Taxes December 24, 2025
Tax Tips on Life Insurance Loans
If you acquire permanent whole life insurance as opposed to term life insurance, your premium payments build up a cash value in the policy.
June 11, 2015
IRS Interest Rates to Remain Same for Q3 2015
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.
June 11, 2015
FBAR and FATCA Filings Due June 30 for Taxpayers with Overseas Assets
FBAR refers to Form 114, Report of Foreign Bank and Financial Accounts, that must be filed with the Financial Crimes Enforcement Network (FinCEN), which is a bureau of the Treasury Department. The form must be filed electronically and is ...
June 10, 2015
Congress Considers 7.7% Cut to IRS Budget
The fiscal year 2016 Financial Services and General Government Appropriations bill, which provides funding for the Treasury Department, the Judiciary, the Small Business Administration, the Securities and Exchange Commission, and several other agencies.
June 7, 2015
Nine Tips to Avoid Investment Scams
The world is full of ambitious people with big ideas. Unfortunately, often the big idea is to separate you from your money. Don't get scammed. If you're considering making a significant investment in a start-up or early stage company, follow these ...
June 5, 2015
How to Handle Short Time-Frame Tax Audits
As if getting audited wasn’t bad enough, now the IRS has added a new twist: the short timeframe audit. With these types of audits, it is possible that an audit case could be closed by the IRS before your client has a chance to show you the letter. This ar
June 5, 2015
AICPA Urges Congress Committee to Approve State Tax Simplification Act
The American Institute of CPAs is urging the House Judiciary Subcommittee on Regulatory Reform, Commercial and Antitrust Law to approve H.R. 2315, the Mobile Workforce State Income Tax Simplification Act of 2015.
June 4, 2015
Xero Partners with Avalara to Give Small Businesses Automated Sales Tax Rates and Compliance
A new partnership with Avalara now lets users of the cloud-based accounting and business management system Xero can now automate their sales tax collections and reporting. The new integration allows Xero users to quickly access the most current sales tax
June 3, 2015
Joseph Falbo, CPA Elected New President of New York CPA Society
Falbo is a partner and member of the executive committee at Tronconi Segarra & Associates LLP in Williamsville, N.Y. He has been a member of the Society since 1994 and is a member of its Buffalo Chapter.
June 2, 2015
Avalara Acquires Telecom Tax Compliance Provider EZtax
The $5.6 trillion worldwide telecom market is subject to multiple tax laws and regulations that are highly complex and constantly changing. EZtax offers cloud-based solutions that address this complexity.
May 31, 2015
How to Handle the Clients From Hell
According to the IRS 11 percent – or about 20 million taxpayers -- believe it is acceptable to cheat on their taxes. It’s a problem when you realize that many of these people are your clients. The Clients from Hell.
May 28, 2015
Despite Recent Breach, Report Says IRS Getting Better At Detecting and Preventing Tax ID Theft
The extent of the IRS’s ability to stem this problem is still limited because it does not have access to third-party income and withholding information until well after tax return filing begins.
May 27, 2015
How Tax Professionals Can Avoid Getting Involved with Tax Frauds
A whopping 11 percent of Americans believe that it is okay to cheat on their taxes, according to the most recent IRS Oversight Board Survey of Taxpayer Attitudes. Unfortunately, successful fraud for many individuals will require either lying to their ...