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Online solutions help you to manage your record administration along with raise the efficiency of the workflows. Stick to the fast guide to do Form 12153, steer clear of blunders along with furnish it in a timely manner:

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FAQ

What SasS is best for payroll?
Kredily is India’s only free HR & Payroll software and has been trusted by 1000+ companies. A few benefits of using Kredily Payroll software are.Completely customizable salary structures: With Kredily you can custom create salary structures as per your organization’s changing requirements and assign them to your employees.Clock-in & Clock-out: Track your employees in-time, out-time, breaks taken and total duration of breaks, with Kredily’s ‘Web Clock-in• feature. You can define settings to make sure attendance is calculated only on clocking the set number of hours.Location-based attendance: Track your employees' attendance location, when and where they clock-in to mark attendance.Biometric integration: Kredily provides integration services with ESSL and is working on biometric integration with other major players in the industry.Customizable attendance & leave rules: Custom define work week cycles, weekly offs, clock-in cut-off time, multiple shift rules, and manage how your employees' are assigned leave rules and how they can avail them.Centralized data: View your company’s entire attendance log at one-place and track all your employees' attendance & leave activity.Tax declarations made easy: We understand the hassles you and your employees have to face when it comes to tax declarations. We’ve taken the liberty to simplify the entire process for your employees to declare their investments and for you to approve/reject them.Statutory compliant: We at Kredily understand the importance of complying with the statutory rule and have simplified most compliance functions to make your life that much simpler.Data security guaranteed: We take data security very seriously because under no circumstance should your company’s and employees• data be compromised. We’ve taken the necessary steps to enforce stringent security protocols to safeguard all your data with us.UI/UX: A poor design means a poor experience. In today’s tech-savvy world, a poor experience means an inevitable death of the product. It’s essential that the software you choose is intuitive and easy-to-use not just for you but for all your employees as well. After all, you wish to make your life simpler using tools to automate your tasks not get lost in the clutter of a poor design.Support/Implementation: HR is a critical function for any company. Right from managing employees to running payrolls, a small error could often have a cascading effect. It is important that any software you choose provides you with the initial help to implement the software for your organization and support you through your journey till you’re well with the software.
What is it like to work for the IRS?
I worked for the IRS as an Internal Revenue Agent for 12 years (1966–1978). I conducted field audits of individual, corporation, partnership, fiduciary and excise tax returns. I learned a lot. At that time, new IRS Agents had to go through training for 6 months, studying the IRS Code and the IR Manual. Three out of 18 agents in my class did not make it through this training. We were vigorously tested in class everyday concerning tax laws, report writing, IRS procedures, oral presentation and general communication and people skills.At first it was fun. I was a young country boy and was not used to such authority as the IRS badge carries. That badge frightens people. I enjoyed that for a while until my true nature kicked in• a keen sense of justice, equity and respect for fellow human beings. The tax laws have always been and still are blatantly unfair and unnecessarily complicated. I tried to change that from within. I was respected for my knowledge of the tax laws, IRS procedures, report writing ability, communication skills and sense of justice, but my pleas with local upper management, regional and national management to revamp the IRS Code to make the laws fair and comprehensible for the common person could not materialize due to red tape and politics. I was never promoted to management level, and I was told that my attitude regarding justice and changes was what prevented it. Management could not tolerate such attitudes• you have to be a team player• and a team player goes along with the status quo.I was chosen several times to travel to the National Office to be a part of the team of accountants and lawyers who codify tax bills passed by Congress• that is they write the IRS Code language based on Congressional intent in tax bills they pass. This was not easy because Congressional representatives and assistants have to approve the language, so there was a lot of back and forth and frustration• especially if you wanted to change something to make it fair. One time I was chosen to be the chairperson for the 35-person team, and we really had a hard time because