There is evidence of thousands of years old underground plumbing at Mohenjo-daro, with water for pubic baths and private toilets.
Posted by sogdiania on 2013-02-15 20:01:45
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Sunday, July 31, 2016
You'll Feel Cheated When The Cruel Truth Behind E-Cigarettes Will Come Out
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Cigarettes are never good for your health.
You'll Feel Cheated When The Cruel Truth Behind E-Cigarettes Will Come Out
Take a deep breath, actually don't, if you're using an e-cigarette. The myth of safety regarding e-cigarettes lasted too long, and now it's time to bust this myth. E-cigarettes are not safe. If you're...[ad_2]
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6 Pocket Treats & Tea Bag Holder - A Mini Gift Idea (Just Add Chocolate) | LovenStamps
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LovenStamps: A Nice Cuppa - Video Tutorial for 6 pocket treats and tea bag holder - Mini Gift Idea for Stamps in the Mail Club with Meg (all supplies Stampin' Up!) - get your kit at LovenStamps
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Source by glendarouquette
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Delicious Foil Packet Meals for Camping
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Try these delicious foil packet meals for camping on your next camping trip. Great ideas to change up your summer menu too!
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Source by funcheaporfree
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Fiscal Policy or Monetary Policy, which will help us out of the recession?
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There is sometimes confusion around the difference between fiscal policy and monetary policy. Fiscal policy; Measures employed by governments to stabilize the economy, specifically by adjusting the levels and allocations of taxes and government expenditures.1 Monetary policy; The actions of a central bank, currency board or other regulatory committee that determine the size and rate of growth of the money supply, which in turn affects interest rates.2
Which one will help our current economic situation? While both are instruments that can be used by the government to influence the economy, monetary policy employs interest rates and money supply in this effort, while fiscal policy refers to taxing and spending by government to help stimulate the economy.
There are two means by which the government employs fiscal policy to influence the economy - taxing and spending. In a recessionary period like we are experiencing today, with increasing unemployment and slow business growth, government spending is a means of stimulating economic activity. Cutting taxes is another means by which government can put money back into the pocket of the consumer during a recession and thus stimulate economic growth. Conversely, during times of economic expansion, government may increase taxes, taking money out of the consumer's pocket in an effort to moderate economic expansion and quell inflation.
The current fiscal policy in the U.S. is sometimes called a loose or expansionary fiscal policy, one in which government spending is higher than revenue. The reverse is known as a tight fiscal policy, a fiscal contraction, during which revenue outweighs spending. During a fiscal expansion, such as the one we're in now, the desired effect of spending is to restore the output of goods and services, the gross domestic product, and put employees back to work. This, in turn increases the demand for goods and services and the overall health of the economy.
Unfortunately the fiscal policy of spending more than the revenue earned does not take into account the population confidence and emotional condition. The problem with the administration "printing more money" to create large stimulus packages to get businesses to start growth projects and expansion which in turn creates jobs and lowers unemployment, is that if the confidence of the business owners and executives is so low that they are remaining reluctant to begin growth and are continuing to add lay offs instead of hiring. This quickly becomes the vicious cycle, as the lay offs continue and consumer spending decreases, businesses decrease in production, causing more lay offs and less tax revenue is generated. With less revenue being generated and an increased need for stimulus, the administration is tempted to provide more stimuli at the expense of deficit growth.
While for the past decade or two the Federal Reserve Chairman Alan Greenspan was able to keep the United States from entering a recession by merely using monetary policy to regulate interest rates, with the situation we are in now monetary policy adjustments have little or no impact on our current economy. One must take into account a large reason of why the economy was easily regulated by monetary policy was the fact that the technology and real estate booms were experiencing out of control record expansion, consumer and business confidence was at an all time high, Wall Street and the stock market were experiencing record growth and profits and the unemployment rate was at an all time low.
The drastic change started in 2006 when the "perfect storm" hit Wall Street and the Capital had a drastic change in administration and congress control. With the combination of the technology crash in 2001, the Wall Street crash from September 11th 2001, the real estate bubble burst in 2007, bringing down Wall Streets biggest banks and insurance companies, and the drastic change in fiscal policy with an administration change in 2008 the economic situation was ripe for a dramatic change of direction and the recession was inevitable.
