March 23, 2014
Ex-Con Tax Preparers Put Clients at Risk
Fresh out of prison, two felons went to work for uncredentialed tax offices, using fraudulent deductions to create bigger tax refunds for clients.
March 22, 2014
IRS Approves E-Signatures on Form 8879
Effective March 11, 2014, the IRS approved e-signatures on Form 8879 through an online revision to Publication 1345.
March 20, 2014
10 Income Tax Breaks for the Rich and Famous
Many federal income tax breaks are reserved for low-income families – the earned income tax credit (EITC) instantly comes to mind – but that doesn’t mean that wealthier individuals can’t get their fair share of the pie.
March 20, 2014
N.Y. Town Clerk Accused of Embezzling $117K
New York state police, based on information developed by a state comptroller's audit, have arrested a former clerk/treasurer of the now-dissolved village of Altmar, Oswego County, and charged her with embezzling $117,615 in village funds.
March 19, 2014
Autonomy CEO Says HP is Misleading Investors
In a sharply worded letter released Wednesday, Mike Lynch, former chief executive of Autonomy, has accused Hewlett-Packard of misleading shareholders about the accounting problems it claimed to have uncovered at the British company it acquired in 2011.
March 18, 2014
Don’t Miss These Six State Income Tax Items
State income taxes are often overlooked by the general public, but professional tax return preparers should not make the same mistake. Nevertheless, it is easy to miss tax benefits or liabilities associated with state income taxes, especially as they relate to federal Form 1040.
March 18, 2014
The Biggest Tax Mistakes for Small Businesses
There are strategies that these business owners can take to help alleviate many of these tax time woes, and a big one is by staying in more frequent contact with their accountant. That's according to a new nationwide survey of accounting professionals.
March 17, 2014
‘Jeans Day’ Helps Accounting Firm Give Back to Community
After the Japan earthquake three years ago, the Santa Monica, Calif., accounting firm Gumbiner Savett decided to help raise funds to support the victims of that disaster, as well as some of the firm’s affiliates and former staff in the country.
March 17, 2014
New House Bill Links “Doc Fix” to Obamacare Delay
New legislation passed by the House tying the “doc fix” to Obamacare is expected to meet its demise on the Senate floor. Thus, a once-promising solution to a long-term problem is likely to turn into another victim of bipartisan politics.
March 17, 2014
How to Tell Clients Their Last Tax Pro Made Mistakes
This topic has been coming up a lot in the past week or so. And it’s a bit disconcerting to tax professionals who invest time with new clients like this.
March 13, 2014
New eSign System Simplifies, Speeds Up Form 8879
With the announcement by the IRS that it will now allow electronic signatures on Form 8879, which authorizes electronic filing of tax returns, a cumbersome, time-consuming step in the tax preparation process has been eliminated.
March 11, 2014
Want to Make the IRS Better? Volunteer for the Taxpayer Advocacy Panel
The Internal Revenue Service seeks civic-minded volunteers to serve on the Taxpayer Advocacy Panel (TAP), a federal advisory committee that listens to taxpayers, identifies major taxpayer concerns, and makes recommendations for improving IRS services.