January 30, 2013
IRS: If claiming education tax credit, wait until mid-February
Filing starts today, Jan. 30, 2013, but many taxpayers will have to wait a few weeks longer.
January 30, 2013
Chicago accountants, brothers, get prison for $5M sales tax scam
Two Chicago-area accountants were sentenced Friday to two years of probation each after pleading guilty to helping eight gas station owners underreport their sales to avoid paying more than $5 million in sales taxes.
January 29, 2013
Bar owner charged with tax evasion & fraudulent wage reporting
The charges claim that between January 1, 2006 and April 15, 2007, he spent more than $533,000 on "personal expenses" on a credit card, but only had reported income of $188,000.
January 28, 2013
Ohio CPAs to prepare tax returns free of charge for deployed troops
Operation CPA eases the burden on military families during tax season
January 28, 2013
4 Specialty Tax Tools That Help Fill Niche Needs
The good news is that Congress finally passed tax and budget legislation on the first day of the year. While the deal seems to have left people on both sides of the political aisle less than satisfied, at least tax professionals and taxpayers now know what they rules will be for TY 2013. That may...…
January 28, 2013
New Year, New Law, New Long-Term Plan
Illinois CPA Explains How the Fiscal Cliff Deal Can Help with Long-Term Planning
January 27, 2013
Investors looking at Colorado’s new growth industry: Marijuana
Two hedge-fund partners -- monogrammed shirts, taut Windsor knots, cuff links -- step into a hipster cafe in Denver called Sputnik on an unorthodox mission.
January 27, 2013
Tax credit for historic preservation to be reviewed
U.S. Interior Secretary Ken Salazar said in Detroit Friday that he has ordered a review of rules governing the use of historic preservation tax credits with a view to making the credits easier to use in cities like Detroit.
January 27, 2013
Pennsylvania tax collector arrested in $50K theft
A Pennsylvania tax collector was arrested on Friday for allegedly stealing more than $50,000 owed to the borough of Fayette City and Belle Vernon Area School District.
January 25, 2013
Kansas Gov. tax plan eliminates homeowner property tax deduction
The governor wants to wipe away the income deduction claimed by Kansans for property taxes they pay on their homes. Nixing that deduction would raise revenue, at least partially offsetting the lower state income tax rates Brownback wants to adopt.
January 25, 2013
Tax fraud cases show need for preparer regulation
There are hundreds, if not thousands, of cases each year of uncredentialed "kitchen counter" tax preparers misleading consumers and filing illegal returns. Just this week, we have three more examples:
Income Tax January 25, 2013
IRS Appeals Court Ruling: Professionals and Consumers Want Testing of Tax Preparers
From Jan. 2013 - This was the last thing this tax season needed: Uncertainty for tax professionals, other tax preparers and tax-paying Americans. AICPA, NSA, NAEA and other organizations want IRS testing program.