Taxes November 5, 2026
IRS Adjusts Tax Brackets, Standard Deduction for Tax Year 2027
The IRS has released the tax year 2027 annual inflation adjustments for nearly 70 tax provisions.
September 17, 2014
Back to School is a Good Time to Look at Education Tax Credits and Deductions
With students now back to school or college, tnow is a good time to see if they will qualify for either of two college tax credits or any of several other education-related tax benefits when they file their 2014 federal income tax returns.
September 16, 2014
AICPA Urges Congress to Act on Tax Extenders
The American Institute of CPAs (AICPA) is urging Congress “to immediately address the fifty-seven tax provisions that expired at the end of 2013 and the six tax provisions that expire at the end of 2014.” Congress began consideration of extenders legislation earlier this year, the AICPA wrote in its September 15 letter, but “America’s businesses...…
September 16, 2014
IRS Videos Focus on Taxpayer Bill of Rights
The Internal Revenue Service has released a new YouTube video encouraging taxpayers to learn about the Taxpayer Bill of Rights.
September 16, 2014
Order Up: Clarifying Tax Deductions for Business Meals
Where the IRS is concerned, there’s no such thing as a free lunch. However, your clients may be able to deduct costs of certain meals, including lunches, if they meet the tax law requirements. Generally, write-offs for such meals are limited to 50% of the
September 14, 2014
Report Says IRS Needs to Improve Handling of Complaints Against Tax Preparers
The Internal Revenue Service (IRS) is not processing complaints against tax preparers in a timely manner, according to the latest report publicly from the Treasury Inspector General for Tax Administration (TIGTA).
September 14, 2014
Travel & Entertainment: How to Stay Within Tax Boundaries for Temporary Assignments
[This is part of a series of articles on maximizing deductions for travel and entertainment (T&E) expenses.] Normally, you can’t deduct the cost of traveling between your home and your job, even though the travel is, in reality, business-related. The IRS considers “commuting” to be a nondeductible personal expense. However, if you qualify under the IRS’...…
September 12, 2014
Stagnant Salaries a Lingering Weak Spot for Job Market
The U.S. job market has steadily improved by pretty much every gauge except the one Americans probably care about most: Pay.
September 11, 2014
Bipartisan Representatives Urge Congressional Leaders to Save Cash Method of Accounting
A bipartisan majority of the U.S. House of Representatives – 233 members – have signed a letter urging the House leadership to preserve the cash method of accounting for tax purposes, writing that proposals requiring a transition to the accrual method ...
September 11, 2014
CPAs Challenge the IRS on PTIN Fees
First, a federal appeals court invalidated most of the regulations imposing continuing education and other regulatory requirements imposed by the IRS on tax return preparers (Loving, et al v. IRS, Civil Action 12-385 (JEB), U.S. Dist. Ct. DC, 1/18/13). .
September 10, 2014
IRS Direct Pay System Passes One Million Payments Made
With more than one million tax payments already processed this year through IRS Direct Pay, the Internal Revenue Service is encouraging taxpayers with upcoming tax payment deadlines to consider choosing this free online system to quickly and easily pay what they owe.
September 9, 2014
New IRS YouTube Videos Focus on Healthcare Reform, Tax Form Changes
The Internal Revenue Service has released several new YouTube videos to help taxpayers get important information about the Affordable Care Act and tax return filing.
September 9, 2014
Tax Professionals Sue the IRS to End PTIN Fees
A pair of Certified Public Accountants has filed suit against the Internal Revenue Service and the Treasury Department in an effort to stop the government from imposing fees on tax preparers (Preparer Tax Identification Number) and to recover fees, plus interest, that they and other preparers have paid in past years.