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GST: All that you need to know about the newest & biggest tax reform in India
Goods and Services Tax better known as GST in India, is a new and comprehensive tax to be levied on sales, manufacturing
and consumption of services and goods across the nation. Referred to as one of the biggest tax reforms in the country, GST
is expected to bring together state economies and improve overall economic growth of the nation.
Both the Central as well as State governments are set to impose GST on all services and goods produced, manufactured and imported in India. Exports are not subject to GST. As of now, the proposal is for two tax rates at both State and Central levels
for the initial two years, which would be merged into a single tax rate in the third financial year.
Coretegra Technologies also provide various services like GST returns applications and
Facilitation Centers (FC).
Many taxpayers are under the assumption that if they file for bankruptcy, this will clear them of every single debt they owe.
That’s not exactly true.
Now when you file for bankruptcy, it does temporarily stop the Internal Revenue Service (IRS) from collecting any tax debts. How long they stay away actually depends on what type of tax debt you have and which chapter of bankruptcy you’re filing for. All of this will have a direct affect on how your tax debt situation is handled.
No One Said Bankruptcy Would Be Easy
When it comes to tax matters, there’s really no easy way of explaining how things will work because each case is dealt with on an individual basis according to the taxpayer’s financial situation. That’s why it’s recommended to get some professional assistance in these matters because, let’s be honest, if you knew how the tax debt system actually worked, chances are you wouldn’t be in the situation you’re currently in. On the other hand, there are some professionals who may know exactly how everything works and still find themselves in a mess of debt due to sheer neglect.
LET OUR EXPERIENCE AND EXPERTISE WORK FOR YOU!
Advance Tax Relief, a tax relief firm with two offices in Houston, Texas and Los Angeles, California, has been in the business of helping people out of the tax debt for over 25 years.
Throughout this time, we have come across a wide range of tax debt cases that have given us the experience and expertise to alleviate any tax issues that you have big or small.
ADVANCE TAX RELIEF
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If you are the subject of a tax audit and have recently received a letter from the Internal Revenue Service (IRS), you may likely respond like most Americans, with some element of fear and dread.
The fact is, the audit rate is fairly low (around 1%) if you make below $200,000 a year, but for those Americans who are the subject to an audit, the stress can be very high and you may have questions about what immediate steps you should take to respond. While getting a letter from the IRS is never what you want to find in your mailbox, it does not have to spell disaster.
Here are 5 steps to follow if you have received written correspondence from the IRS:
Do not panic: In the vast majority of audits, the IRS has a simple question about an aspect of your tax return. Remember that audits take a lot of resources for the IRS to complete, so it is in their best interest to keep the process and the outcome as simple as possible. In the majority of cases, information needs to be provided and verified. Once you send in the information (or money), the audit is complete. A correspondence audit is the more common type of audit and can be handled entirely in writing.
Verify the audit is real: The IRS will not call you or email you to inform you of an audit, this information will only come in writing, in the mail. The IRS will also not ask you to provide personal information and will not demand that you pay in a certain way. Be on the lookout for fraudulent correspondence claiming that they are the IRS.
Carefully read, review, and respond to the letter: Most audits can be resolved fairly easily as noted above, but the key is to respond as directed by the IRS in a timely manner. Ignoring the request will not make it go away. If you do not understand what is being asked of you, seek the help of a professional tax service or attorney to give you advice about how best to respond.
The global mung beans market has grown at a steady rate in recent years. The major factors which have influenced the demand for mung beans include increasing health consciousness and rising applications in the food industry.
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