Latest Articles

 Tax and Financial Implications of the Supreme Court’s Ruling on Marriage Equality

June 26, 2015 

Tax and Financial Implications of the Supreme Court’s Ruling on Marriage Equality

Tax and Estate Planning experts from the Modern Family & LGBT Services Practice group at Marcum LLP responded to the financial implications of today’s U.S. Supreme Court decision establishing same-sex marriage as a legal right in all 50 states. The Court’s decision in Obergefell v. Hodges determined that the Fourteenth Amendment requires all states to license...…

 Tuesday June 30 is Filing Deadline for FBARs

June 25, 2015 

Tuesday June 30 is Filing Deadline for FBARs

FBAR refers to Form 114, Report of Foreign Bank and Financial Accounts, which must be filed with the Financial Crimes Enforcement Network (FinCEN), a bureau of the Treasury Department. It is not a tax form and cannot be filed with the IRS.

 The Impact of Scan and Organize on a Tax Engagement

June 24, 2015 

The Impact of Scan and Organize on a Tax Engagement

It is useful to separate scanning in accounting firms into two categories. One type of scanning includes individual documents or a small number of miscellaneous documents. The other type of scanning is higher volume, and depending upon firm size, more ...

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June 23, 2015 

Summer Jobs and Taxes: What Teens and Parents Need to Know

School’s out for summer! While it’s a time for rest and recreation, many of your clients have teenaged children who will be working during the summer months. It teaches them about responsibility, work ethic and, not surprisingly, taxes.

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June 23, 2015 

AICPA Recommends Form 990 Changes to IRS

The American Institute of CPAs (AICPA) offered more than 40 recommendations to the Internal Revenue Service (IRS) last week for the Form 990, Return of Organization Exempt from Income Tax, and instructions.