Taxes

January 16, 2016 

The Intuit ACA Resource Center, a part of the Intuit Tax Pro Center, includes easy-to-use guides and tools designed to make it easy for tax professionals to stay updated on changes in ACA compliance and requirements for reporting client health ...

January 15, 2016 

Avalara, Inc. has attained Workday Certified Solution Partner status. Avalara, which is a provider of cloud software for tax compliance, is a Workday software partner. With this certification, Avalara now provides customers with a real-time ...

January 15, 2016 

Thomson Reuters has released a special report highlighting key tax developments in 2015 to aid practitioners in 2015 tax return preparation and support 2016 planning.

January 15, 2016 

The Internal Revenue Service will open the nation’s 2016 individual income tax filing season on Jan. 19, with more than 150 million tax returns expected to be filed this year. People will have several extra days to file their tax returns this year. Taxpayers have until Monday, April 18, to file their 2015 tax returns...…

January 15, 2016 

Carson would also eliminate deductions for charitable contributions, mortgage interest and state and local income taxes, while repealing the alternative minimum tax (AMT), the earned income credit and the rules for depreciation.

January 14, 2016 

Playing the lottery is a form of gambling. As a result, the usual federal tax rules apply to income and losses resulting from gambling activities. Generally, you can only deduct your losses from wagering up to the annual amount of your income from ...

January 12, 2016 

How do you know if someone has filed a tax return using your Social Security number? And what do you do then? This is happening more and more—the latest General Accounting Office (GAO) report says that IRS paid out over $5.8 billion in fraudulent returns.

January 12, 2016 

  The American Institute of CPAs (AICPA) has submitted comments to the Internal Revenue Service (IRS) about the IRS’s new policy of issuing estate tax closing letters only upon a separate request four months after filing the estate tax return.  The IRS announced changes related to the issuance of estate tax closing letters on the...…

January 12, 2016 

Retirees can once again transfer funds from a retirement account to charity with zero tax consequences. And the new law makes this tax break permanent, so you can now incorporate this strategy into your clients’ long-term plans.

January 11, 2016 

The new tax law signed at the end of last year – the Protecting Americans from Tax Hikes (PATH) Act of 2015 – improves the tax-free transportation benefits that may be offered to employees.

January 7, 2016 

[The new “extenders law” enacted late in 2015 retains several key tax provisions and makes them permanent with certain modifications. This is the third part of a series of articles on these tax breaks.]   The tax law offers some tax relief to cash-strapped parents who are paying for the cost of higher education. Notably, the biggest...…

January 6, 2016 

Several state health groups have praised the move, saying it will help to reduce the number of people who smoke. Danielle Patterson, the Indiana government relations director for the American Heart Association, called it a "win-win" situation in that ...