March 18, 2014
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
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
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 17, 2014
U.S. District Judge Freda L. Wolfson imposed the prison term on Gottesman and also ordered that he be placed on supervised release for three years when he gets out of prison and that he pay $27,385 owed to the IRS. That amount represents taxes Gottesman owes from 2006 to the present, according to Fishman.
March 17, 2014
Businesses that fail to pass along sales taxes collected from customers to the state could be next in line for the Indiana Department of Revenue's ramped-up enforcement efforts.
March 14, 2014
Increased cost of compliance, ongoing regulatory change and growing importance on reporting place added demands on compliance teams.
March 11, 2014
Executives worried about data security are driving a spike in demand for skilled number crunchers who are well-versed in technology, according to a Chattanooga, Tenn.-based firm.
March 11, 2014
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.
March 10, 2014
The Obama administration is relying on various federal agencies and organizations to help implement the complex rules under the Patient Protection and Affordable Care Act (PPACA), the comprehensive health care legislation otherwise known as “Obamacare.” Naturally, the IRS is expected to play a major role, including enforcement of the penalties for failing to obtain minimum…
March 10, 2014
After a divorce, if both spouses stay on title, they can both take advantage of their full personal residence exclusion of $250,000 – as long as one of them continue to use it as a personal residence AND this is specified in the divorce decree (a good reason to get along during the divorce negotiations).
March 4, 2014
The accounting association, CPAmerica International, released the results of its second Information Technology (IT) Benchmarking Survey to all its participants. The online survey collected data from association members in order to provide benchmarking data on software, certifications, training and disaster recovery.
February 27, 2014
Someone just asked TaxMama if there is a way to get her father’s earnings information from back in 1977-78. She needs it because his income in those years is not on his Social Security record.