Though there are many philosophies, from the "experts," as to how we can and should treat this current economic situation, I have to think that the solution of instilling confidence in the small business owners to drive the economic turnaround is the quickest and safest bet.
Today, we stand on the threshold of economic recovery. According to the September 16th issue of The Wall Street Journal, "Federal Reserve Chairman Ben Bernanke said Tuesday that the recession was ‘very likely over,' as consumers showed some of the first tangible signs of spending again." As small business owners, it's now time to move out from under the cloud of fear and stand beside the banner of recovery.
Do you remember the 1983 film Mr. Mom, starring Teri Garr and Michael Keaton? In the film, Jack (Keaton) and Caroline (Garr) are married with three kids and living in the suburbs of Detroit, Michigan, during the 1980s recession. As the movie opens, Jack has just lost his job in the auto industry, [a big business], and Caroline has been hired by an ad agency, [a small business], forcing Jack to trade roles and become a stay-at-home Mr. Mom. 3
Like this fictional storyline, it is the small business growth that will help the struggling middle class recover and greatly instill consumer confidence, which in turn drives the economy forward. I know a large part of the of small businesses fear is the unknown of the administrations fiscal policy, taxes and mandatory healthcare expense, however that is just hearsay at this point and the current administration is starting to get the message of how the general public feels, with the results of the recent elections in New Jersey, Virginia and Massachusetts, that a majority of the people don't want those types of tax increases and out-of-control spending. I am fully aware that the high ticket item industries, such as the auto and real estate industries, have been damaged so badly that a lot of those small businesses that were associated with those industries are gone forever, however the owners and entrepreneurs of those business, which have proven to have the knowledge and skills to start and run a successful business, need the confidence and assets to start a new venture in another industry. The government needs to concentrate the stimulus dollars towards the current and past small business owners to begin to grow the confidence and economy through their fiscal policy.
Having been a small business owner myself, I was put in the situation where the cost of maintaining the business was far outweighed by the risks, like having clients go out of business unexpectedly while having outstanding bills to my business. The risks coupled with increasing fees, costs of doing business and the overwhelming employee costs, made it impossible for the business to grow and my personal investment was increasing, while the venture capitalist monies disappeared. The only clear choice for my partners and I was to close the business and for me to become a "Mr. Mom" and stay home with my children. With increased capital made available by the feds fiscal policy I would be much more likely to again take on the risks of starting up another small business.
This supports the theory that the current administration needs to stop the rhetoric of how they are going to fix the economy, stop dumping stimulus money at the large corporations that self perpetuated their current economic failings and begin to create a new fiscal policy that will support and encourage expansion and growth of the small businesses in America. I have to conclude that the fiscal policy has to change and be implemented first before the monetary policy can take effect.
We all must hope that the current administration finds the complicated formula and balance between increasing the stimulus and increasing confidence soon, as the economy needs to be on the upswing before the monetary policies of lowering interest rates can again have an effect and banks in turn begin to have the confidence to take on the risks of loaning money again.
1 Britannica Concise Encyclopedia 2009.
2 Investopedia.com 2009
3 Begin Your Economic Recovery. Lower Your Prices Now! January 20, 2010, Small Business Trends, By Susan L Reid
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Source by Paul J. Santucci
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30 Days to Better Brush Calligraphy | Dawn Nicole Designs
Prince Harry Was Hiding THIS About Princess Diana And It Is Revealed Here
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This is why he is the "Prince".
Prince Harry Was Hiding THIS About Princess Diana And It Is Revealed Here
Diana, Princess of Wales, is one of the most famous people in history. She was beautiful, generous, and deserved to be the wife of Prince Charles. She had a divorce with the Prince of Wales in August ...[ad_2]
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Brownie-Chocolate Chip Thumbprint Cookies - Chelsea's Messy Apron
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2-ingredient brownie center stuffed inside chocolate-chip cookies. Easy, creative, delicious!
