May 23, 2016
As a result of the Labor Department's new overtime rules, management positions in restaurants will disappear, limiting career advancement and hurting restaurant employees and owners, according to the National Council of Chain Restaurants.
May 22, 2016
Most expatriate U.S. citizens need to file by June 15, 2016. Taxpayers who need to file an FBAR (Foreign Bank and Financial Account Report) must file by June 30. More than 1 million taxpayers filed an FBAR in 2015. Taxpayers with foreign assets, even ...
May 17, 2016
A couple of Texas tycoons who lived life high on the hog have been found guilty of tax fraud. A U.S. bankruptcy court ruled that two brothers and business associates, Sam and the now-deceased Charles Wyly, used complex offshore trusts and shell ...
May 17, 2016
Like a bad penny, the IRS-Tea Party scandal won’t go away. Now some Republican lawmakers are calling for the impeachment of IRS Commissioner John Koskinen over his handling of the affair, accusing ...
May 12, 2016
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 11, 2016
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
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
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
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 3, 2016
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.
May 2, 2016
Estimating the gap requires a “major statistical effort,” according to the IRS, so the gap is only estimated every few years. The last full update reported showed that the compliance rate for tax year 2006 was basically unchanged from the report on ...
May 2, 2016
Three keynote presentations will focus on generational engagement strategies, medical marijuana legalization and a look at the current state of the industry.