of my insistence that the law be fair and clear and free of tax code jargon and legalistic language. Sixteen team members kind of agreed with my approach, and three others were wavering, and this was enough to keep long, loud discussions going. I was replaced as chairperson after five days of heated deliberation and little progress in concluding our task.Working at the IRS became a headache, a personality-changing ordeal. To survive there, I found myself becoming hard-hearted, cold, arrogant, insensitive to people’s feelings and their lack of knowledge and courage to take a stand for justice and fairness. And that bothered me to the point where I could not handle it anymore. I had become a mean, aloof, authoritative person that I and my family did not even recognize. It bothered me to viciously enforce unjust tax laws with individuals while corporations got away with murder. I was removed from several large corporate audits because I was looking too closely and being too detailed• or as I was told, taking too much time and disturbing or disrupting corporate management. I did not mind strenuously enforcing corporate tax laws because corporations are artificial beings, not human. But still my mantra was and is: There is no just way to enforce an unjust law!Looking back, I perceive that maybe the change that took place in me was my fault. Maybe I should have rolled with the punches or at least not take it so personally and not let it affect me in the way that it did. I could have managed my feelings and emotions better and moved up to management level where I could have possibly made a big difference. I don’t know. Hindsight is 20/20.The IRS is a machine• a well-greased machine. Believe it or not, with all of its faults, it is one of the most efficient agencies in the government• at least it used to be. The Internal Revenue Code and the Internal Revenue Manual are probably two of the most complicated and practically incomprehensible documents in the world! So to manage a system in accordance with these documents is a challenge that most people cannot appreciate. Today I think the IRS is hiring incompetent people and not training them properly, and relying too much on technology for compliance. Personnel competence, human interaction and tax laws that are fair and comprehensible are better than a well-greased machine. My prediction is that if the system does not change it will soon become unmanageable and it will implode and collapse upon its own injustices. Citizens will not be able to afford to keep it going. Compliance is already waning, and there are far too many loopholes• especially for corporations. But, as Ronald Regan announced in one of his first speeches: “Corporations do not pay taxes• they pass taxes on to consumers through higher priced products and services.”Tax laws can be simplified. A tax return can be the size of a post card• with three lines:Enter your gross income from whatever source derived for the year:Multiply the amount on line 1 by 2.5%Enter the results here and submit a check for that amount to:Gross income means all amounts actually received regardless to the source, domestic and foreign. No such thing as tax-exempt income. No exemptions, no deductions, no withholdings. This would apply to individuals, corporations, partnerships and all other entities (including charities). The tax rate can be more or less than 2.5%. State rates would be half the federal rate, and local rates would be half the State rates. Rates would be determined based on balanced budgets of the governments. At any rate, everybody would know that only a certain percentage of their income would be available as disposable income. Taxes would be like all other costs of living. In this computer age, filing a tax return would not really be required, as the governments would already have the info required based on information returns filed with them; and the governments could simply send a bill for the amount due, with option for the taxpayer to file any exceptions. Yes, this is simplistic and might require much tweaking. But its a start to the goal of simplicity and fairness.After 12 years with the IRS I could not take it anymore. I resigned. I was fed up. I renamed the IRS the Infernal Robbery System• a system from hell that robs people! I began to write a book called “IRS: Infernal Robbery System” about my experiences there, but the memories became so unpleasant I abandoned the project. I started my own business with the idea that I and others could gather enough bold clients who would protest the tax laws until they are changed. Boy, was I disillusioned! I learned that most people do not want change, or do not want to risk taking a stand to bring about change. Right now, after 52 years of involvement with taxes, I am sick and tired of the whole mess. I am trying to get at least one of my children or grandchildren to take over my small tax practice, but they want no part of it. And I must say that I can’t really blame them.I hope this response is not too long.
Why do so many Republican presidential candidates criticize or even want to eliminate the IRS?