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Source by erikamac96
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Taxpayer Rights during an IRS Audit
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Taxpayer Rights during an IRS Audit
Taxpayers are guaranteed certain important rights during audits and examinations. Among these rights is the right to be provided certain information describing the examination process and other rights at the commencement of the examination. Examinations must be conducted at a reasonable time and place and taxpayers have the right to bring representation to any interview. Taxpayers have the right to record any interviews with the agent. Taxpayers also have the right not to be interviewed, except through the summons process, and must be notified of any summons to a third party and of their right to quash any such summons. Importantly, taxpayers have the right to have their tax information kept confidential.
Burden of Proof
Under prior law, there was a rebuttable presumption that IRS's determination of tax liability is correct, and therefore (with some exceptions such as fraud), the burden of proof was on the taxpayer to show that the IRS's determination was wrong. Under new law, the IRS has the burden of proof in any court proceeding with respect to a factual issue related to income, estate, gift, and generation-skipping transfer taxes if the taxpayer introduces credible evidence relevant to the determination of the taxpayer's tax liability. To be eligible, the taxpayer must prove that he or she complied with required statutory and regulatory substantiation and recordkeeping requirements; cooperated with reasonable IRS requests for meetings, interviews, witnesses, documents, and information; and (if not an individual) met certain net worth limitations. Cooperation generally involves: providing reasonable assistance to the IRS in accessing witnesses, information, and documents not within the taxpayer's control; exhausting administrative remedies, including IRS appeal rights; and establishing the applicability of a privilege. Cooperation does not require that the taxpayer agree to an extension of the limitations period. The IRS continues to have the burden of proving fraud, irrespective of the new law.
Interacting with the IRS Agent
When possible, the taxpayer's representative, not the taxpayer, should interact with the agent. Indeed, in most cases, the meetings should take place at the representative's office, not the taxpayer's place of business. Direct contact between the agent and the taxpayer (or taxpayer's employees) should be minimized. Agents are trained in interviewing techniques designed to elicit information. They will ask open ended questions, and will listen carefully to the responses. Taxpayers who meet with an agent should be careful to answer only the question asked.
Absent having been served an administrative summons, a taxpayer has the right to refuse to be interviewed. Although, historically examining agents have been reluctant to press for taxpayer interviews, examining agents have become more aggressive in seeking taxpayer interviews and using summonses to compel them. If interviewed pursuant to a summons or otherwise, the taxpayer has a right to counsel and may assert appropriate privileges.
Care should be taken to create a complete record of all information provided to the examining agent. Maintain a detailed record of all documents and records provided to the examining agent. Maintain a record of any oral communication with the agent whether in person or by telephone. Confirm any material oral agreements in writing.
How Agents Gather Information
During the examination, the agent may request various types of documentation to verify items of income and expense on the return, including records, such as receipts, invoices, books, and worksheets. Revenue agents may also review prior or subsequent tax returns or the returns of related taxpayers.
Generally, agents have broad powers to compel production of relevant information. Nevertheless, certain types of information may be subject to privilege or otherwise not subject to compelled production. Once provided, the privilege is likely to have been waived. For example, an agent may ask to see invoices to substantiate a deduction claimed for professional services, such as accounting or legal fees. The descriptions of the services provided could contain information leading to another adjustment. If the descriptions of the services may be privileged, the taxpayer may be able to withhold the actual invoices in favor of some other proof of payment, or may be able to provide redacted invoices.
There has been much discussion about whether tax work papers can be so compelled. Tax work papers prepared in connection with the preparation of the tax return can be reviewed. However, audit accrual work papers, which may reflect opinions and estimates related to questionable items on the return, present a more complex question. Agents are cautioned in the Internal Revenue Manual to exercise restraint in this area, but the Service is becoming more aggressive, particularly where listed transactions are involved.
Keep in mind that the taxpayer's books and records may contain confidential information of another taxpayer, such as IP or the terms of a contract. The taxpayer may be under a contractual obligation to keep this information confidential. If the agent can not be convinced to accept redacted documents, the taxpayer may want to decline to produce the document unless an administrative summons is issued compelling its disclosure.
An agent will typically request documents and other information by issuing an Information Document Request (Form 4564). Initial requests at the beginning of an examination are typically fairly broad with subsequent requests focusing on specific issues. Keep careful track of IDR requests and items produced. Always maintain a duplicate copy of any documents that are provided and include a transmittal letter with any response describing the documents produced.
