Income Tax October 24, 2026
A Corrected Tax Document Arrived After Review. What Needs to Reopen?
The operational question is not whether the upload succeeded. It is whether the change reached the person responsible for deciding what happens next.
May 17, 2016
NSA Wants Major Changes To IRS Technology
The National Society of Accountants says that major changes to the technology and infrastructure the IRS uses is necessary to provide effective and responsible service.
May 12, 2016
New Report Gives Tax Pros Guidance to Help Clients Facing ID Theft
Thomson Reuters has released a special report, What to Do If Your Client is a Victim of Tax-Related Identity Theft, which provides helpful guidance for tax professionals advising victims of tax-related identity theft.
May 12, 2016
Trump Won’t Release Tax Returns Before Election
President Richard Nixon did so, while under audit, and Gerald Ford followed suit upon attaining the Presidency. Every presidential nominee of the two major political parties have released their returns since.
May 11, 2016
Maruca Honored for Distinguished Service in Taxation
Samuel M. Maruca of Covington & Burling LLP has been announced as this year’s recipient of the inaugural recipient of the 2015 Leonard L. Silverstein Award for Distinguished Service in Tax. The award, presented by Bloomberg BNA, recognizes his long ...
May 11, 2016
Tax-Exempt Filing Deadline is May 16
The IRS is reminding these groups not to include Social Security numbers (SSNs) or other unneeded personal information on their Forms 990, and consider taking advantage of the speed and convenience of electronic filing.
May 9, 2016
Tax Court Sides With Hair Stylist In Hobby Loss Case
She reported gross receipts of only $325, while claiming $16,131 in expenses, consisting of $13,000 in rent, $590 of hair products, $909 for a landline phone service, $600 for website maintenance, $552 for cellphone expenses and $480 for supplies.
May 8, 2016
Advancements in Technology Are Driving Risk of Tax Controversy
Controversy is also expected to increase due to international regulatory initiatives that demand country-by-country reporting. Countries adopting the OECD Base Erosion and Profit Shifting recommendations are not likely to be consistent.
May 6, 2016
IRS Issues Temporary Regulations for PEO Voluntary Certification
The Internal Revenue Service has released temporary and proposed regulations implementing a new voluntary certification program for professional employer organizations (PEOs).
May 6, 2016
How to Calculate the Taxable Amount of an IRA Withdrawal
One of the issues that often causes a high degree of client confusion is whether or not a withdrawal from their IRA account will be taxable, and if so, to what extent.
May 6, 2016
Xero and Expensify Partner for Improved Integration
The improved integration includes auto-matching Expensify transactions directly into Xero bank accounts, which removes the need for manual reconciliation by the administrator. Expensify has also added purchase tax support for any tax rate supported ...
May 3, 2016
How Trailing Nexus Works – Sales and Use Taxes
Many companies assume that when they leave a state they no longer have sales tax obligations there, besides keeping records. However, for a great number of states this just isn't the case. Watch the video to learn about trailing nexus and how it can ...
May 3, 2016
Now’s the Time to Tune-Up Estimated Taxes
It’s important to have your tax situation assessed and updated periodically, especially if you’re self employed or retired and paying quarterly estimated tax installments. Otherwise, you could be liable for penalties.