May 21, 2014
Tax experts from the Philadelphia LGBT practice of Marcum LLP advise that Tuesday's court ruling overturning the ban on same-sex marriage in Pennsylvania opens up important planning opportunities for these families. Marcum is the first national accounting firm with a practice dedicated to tax and estate planning for same-sex couples.
May 21, 2014
There has been a surge of American companies that have changed the address of their headquarters to a foreign country, a maneuver referred to as an “inversion” that allows them to avoid U.S. taxes. The FACT (Financial Accountability and Corporate Transparency) Coalition hails the introduction of legislation to close the “inversion” loophole,.
May 21, 2014
The Internal Revenue Service has announced that its Advisory Committee on Tax Exempt and Government Entities (ACT) will hold a public meeting on June 11, when the panel will submit its annual reports and recommendations to senior IRS executives. Ten newly appointed members of the panel (listed below) will also be introduced at the public…
May 21, 2014
E. Michael Thomas, CFE, CPA, CIA, a partner with Crowe Horwath, LLP, discusses fraud prevention for financial institutions.
May 21, 2014
Organizations around the world lose an estimated five percent of their annual revenues to occupational fraud, according to a survey of Certified Fraud Examiners (CFEs) who investigated cases between January 2012 and December 2013. Applied to the estimated 2013 Gross World Product, this figure translates to a potential total fraud loss of more than $3.5…
May 21, 2014
The nation's largest professional association for accounting professionals, the American Institute of CPAs (AICPA), has come out opposed to the new voluntary tax return preparer regulation program that the Internal Revenue Service (IRS) is planning.
May 20, 2014
The nation's largest association of accounting professionals, the American Institute of Certified Public Accountants (AICPA), is commending Congress for recent efforts to strengthen the pending Federal Financial Statement Transparency Act.
May 19, 2014
Summer is the time for grilling burgers and hot dogs, escaping to the beach or woods or just relaxing and enjoying the warm weather. Of course, there’s nothing to prevent you from mixing in a little business with the pleasure. If your clients handle things the right way, and keep detailed records, they can write…
May 18, 2014
For many years, states and local governments have been trying to rein in unlicensed income tax preparers, and the Internal Revenue Service joined a few years ago with the idea of a national testing and regulatory system that the agency would oversee. So, it created one.
May 18, 2014
For many farmers, harvest time comes at the end of the summer. The same thing is true for your clients who are active traders in the stock market. But you must caution them that the tax landscape has changed in recent years.
May 13, 2014
The Earned Income Tax Credit (EITC) is one of the most widely-used credits by U.S. taxpayers, it's also often mis-used and even thought the Internal Revenue Service has been scolded for its poor management of the EITC, the agency is still lacking.
May 13, 2014
Are your clients making plans to send their kids off to camp this summer? Depending on the arrangements, they may be entitled to claim a healthy tax credit – the dependent care credit (also known as the “child care credit” ) – for the daily expenses. However, there are no tax benefits available for overnight…