October 15, 2015
2015 Review of Avalara AvaTax 1099
Completely web-based, Avalara’s AvaTax 1099 is accessible from anywhere on any device. Scalable, the product integrates with other Avalara products, including the popular AvaTax.
October 14, 2015
Changes Ahead for Minimum Wage and Unpaid Internships
There’s a lot being debated right now in terms of payroll legislation. The proposed and recently passed changes not only affect the wages they earn, but also redefine how they’re classified.
October 14, 2015
Being a Tax Volunteer Can Be Rewarding
The IRS encourages volunteers to step forward by providing free tax assistance in their communities. Specifically, the IRS refers to the Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs.
October 11, 2015
Don’t Miss the Tax Deadline on Required Minimum Distributions
The IRS demands that most retirees in their seventies take annual required minimum distributions (RMDs) from their qualified plans and IRAs. And the nation’s tax collection agency means business: Failing to do so can result in one of the most onerous tax
October 9, 2015
New Laws and IRS Rules Make Year-End W-2 and 1099 Reporting More Challenging
With more businesses utilizing contractors to perform services traditionally relegated to employees, the need for sound 1099 processing and reporting is more important than ever before. There are numerous types of 1099 forms processed and filed ...
October 9, 2015
More Corporations and Partnerships Filing Taxes Electronically
As of Sept. 20, almost 8 million corporations and partnerships e-filed their income tax returns. The IRS estimates that e-file accounts for 77 percent of all corporate and partnership returns filed during 2015. Many corporations and partnerships ...
October 8, 2015
Why Florida Leads Nation in ID Theft Income Tax Refund Fraud: IRS Cracking Down
Florida has been in the news a lot recently, and probably not for reasons that promoters of the Sunshine State would prefer. The spotlight is because hundreds of people have been arrested over the past year for identity theft crimes that involved filing bogus income tax returns for thousands of taxpayers, and then having the…
October 8, 2015
IRA Tax Strategies for Dealing with an Unpredictable Market
The stock market's drop in recent months has no immediate tax effect on the moneys of pre-retirement-age taxpayers whose traditional or Roth IRAs are invested in stocks and mutual funds. That's because neither losses nor gains are recognized within ...
October 7, 2015
IRS Gives Extra Tax Extension to South Carolina Flood Victims
South Carolina flood victims, including individuals and businesses that previously received a tax-filing extension to Oct. 15, will have until Feb. 16, 2016, to file their returns and pay any taxes due, the Internal Revenue Service has announced.
October 5, 2015
IRS Deadline for Those With Tax Extentions is October 15 – Last Minute Tips for Filers
Taxpayers whose tax-filing extension runs out on Oct. 15 are being urged to double check their returns for often-overlooked tax benefits and then file their returns electronically. It's also not too late to seek professional tax guidance from a CPA or EA.
October 5, 2015
IRS Begins Exchanging Tax Information With Other Nations: Focus On Enforcing FATCA
With a focus on enforcing FATCA, the Foreign Account Tax Compliance Act, the Internal Revenue Service is now exchanging financial account information with the taxing authorities in selected countries.
October 5, 2015
AICPA Urges Congress to Act Now on Tax Extenders
More than fifty provisions in the Internal Revenue Code, commonly referred to as “tax extenders,” expired at the end of 2014 or will expire at the end of this year.