Taxes

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March 2, 2016 

Association Tells IRS That Hike in EA Test Fees Are Too Much

NAEA President Terry Durkin, EA, has requested that IRS share the costing models or methodology used to derive the user fees, but as of today NAEA has not received that information. Without this information, it is difficult to determine whether or not ...

 IRS Warns Payroll and HR Pros of W-2 Scams

March 1, 2016 

IRS Warns Payroll and HR Pros of W-2 Scams

The Internal Revenue Service has issued an alert to payroll and human resources professionals to beware of an emerging phishing email scheme that purports to be from company executives and requests personal information on employees.

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March 1, 2016 

New Tax Laws Offer Big Benefits to Some Small Businesses

This legislation included the extension of more than 50 tax credit and incentive programs that expired on Dec. 31, 2014 – among them an array of federal tax credits that offer incentives to employers who implement various hiring, training and ...

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February 29, 2016 

Comparing the Income Tax Returns of the 2016 Presidential Candidates

The latest dust-up involving Donald Trump, the front runner for the Republican presidential nomination, centers around his federal income tax returns. To this point, Trump has declined to release information about his latest tax returns, citing ongoing audits as this reason for the refusal. In the meantime, chief GOP rivals Ted Cruz and Marco Rubio...…

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February 29, 2016 

Scammers Get Creative With Leap Day

You know you’ve been the consumer watchdog reporter for a long time when you start to think like a scammer. That’s exactly how my brain was working a week ago when I saw Leap Day was fast approaching. “I’ll write about all the Feb. 29 swindles that people should watch out for,” I thought. Incorrectly,...…

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February 26, 2016 

New Law Increases Penalty for Not Filing Income Taxes

This penalty is equal to 5 percent of the additional taxes owed amount for every month (or fraction thereof) your return is late, up to a maximum of 25 percent. Previously, the minimum penalty for failing to file a return within 60 days of the due date ..

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February 26, 2016 

ADP Gives Accountants Free HR HelpDesk Access During Tax Season

ADP is offering accountants and their small-business clients free access to the ADP HR HelpDesk during tax season. This offer is available to accountants nationwide who can also select up to five of their small-business clients (those with fewer than ...