held from 2014 to 2019. Continue reading →

HQ Tax & Financial Inc – Accounting & Income Tax Services USA

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As a Licensed IRS Enrolled Agent, professional tax practitioner, and an entrepreneur with a cost & management accounting background, I have provided valuable business consulting to entrepreneurs from all over the world.  Our clients come from different countries such as Morocco, Germany, Israel, Pakistan, India, New Zealand, Greece, Ukraine, Trinidad & Tobago, UAE, South Korea, and China.

While our most popular services are Individual & Business Tax Preparations, we have extensive experience in all aspects of Accounting, Tax Filing, and IRS Audits in the US.

I have been privileged to help many individuals with incorporations in the United States as well as assisted them in starting successful businesses.

My license authorizes me to incorporate LLCs / C-Corps / S-Corps (for SSN holders) in all 50 states. To-date, I have incorporated over 76 corporations. I can also handle all IRS related Tax & Audit matters.

My Services Include:
– Individual & Business Tax Preparation.
– Payroll Services
– IRS Audit Representation
– Accounting & Bookkeeping
– Tax Planning
– Business Advisory
– ITIN Application

Hassan ABBAS
IRS Enrolled Agent
IRS Certifying Acceptance Agent
INTUIT Pro-Advisor
Notary Public

HQ Tax & Financial Inc (earlier known as EZ Taxez) is based in Chicago delivering comprehensive business solutions to companies worldwide.

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IRS Update: Combat-zone contract workers qualify for foreign earned income exclusion

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WASHINGTON — Certain U.S. citizens or resident aliens, specifically contractors or employees of contractors supporting the U.S. Armed Forces in designated combat zones, may now qualify for the foreign earned income exclusion.

The Bipartisan Budget Act of 2018, enacted in February, changed the tax home requirement for eligible taxpayers, enabling them to claim the foreign earned income exclusion even if their “abode” is in the United States. The new law applies for tax year 2018 and subsequent years.

This means that these taxpayers, if eligible, will be able to claim the foreign earned income exclusion on their income tax return for 2018 when they file. Under the exclusion, taxpayers can choose to exclude their foreign earned income from gross income, up to a certain dollar amount. For tax year 2018, that dollar amount limit is $103,900. Continue reading →