IRS raises prices on private letter rulings — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
If you want a private letter ruling from the IRS, the price tag has gone up. (Revenue Procedure 2015-1, 1/2/15) Effective Feb. 1, 2015, the cost for a taxpayer with income under $250,000 is $2,200 (up from $2,000); for a taxpayer with income between $250,000 and $1 million it’s $6,500 (up from $5,000); and a whopping $28,300 (up from $19,000) for those with income above $1 million.
The IRS is in the middle of intensive line-by-line payroll audits to ensure that your withholding procedures are 100% correct. And it's not just the IRS. The U.S. Department of Labor has been on the prowl lately for employers that slip up on the confusing retirement contribution rules....Click here to find out more.