You probably know that non-exempt employees are covered under FLSA, which imposes requirements for overtime and other aspects of employment. Exempt employees, on the other hand, are not subject to FLSA.
Unless you’ve been living under a rock the last few years, you’re well-aware that the massive health care legislation known informally as “Obamacare” by both its detractors and proponents remains the law of the land.
Starting this year, the credit goes up to 50 percent for for-profit entities, and 35 percent for tax-exempt ones.
Responding to a Freedom of Information Act request, the IRS has released a series of documents, including training materials used by agents relating to how it recognizes and treats exempt organizations like nonprofits.
The IRS recently said that the 2014 tax filing season for individual returns won’t kick off until January 31, a delay of ten days due to the government shutdown last October. But taxpayers using the IRS’ Free File program can still get a head start.
Three more suspects pleaded guilty in federal court in Miami Friday for their roles in a $7 million scheme that used the identities of dead people to file fraudulent income tax refund claims, U.S. Attorney Wifredo A. Ferrer said.
The IRS has released individual income tax rates for tax year 2014. This is for the tax year ending Dec. 31, 2014, which will be filed before April 15, 2015.
When the ball dropped in Times Square at midnight on New Year’s Eve, it did more than signal the start of another year. It also officially closed the books on several significant tax breaks for individuals and small business owners. Unless these provisions are resurrected by a bipartisan Congress – no sure bet – they won’t be available in 2014.