Taxes July 27, 2023
AICPA Makes Recommendations on Improving IRS Appeals
The AICPA believes that it is important that all taxpayers have convenient accessibility to an Appeals conference if they choose to do so.
Taxes July 24, 2023
IRS Ends Unannounced Visits by Agents
Effective immediately, unannounced visits will end except in a few unique circumstances and will be replaced with mailed letters to schedule meetings.
Payroll July 23, 2023
Colorado Businessman Gets 15 Months for $737K Employment Tax Evasion
A Colorado man has been sentenced to 15 months in prison for evading the payment of more than $700,000 in employment taxes he owed to the IRS.
Taxes July 19, 2023
Bipartisan House Efforts on Child Tax Credit Start to Take Shape
The Problem Solvers Caucus, a group of GOP and Democratic lawmakers, plans to work on issues associated with the credit.
Taxes July 19, 2023
Tax Issues When Selling a House After a Divorce
What are the tax consequences regarding a home sale if you and your spouse split up or divorce?
Taxes July 17, 2023
Taxpayers Warned About Frivolous Tax Claims
A frivolous claim is one that is used to support an unreasonable entry on your returns or the failure to file a return. Numerous such claims have been shot down by the IRS, as well as the courts, in recent years.
Taxes July 13, 2023
IRS and Security Partners Announce Special Summer Series
This marks the eighth year that the Security Summit partners have worked to raise awareness about these issues through the "Protect Your Clients; Protect Yourself" campaign.
Taxes July 12, 2023
Tax Advantaged Strategies to Help Clients Plan for Long-Term Care
The Internal Revenue Code includes several tax strategies that may help your clients better prepare for the potential costs of long-term care—here are three to consider.
Taxes July 9, 2023
Hosting an Exchange Student Can Earn a Tax Break
Qualified deductible expenses include the cost of books, tuition, food, clothing, transportation, medical and dental care, entertainment and other amounts actually spent for the student's well being.
July 6, 2023
How to Realize Tax Rewards with Sec. 1244 Stock
Be aware, however, that this special tax treatment isn’t automatic. To qualify for Section 1244 treatment, the following four main requirements must be met.
Taxes July 6, 2023
Taxpayers Can Use a 529 Plan for Themselves
But Section 529 plans don’t have to be used only for your kids. One can be set up to reward virtually any beneficiary—including yourself!
Taxes July 6, 2023
How to Deduct Business Expenses While on Vacation
When planning your travels this summer or any other time of the year—business or personal—just remember that the IRS pays close attention to expenses incurred.