December 29, 2014
IRS Says Income Tax Season to Start January 20
Following the passage of the extenders legislation, the Internal Revenue Service announced today it anticipates opening the 2015 filing season as scheduled in January.
December 26, 2014
Tuition Tax Deductions: There’s Still Time for One More 2014 Tax Break
For parents who have children in college, or for the students themselves, there may be at least one more check you should send out before the end of the year: the tuition payment for the upcoming semester. By paying this bill before 2015, you may ...
December 26, 2014
Last Chance for Tax Exempt IRA-to-Charity Transfers
The time for clients to take required minimum distributions from their IRAs is rapidly dwindling. They have until December 31, 2014 to arrange for an RMD for the 2014 tax year. Otherwise, they could be slapped with a stiff tax penalty.
December 18, 2014
3 Ways to Improve Expense Management and Improve Cost Savings
If a business has been around more than a few years, chances are it has already been put through the cost-cutting wringer. Although many businesses have seemingly exhausted all their options to cut costs, companies continue to look for additional ...
December 18, 2014
Report Offers Complete Analysis of the Tax Increase Prevention Act of 2014
Thomson Reuters Checkpoint has released RIA’s Complete Analysis of the Tax and ERISA Provisions of the Tax Increase Prevention Act of 2014, the Achieving a Better Life Experience Act of 2014, the 2015 Continuing Appropriations Act, and Other Acts of the 1
December 18, 2014
Ring In Tax Tidings for Stock Sales on New Year’s Eve
Suppose you need to sell stock to realize a capital gain or loss at the end of the year. As the time for the stock exchange to close business on December 31 nears, you pull the trigger on the transaction, just getting it in under the wire. Will the result
December 17, 2014
Congress Creates New Tax-Favored Savings Accounts for Disabled
As part of its last moves before the holidays, the lame duck Congress and Senate passed the Tax Increase Prevention Act of 2014, which primarily focused on many tax deductions and credits that had technically expired at the end of last year.
December 17, 2014
Congress Renews Most Expired Tax Breaks
At long last, Congress granted a reprieve for most of the expired tax provisions that had remained in limbo this year, but the late-breaking tax relief is only temporary.
December 15, 2014
National Accounting Society Warns Taxpayers of Scams
The National Society of Accountants (NSA) is warning that many taxpayers have been victims of an aggressive and sophisticated phone scam where callers claim to be employees of the Internal Revenue Service (IRS), but are not.
December 14, 2014
Greatland Takes W-2 and 1099 Reporting Programs to the Cloud
Professional tax and accounting software and resource provider Greatland has announced the launch of the web-based features of its new Yearli product, a comprehensive W-2 and 1099 reporting software and online filing platform for businesses...
December 12, 2014
IRS Issues New Procedure for Offers in Compromise Appeals
The Internal Revenue Service is releasing a revenue procedure today providing rules for the nationwide rollout of post-Appeals mediation for Offer in Compromise (OIC) and Trust Fund Recovery Penalty (TFRP) cases. The IRS Office of Appeals originally ...
December 12, 2014
Are Your Business Clients Really Ready for Obamacare?
In March of 2010, when the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Acts were passed, the Individual Mandate seemed like a far off event that we didn’t need to worry about just yet.