Republican presidential candidates (and presidents and Congressmen) heap abuse on the IRS because the GOP’s billionaire patrons want the IRS crippled—both legislatively and budgetarily—and most GOP voters are gullible enough to be fooled into thinking the IRS is their enemy.The IRS may be the people’s enemy in a kleptocracy, but in a rich democracy taxes are the lifeblood of our civilization—the social safety net—the network of rules and regulations that protect the little guy from the rich and rapacious.The lie that President Obama directed the IRS to persecute right wing action groups is the best example of this. 501(c)4 tax exempt organizations are supposed to be charitable entities like volunteer fire departments. But our right wing Supreme Court made it so Karl Rove’s political action operation could pretend to be a tax exempt charity with its donors free to be anonymous. When the Supremes did this to us in 2022. hundreds and hundreds of right wing Tea Party operations applied for tax exempt status, despite being nothing more or less than operations aimed at electing right wing Republicans.That was never the intent of the legislation. But by blowing it up into a phony scandal—which they flog constantly—it provides cover for this massive right wing tax avoidance scam.It feeds into the right wing paranoia about Big Government, right wing racism about President Obama, and the childish notion that you shouldn’t have to contribute anything to keep America running.Meanwhile the GOP’s patrons know that cutting IRS manpower won’t lessen the IRS’s ability to catch cheating by wage slaves—that can be done by computer. But cutting IRS manpower cripples the agency’s ability to pursue billionaire tax avoiders.So for GOP politicians bad-mouthing the IRS is yet another example of where the party’s patrons• wishes come first, and then they use skillful propaganda to fool Republican voters into thinking the Republican politicians are standing up for them.Want to live in a land without taxes? Be my guest:Mogadishu 1990
What is your opinion of increasing the "Kerala Flood Relief Fund from USA" amount from $100000 to $1600000? I am surprised to see that as this is the amount raised through Facebook donations and in addition to this people in India also contributed.
Facebook Fundraiser program is indeed a unique way to collect money from fellow users for both social and personal causes.It was started in 2022 but still limited to a few countries, mostly in Western world. This option isn’t much popular in India as the program/concept hasn’t been available in India.However, this was effectively put in use by a group of Malayalees in the US to raise both awareness and effective campaign during Kerala Floods 2018.Kerala Flood Relief Fund from USAIt was Mr. Arun Nella, a Malayalee entrepreneur and founder of a startup in Chicago thought of this idea and shared his idea with friends. They set the ball in motion and soon Mr. Ajomon, a Malayalee social activist of Chicago joined on board and took it to much higher level by linking this to Knanaya Catholic Yuvajanavedhi of Chicago (a Malayalee Catholic Youth Movement).Initially, they started as a personal fundraiser as the whole concept was new to them and there was a lot of unfamiliarities with the whole set of activity. They initially set a target of $ 1,500 as it was strictly limited to their acquittances. Then it was revised to $100,000 when more people in Chicago started contributing.However, within a day or two after the revision of the target, the news of such a fundraising program became very popular across US and many places outside US. Many Malayalee netizens started contributing and the amount soon crossed its set target. It was further revised to $1.5 Million.By this time, the news of such a fundraiser gained a worldwide popularity and many people even from other countries like UAE, Australia, European lands etc started contributing.The fundraising soon achieved its target. As it was initially started as a personal fundraiser, FB charged a fee for all its users. This was soon noticed and an appeal was made to Facebook. Soon FB cleared all the charges as the activity was for a public cause. US Tax agency- IRS cleared all taxes and other fees to allow a full remittance to this amount to India, considering the urgency. The fund was routed through an IRS approved Charity agency- Chase and Care.The news caught the attention of Kerala Chief Minister Pinarayi Vijayan who invited the initiators of this campaign to Trivandrum and meet him personally. Accordingly they came down and handed over the cheque of $1.4 million which translates to around INR 10.5 croresMr.Arun Nella and Ajomon handing over the first set of donation to Kerala CM-Pinarayi Vijayan at TrivandrumKerala IT Secretary Shivasankar IAS requested them to revive the fundraising program and assist in Kerala’s rebuilding efforts which they agreed. And Facebook immediately assisted them in reopening the cause. Currently, the second round of donation drive is under process and already the team has achieved around to 1.6 Million Dollars which is further increased as being an ongoing activity.They also have formed an NRI Community to assist Kerala relief operations in Chicago. Those in the US can effectively be part of this movement.Additional Reading: Two US-based Malayalis crowdfund over 1.5 million dollars for Kerala flood relief
Were you ever about to hire someone until they said or did something that immediately disqualified them?
