December 5, 2014
The Financial Accountability and Corporate Transparency (FACT) Coalition is calling on Congress to reject the tax extenders package that includes two wasteful offshore loopholes that allow U.S. companies to dodge billions worth of taxes.
December 3, 2014
The latest Blackbaud Index shows that online giving increased 10.6% for the three months ending October 2014 as compared to the same period in 2013. Overall charitable giving to nonprofits increased 0.2% for the period.
November 29, 2014
On the day before Thanksgiving, U.S. Senator Bob Casey (PA, D.) called upon Congress to step up the fight against food insecurity nationally by approving a Senate bill that would increase tax incentives for individuals and small and mid-sized businesses donating food to food banks. Senate Bill 1395, known as the Good Samaritan Hunger Relief...…
November 26, 2014
Feeling generous this Holiday Season? The Internal Revenue Service is reminding individuals and businesses making year-end gifts to charity that several important tax law provisions have taken effect in recent years. Some of the changes taxpayers should k
November 25, 2014
Two years ago, in the wake of the election ballots legalizing recreational use of marijuana, I wrote a small blog post noting that as a new and rapidly-growing industry, there might be an opportunity for a new accounting practice area.
November 25, 2014
Tax refund fraud associated with prisoner Social Security Numbers remains a significant problem for tax administration, according to a report by the Treasury Inspector General for Tax Administration (TIGTA).
November 20, 2014
There’s been much ado about the 55 tax extenders currently being debated by a lame-duck Congress. These tax law provisions, which are generally favorable to taxpayers, technically expired after 2013, but may be revived retroactive to ...
November 19, 2014
Legislative proposals to curtail or eliminate the tax benefits of like-kind exchanges are in the works. With a lame-duck Congress finishing out this year and a brand-new class of lawmakers entering 2015, no one can be sure if this tax break will ...
November 19, 2014
As if Black Friday shopping and the hustle and bustle of the holiday season weren’t taxing enough, it’s also time to think about tax reporting. This time of year, it can be difficult to keep track of our schedules and to-do lists, let alone the ever-chang
November 18, 2014
Congress should pass legislation that would give victims of natural disasters access to permanent and timely tax relief, according to Troy K. Lewis, CPA, CGMA, the current chair of the Tax Executive Committee of the American Institute of CPAs.
November 18, 2014
Financial reporting fraud can prove costly for investors and other capital market stakeholders. A new report from the Anti-Fraud Collaboration takes a fresh look at best practices for fraud deterrence and detection, highlighting the critical importance of
November 18, 2014
New legislation has brought greater certainty to year-end planning but also created new challenges.