If a taxpayer fails to produce requested items, the Service can summons a taxpayer or third party for books, records or testimony. Agents are directed to make an attempt to obtain information informally before issuing a summons. Agents are instructed to consider issuing a summons when a taxpayer fails to make requested records available within a reasonable period of time; where the records submitted are known or suspected to be incomplete and the examining agent believes that additional records containing relevant and material matter may be in the possession of the taxpayer or a third party; and when the examining agent is in doubt as to the availability of pertinent records and wishes to obtain oral testimony as to what records may exist and their location.
When an administrative summons is issued, the summoned person must personally appear at the time and place specified with any requested items. The summoned person has the right to counsel, the right to assert the attorney-client privilege, and the right to raise the self-incrimination privilege under the 5th Amendment. The IRS can issue administrative summonses to third parties believed to hold relevant information. Notice of summons issued to a third party must be given to the taxpayer within 3 days of the date on which service is made to the third party and no less than 23 days before the summons return date. This is to allow the taxpayer sufficient time to file a petition to quash.
If a summoned party ignores the summons or otherwise fails to fully comply, the Service may bring legal proceedings to enforce the summons in federal district court. A court will generally enforce a summons if there is a legitimate purpose for the examination; the information demanded may be relevant to that purpose; the information is not already in the possession of the Service; the information or document is not privileged and the Service has complied with the applicable administrative requirements of the Code and regulations.
Dealing with a Potential Criminal Referral
If an agent has a "firm indication of fraud" he or she is required to suspend the civil examination without disclosing the reason to the taxpayer. IRS regulations prohibit an agent from developing a criminal case against a taxpayer under the guise of a civil investigation. Then the agent must refer the case to the Criminal Investigation Division. The agent may be aware of potential fraud before he has enough evidence to suspend the exam and turn over the case. Take care to look for clues in the agent's actions and behavior as to whether the nature of the case will shift to a criminal investigation. Among the tell-tale signs that a civil case may be heading toward a criminal referral is the sudden cessation of communication with you by the agent; the agent asks the client "state of mind" questions — usually starting with words like "why" and "didn't you know?"; or the agent issues summons for otherwise closed tax periods, or summonses are issued for periods other than those contained in the original examination notice. Most importantly, look for the appearance of a "special agent". A special agent is a federal law enforcement officer. He or she is required to identify himself as such and to give a Miranda-type warning. A special agent may arrive with the revenue agent or alone. Note that a special agent may make an unannounced visit to the taxpayer. The sole purpose of any such meeting is to catch the taxpayer off guard and without counsel, so that the client can incriminate himself. Because it is human nature to try to explain things, a taxpayer should be advised never to speak to a special agent without counsel present.
If an examination becomes a criminal investigation, or if you think that the examining agent is heading in that direction, consider the following: terminating all direct contact between the taxpayer and the IRS; obtaining taxpayer records from third parties and holding them; advising the taxpayer to refrain from witness tampering and document creation or alteration. Cooperation with the revenue agent will not save the day. If there is evidence of criminal conduct and that evidence is enough to obtain a conviction, there will be a referral, irrespective of how a taxpayer cooperates.
Dispositions of Audits — "Agreed" or "Unagreed"
Audits may be concluded with an "agreed case" or an "unagreed case." Of course, if the taxpayer presents sufficient documentation for the items at issue, the examining agent may accept the return as it was filed. If the taxpayer and the examining agent reach an agreement on adjustments, the taxpayer and examining agent complete a form describing the adjustments to the return and agreeing that any additional tax may be assessed. Where the taxpayer and the examining agent cannot reach an agreement, the examining agent's next step will depend upon whether there is sufficient time remaining on the statute of limitations on assessment3 (generally six months). If there is sufficient time left on the statute of limitations, the examining agent will prepare a report that will be reviewed by the examining agent's manager. Once approved, the report is sent to the taxpayer along with a "30-day letter". If there is not sufficient time left on the statute of limitations and the taxpayer will not agree to extend the statute, the report will be sent to the taxpayer with a statutory notice of deficiency (sometimes referred to as a "90-day letter").