Yes! The interview was almost over and I was still kinda on the fence about this guy. He was completely over qualified for the manager trainee position he was interviewing for but he cited desperate times. However, though I liked the answers to his questions, there was just something off about him.Before I concluded the conversation I asked him how he felt about people who were younger than him giving him instructions, showing him how to do things, and answering his questions. This was what I had needed to ask him from the start! He was older, maybe early 40s, and had worked in a white collar career for years. He looked at me innocently enough at first as though he wanted to ask why on earth that would ever happen.He took a deep breath and said, “I would have no problem with that so long as they weren’t ordering me around.”Immediately, that red flag in my mind went up further. “My employees have more experience than you do at this point and will for quite some time since you are beginning from scratch. There are only three managers here and we are busy running the store, picking up slack where it’s needed, managing customer issues and returns, unless we are specifically scheduled to be training you.”“How young are we talking?”“As young as 18.”He rolled his eyes. “I wouldn’t have any problem with that as long as they spoke to me with respect.”I smiled. “Respect is earned not given. This is a small store and everyone works together here.”“I just don’t understand why someone who isn’t a manager would have to tell me anything.”As this part of the conversation is going, he is growing more and more agitated. The facade he had put up was visibly melting as we spoke. I kept it calm and collected, even though I was beginning to feel as though I had wasted my time with this man. I don’t appreciate fakeness, especially if I’m going to be their boss and their true colors will show eventually. May as well be straightforward from the start. “As I said before, you will not only be brand new here but learning things they already know. They uphold policy and procedure daily. For a few months at least they will be more informed than you will be and you need to be open to asking for help from them as well as receiving help from them.”He was visibly annoyed at this point. “At my last job, the one I was at for 10 years, they kept hiring these new, young kids right out of college. They would order me around like they owned the place and eventually replaced me entirely.”There was such a level of bitterness oozing from him at this point. I knew just from his reaction to my question that he wouldn’t be the right fit and his words just reinforced that. “I am very sorry that happened to you..”Somehow I ended the conversation and I distinctly remember him saying something like, “Let me guess, you’ll give me a call?” With such attitude that I couldn’t even believe.A few days later, after discussing the situation with my store manager and gathering my thoughts, I did call him to inform him we were going in a different direction. He asked me why and I explained to him that not only was he over qualified but his prior experiences had affected his attitude and I couldn’t afford to bring that into my store. I told him I understood why he felt the way he did but if he wanted to be hired anywhere he needed to process what had happened. I felt so sorry for him, that he would have to stoop down to applying for a management trainee position at a sporting goods store at the age of 40, so, I felt I owed him the truth about why I wasn’t going to hire him.If you have bad experiences from prior jobs, do NOT bring them with you to your new job! No one expects it to not affect you but you don’t have to wear it like it’s a uniform. Work through it, learn from it, and move on. Don’t assume every place will treat you the same. But if you bring a bad attitude you better believe they won’t accept that.
How do I remove a paid IRS tax lien from my credit report?
How to Get Rid of a LienPaying your tax debt - in full - is the best way to get rid of a federal tax lien. The IRS releases your lien within 30 days after you have paid your tax debt.When conditions are in the best interest of both the government and the taxpayer, other options for reducing the impact of a lien exist.Discharge of propertyA "discharge" removes the lien from specific property. There are several Internal Revenue Code (IRC) provisions that determine eligibility. For more information, refer to Publication 783, Instructions on How to Apply for Certificate of Discharge From Federal Tax Lien (PDF) and the video Selling or Refinancing when there is an IRS Lien.Subordination"Subordination" does not remove the lien, but allows other creditors to move ahead of the IRS, which may make it easier to get a loan or mortgage. To determine eligibility, refer to Publication 784, Instructions on How to Apply for a Certificate of Subordination of Federal Tax Lien (PDF) and the video Selling or Refinancing when there is an IRS Lien.WithdrawalA "withdrawal" removes the public Notice of Federal Tax Lien and assures that the IRS is not competing with other creditors for your property; however, you are still liable for the amount due. For eligibility, refer to Form 12277, Application for the Withdrawal of Filed Form 668(Y), Notice of Federal Tax Lien (Internal Revenue Code Section 6323(j)) (PDF) and the video Lien Notice Withdrawal.Two