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.
August 26, 2015
A Lawsuit the IRS Needs to Lose
The IRS needs to lose this case for the callous way they disregarded the importance of safeguarding taxpayer information from data thieves, and because it would finally set a legal precedent for organizations to be held fiscally responsible for losses ...
August 26, 2015
Back-to-School is a Good Reason for Accounting Firms to Check-In with Clients
Understanding the deductibility of school costs for children can be challenging. That’s one reason why back-to-school season is a good time to check in with your clients who have kids. It’s an opportunity to combine your mid-year tax planning with a remin
August 24, 2015
A Cannabis Niche for Accountants? Working With Businesses that Grow and Sell Marijuana
No matter how you personally feel on the subject, the reality is that legal Cannabis is becoming a booming business, ripe with opportunities for an accounting practice to work and consult with businesses in the marketplace on a full range of tax ...
August 24, 2015
New Cloud-Based BNA Sales Tax Rates System Offers More Search Functions
The system includes a new web-based interface and more search options and the ability to receive automatic delivery of access links to the latest sales tax rates, helping provide accurate sales and use tax rates when and where they are needed.
August 24, 2015
When Can Businesses Claim 100% Deduction for Employee Meals?
If more than half of the employees are furnished meals for the employer’s convenience, the meals for all employees are treated as being furnished for the employer’s convenience, even if the rest of the employees don’t meet this test. This rule could be cr
August 20, 2015
A Cannabis Niche for Accountants? Working With Businesses that Grow and Sell Marijuana
No matter how you personally feel on the subject, the reality is that legal Cannabis is becoming a booming business, ripe with opportunities for an accounting practice to work and consult with businesses in the marketplace on a full range of tax ...
August 19, 2015
Tax Alert: New Deadline for FBAR Filing
Due to a little-noticed provision in the new highway appropriations bill signed into law on July 31 – the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 – the deadline for filing an FBAR (Report of Financial Bank and Financial Accounts) has been moved up from June 30 to April 15. But...…
August 19, 2015
Back to College? Don’t Forget the Tax Credits and Deductions
The credits apply to eligible students enrolled in an eligible college, university or vocational school, including both nonprofit and for-profit institutions. The credits are subject to income limits that could reduce the amount claimed on their tax ...
August 19, 2015
IRS Data Breach Was Much Worse Than Initially Thought
The IRS has a confession: The data breach involving its “Get Transcript” app was larger than it initially reported. How much larger? About three times as much.
August 19, 2015
Highway Use Tax Returns Due Aug. 31
The deadline generally applies to Form 2290 and the accompanying tax payment for the tax year that begins July 1, 2015, and ends June 30, 2016. Returns must be filed and tax payments made by Aug. 31 for vehicles used on the road during July.
August 18, 2015
New Version of Bloomberg BNA Tax Managment Portfolio Analyzes Trends in Unclaimed Property Laws
Bloomberg BNA has released a new edition of Unclaimed Property, its Tax Management Portfolio providing in-depth analysis and practical insights from prominent practitioners on escheatment and unclaimed property laws.
August 14, 2015
3 Ways to Win New State and Local Tax Clients
Large corporations with armies of attorneys and accountants excel at taking advantage of tax credits and finding cost saving elements within a specific industry. Yet smaller companies tend to self-censor, assuming they don’t qualify.