Income Tax

 Group Says Tax Extenders Would Renew Wasteful Loophopes

December 5, 2014 

Group Says Tax Extenders Would Renew Wasteful Loophopes

The Financial Accountability and Corporate Transparency (FACT) Coalition is calling on Congress to reject the tax extenders package that includes two wasteful offshore loopholes that allow U.S. companies to dodge billions worth of taxes.

 Online Charitable Giving Increases 10% in Third Quarter

December 3, 2014 

Online Charitable Giving Increases 10% in Third Quarter

The latest Blackbaud Index shows that online giving increased 10.6% for the three months ending October 2014 as compared to the same period in 2013. Overall charitable giving to nonprofits increased 0.2% for the period.

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November 29, 2014 

U.S. Senator Suggests Income Tax Incentive for Food Bank Donations

On the day before Thanksgiving, U.S. Senator Bob Casey (PA, D.) called upon Congress to step up the fight against food insecurity nationally by approving a Senate bill that would increase tax incentives for individuals and small and mid-sized businesses donating food to food banks. Senate Bill 1395, known as the Good Samaritan Hunger Relief...…

 Marijuana and Accounting Revisited

November 25, 2014 

Marijuana and Accounting Revisited

Two years ago, in the wake of the election ballots legalizing recreational use of marijuana, I wrote a small blog post noting that as a new and rapidly-growing industry, there might be an opportunity for a new accounting practice area.

Dave McClure

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November 25, 2014 

Prisoners in U.S. Find Hobby in Income Tax Fraud

Tax refund fraud associated with prisoner Social Security Numbers remains a significant problem for tax administration, according to a report by the Treasury Inspector General for Tax Administration (TIGTA).

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November 19, 2014 

Will Like-Kind Exchanges Survive Tax Reform?

Legislative proposals to curtail or eliminate the tax benefits of like-kind exchanges are in the works. With a lame-duck Congress finishing out this year and a brand-new class of lawmakers entering 2015, no one can be sure if this tax break will ...

Ken Berry, JD

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November 19, 2014 

The Top 10 Myths of the 2014 W2 and 1099 Reporting Season

As if Black Friday shopping and the hustle and bustle of the holiday season weren’t taxing enough, it’s also time to think about tax reporting. This time of year, it can be difficult to keep track of our schedules and to-do lists, let alone the ever-chang

 How to Build a Fraud-Resistant Business

November 18, 2014 

How to Build a Fraud-Resistant Business

Financial reporting fraud can prove costly for investors and other capital market stakeholders. A new report from the Anti-Fraud Collaboration takes a fresh look at best practices for fraud deterrence and detection, highlighting the critical importance of