additional Withdrawal options resulted from the Commissioner’s 2022 Fresh Start initiative.One option may allow withdrawal of your Notice of Federal Tax Lien after the lien’s release. General eligibility includes:Your tax liability has been satisfied and your lien has been released; and also:You are in compliance for the past three years in filing - all individual returns, business returns, and information returns;You are current on your estimated tax payments and federal tax deposits, as applicable.The other option may allow withdrawal of your Notice of Federal Tax Lien if you have entered in or converted your regular installment agreement to a Direct Debit installment agreement. General eligibility includes:You are a qualifying taxpayer (i.e. individuals, businesses with income tax liability only, and out of business entities with any type of tax debt)You owe $25,000 or less (If you owe more than $25,000, you may pay down the balance to $25,000 prior to requesting withdrawal of the Notice of Federal Tax Lien)Your Direct Debit Installment Agreement must full pay the amount you owe within 60 months or before the Collection Statute expires, whichever is earlierYou are in full compliance with other filing and payment requirementsYou have made three consecutive direct debit paymentsYou can’t have defaulted on your current, or any previous, Direct Debit Installment agreement.How a Lien Affects YouAssets • A lien attaches to all of your assets (such as property, securities, vehicles) and to future assets acquired during the duration of the lien.Credit • Once the IRS files a Notice of Federal Tax Lien, it may limit your ability to get credit.Business • The lien attaches to all business property and to all rights to business property, including accounts receivable.Bankruptcy • If you file for bankruptcy, your tax debt, lien, and Notice of Federal Tax Lien may continue after the bankruptcy.Avoid a LienYou can avoid a federal tax lien by simply filing and paying all your taxes in full and on time. If you can’t file or pay on time, don’t ignore the letters or correspondence you get from the IRS. If you can’t pay the full amount you owe, payment options are available to help you settle your tax debt over time.
Do colleges consider back taxes in their financial aid packages?
Normally I would say that You have to appeal, by showing significant evidence that what you reported to MIT in the FAFSA and PROFILE forms was wrong or mis-interpreted.But in your case, if your father owns a small business, then colleges tend to believe that people Hide money in a small business. Additionally, any review might include an extensive review of all of the savings and investments in your younger siblings names. Colleges tend to believe that families will hide money in younger siblings accounts. I saw one college (not MIT) put a family through the wringer to make certain that no cash was hidden.You can appeal, but you had better bring Strong Evidence and also explain why that evidence was not provided earlier. And of course the colleges rely upon the Federal IRS to verify everything, so be careful….All the best, and enjoy MIT.
The IRS knocked on my door saying it wasn't an audit but needed info. What could it be?
How to know its really the IRS calling or knocking on your doorMany taxpayers have encountered individuals impersonating IRS officials • in person, over the telephone and via email. Don’t get scammed. We want you to understand how and when the IRS contacts taxpayers and help you determine whether a contact you may have received is truly from an IRS employee.The IRS initiates most contacts through regular mail delivered by the United States Postal Service.However, there are special circumstances in which the IRS will call or come to a home or business, such as when a taxpayer has an overdue tax bill, to secure a delinquent tax return or a delinquent employment tax payment, or to tour a business as part of an audit or during criminal investigations.Even then, taxpayers will generally first receive several letters (called “notices”) from the IRS in the mail.Note that the IRS does not:Demand that you use a specific payment method, such as a prepaid debit card, gift card or wire transfer. The IRS will not ask for your debit or credit card numbers over the phone.Demand that you pay taxes without the opportunity to question or appeal the amount they say you owe. Generally, the IRS will first mail you a bill if you owe any taxes. You should also be advised of your rights as a taxpayer.Threaten to bring in local police, immigration officers or other law-enforcement to have you arrested for not paying. The IRS also cannot revoke your driver’s license, business licenses, or immigration status. Threats like these are common tactics scam artists use to trick victims into buying into their schemes.If you owe taxes:The IRS instructs taxpayers to make payments to the “United States Treasury.” The IRS provides specific guidelines on how you can make a tax payment at irs.gov/payments.Here is what the IRS will do:If an IRS representative visits you, he or she will always prtwo forms of official credentials called a pocket commission and a HSPD-12 card. HSPD-12 is a government-wide standard for secure and reliable forms of identification for Federal employees and contractors. You have the right to see these credentials.
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