Taxes

 IRS Expects Hold Times To Increase At Call Center

February 13, 2014 

IRS Expects Hold Times To Increase At Call Center

The Internal Revenue Service is reminding taxpayers that phone calls to the agency's support center usually start to dramatically increase following the President's Day holiday, which is this weekend. There are other options for taxpayers who have questions, of course, starting with using a tax professional such as a CPA or Enrolled Agent.

Isaac M. O'Bannon

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February 13, 2014 

New CBO Report Links Obamacare to Job Losses

In the wake of a new report from the Congressional Budget Office (CBO) assessing the impact of Obamacare on employment, Republicans in Congress are renewing some objections to the controversial legislation and modifying others.

Ken Berry, JD

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February 13, 2014 

Reality Bites: The New 3.8% Net Investment Income Surtax

The specter of the dreaded new surtax on “net investment income” (NII) has turned into reality. For the first time ever, some upper-income taxpayers will have to pay the 3.8% surtax on their 2013 income tax returns. This could be a harrowing experience for some of your clients.

Ken Berry, JD

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February 12, 2014 

Are Your Clients Overlooking Tax-Free Fringe Benefits?

We get so busy during tax season that we often barely have time to breathe. Even so, I want you to do some reading. Call the IRS at 800-TAX FORM (800-829-3676) to get a printed copy of IRS Publication 15-B. Have you ever read it? It’s all about fringe benefits.

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February 12, 2014 

System Puts Gathering Client Tax Documents on Auto Pilot

It’s the just the beginning of tax season, but most tax professionals likely already have a digital pile of client returns that are “in progress,” and will likely remain that way for weeks or months. Not because the firm hasn’t gotten to them yet, but probably because they are still waiting on clients to send…

Isaac M. O'Bannon