February 23, 2016
Americans are ignoring simple precautions and best practices this tax season that could easily lead to stolen identities and hacked personal information, according to a new national survey by IDT911, a data security and identity theft protection firm.
February 22, 2016
Investigations completed in the last five quarters nationwide have resulted in fast food employers paying more than $6.7 million in back wages owed to nearly 18,000 employees.
February 22, 2016
The credit is available to workers aged 18 years or older who have contributed to a company-sponsored retirement plan or IRA in the past year and meet the Adjusted Gross Income (AGI) requirements.
February 22, 2016
Examples of frivolous arguments also include contentions that the only “employees” subject to federal income tax are employees of the federal government; and that only foreign-source income is taxable.
February 22, 2016
Thomson Reuters has launched the new Checkpoint Credits & Incentives Pinpointer: International, a solution designed to help multinational corporations (MNCs) identify tax credits and incentives that apply to global jurisdictions to maximize tax-saving ...
February 16, 2016
The IRS is warning taxpayers to avoid schemes to claim tax credits on their returns that they don't truly qualify for. This is especially true of the Earned Income Tax Credit, which some people misreport their income in order to claim, and which is on ...
February 16, 2016
Illegal scams can lead to significant penalties and interest and possible criminal prosecution. IRS Criminal Investigation works closely with the Department of Justice (DOJ) to shut down scams and prosecute the criminals behind them.
February 16, 2016
Avalara, Inc. has launched a new solution for the determination and calculation of tax for businesses in industries such as bulk fuel distribution, residential propane and heating oil distribution, vehicle and equipment rental, wholesale tobacco, and ...
February 12, 2016
The IRS is warning taxpayers to be on the lookout for unscrupulous tax return preparers pushing inflated tax refund claims. This scam remains on the annual list of tax scams known as the “Dirty Dozen” for the 2016 filing season.
February 12, 2016
The vast majority of taxpayers file honest and accurate tax returns on time every year. However, each year some taxpayers fail to resist the temptation of fudging their information. That’s why falsely claiming deductions, expenses or credits on tax ...
February 12, 2016
The fuel tax credit is generally limited to off-highway business use or use in farming. Consequently, the credit is not available to most taxpayers. Still, the IRS routinely finds unscrupulous preparers who have enticed sizable groups of taxpayers to err
February 7, 2016
As with many other tax extenders, the faster 15-year cost recovery period was extended by the Tax Increase Prevention Act (TIPA), but only for 2014. The tax break officially expired on January 1, 2015. Now the PATH Act reinstates this provision ...