A 30-day letter gives the taxpayer an opportunity to protest the examining agent's proposed adjustments to an administrative appeals officer. The taxpayer has 30 days within which to submit a written protest outlining the taxpayer's position on fact and law. Appeals officers are charged with evaluating the case ex parte based upon the record created by the revenue agent and as supplemented by the taxpayer. The appeals officer can uphold the examining agent; find for the taxpayer or attempt to reach a settlement with the taxpayer. The appeals officer is instructed to consider the "hazards of litigation" for both sides in his or her evaluation of the case. If the case is agreed at this level, the parties will sign an agreement permitting the Service to assess and collect the agreed amounts. If the parties can not reach an agreement or if the taxpayer does not respond to the 30-day letter, the appeals officer will issue a statutory notice of deficiency.
The Service must issue a statutory notice of deficiency before it assesses additional tax. The Notice gives the taxpayer one last chance to contest the proposed deficiency prior to paying it. A taxpayer has 90 days to file a petition with the Tax Court to redetermine the deficiency. If the taxpayer does not respond to the 90-day letter, the Service will assess the proposed deficiency and will issue a bill to the taxpayer. At this point, the taxpayer must pay the amount assessed. The taxpayer then has the opportunity to contest the assessment by filing a refund claim. If the refund claim is disallowed, the taxpayer may then file a refund suit in United States District Court or United States Court of Claims
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Source by santhosh kumar k
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![hrithik-roshan[1]](http://farm6.staticflickr.com/5041/5366144539_eda7ce7a6d.jpg)
The remains of Mohenjo Daro, an ancient city built on the bank of the Indus River
Posted by Pak Journey on 2007-05-19 23:41:22
Tagged: , Pakistan , Mohenjo , Daro , Ancient , Indus River
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18 Best Halloween Coloring Books for Adults
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Creative Haven Steampunk Fashions Coloring Book (Creative Haven Coloring Books)
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Source by shyness8o7
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20 Easy & Creative Old Furniture Hacks
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Don't throw away your old piece of furniture, before doing this consider these easy and creative old furniture hacks.
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Source by kdalbrecht
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To stay the course, sometimes you have to make WAVES.
#TravelPosterSeries
Via: Aakash Ranison
Source: http://aakashranison.com
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Adding Whimsy to Your Handwriting #LoveYourLettering - Looking at life CreativLEI
Saturday, July 30, 2016
Professional Resume Template for Word & Pages | 1, 2 and 3 Page Resume Template + Cover Letter + References + Icons | Creative Resume
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Professional Resume Template for Word & Pages | 1, 2 and 3 Page Resume Template + Cover Letter + References + Icons | Creative Resume
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Source by agnieszkakmak
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Pottery, A09A8967
Pottery pieces was founded during excavation at Mohnjo-daro belong to Indus Civilization.
Posted by Nadeem Khawar. on 2014-02-27 09:17:10
Tagged: , Nadeem Khawar , PAKISTAN , Mohenjo-daro , Pottery , Sindh
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20 Fun Christmas Decorations - Thrifty T's Treasures
How To Create Products To Monetize Your Blog
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Blog Tips | Creating and selling your own products is a great way to make money with your blog. This post walks you through the entire process from start to finish and offers creative ideas for products and services you can sell.
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Source by hollholl01
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Fraction Flowers with Paper Plates
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Learn fractions in a creative way by making these fraction flowers out of paper plates- includes a set of printable fraction circles. This makes learning math fun!
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Source by gmptfitness
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Canon T5 Digital SLR Camera + 18-55mm IS II 3 Lens Kit + 16GB Top Value Bundle
Canon T5 Digital SLR Camera + 18-55mm IS II 3 Lens Kit + 16GB Top Value Bundle
Price : 354.95
Ends on : [readable_time]2016-07-17 22:55:12[/readable_time]
View on eBay
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How to price your crafts painted furniture and other creative work. This webinar...
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How to price your crafts painted furniture and other creative work. This webinar will help your determine fair prices and help you start charging for your talents! by Jennifer Allwood of theMagicBrushinc.com
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Source by kelliarmstrong9
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