Some of my confusion may come from the fact that I am following my spring busy season sleepless pattern. Does the following make any sense to you? At 3:11 p.m. yesterday I received an “IRS ...
Category Archive: Accounting
Recently, two Circuit Courts shot down the taxpayers in two cases involving rents and S Corporations. In the Estate of Stuller, the Seventh Circuit Court of Appeals addressed a Tennessee Walking Horse breeding operation held ...
Remember Mo Vaughn? Big man and big hitter. American League MVP in 1995 with the Red Sox. Mo had his best year in 1996, when he hit for a .326 average, played in 161 games, ...
Last week, the IRS announced the 2016 optional standard mileage rates for Business, Medical and Moving. The rates are less than 2015. The IRS conducts a study each year of the fixed and variable costs ...
Several years ago – before the estate tax exemption was raised to $5,120,000 for 2012 and increasing each year thereafter (so far) ($5,430,000 per individual in 2015), Congress designated the third week in October as ...
Recently, The Kiplinger Tax Letter published on its website “15 Audit Red Flags.” I set them out below – some verbatim and some paraphrased. The snarky comments are mine. Making a lot of money. If ...
The Internal Revenue Service (IRS) recently updated its Audit Technique Guide (ATG) for Nonqualified Deferred Compensation (NQDC) plans. An NQDC plan is an elective or non-elective plan, agreement, method, or arrangement between an employer and ...
The Texas Comptroller just released a “50-State Scorecard” that compiled from many different sources a list of 26 different measures involving business climate, tax burdens, entrepreneurial activity, unemployment, population characteristics and more. You can find ...
The U.S. government has become increasingly concerned about, and focused on, offshore tax evasion. One tool the government has to combat tax evasion is the Report of Foreign Bank and Financial Accounts (FinCEN Report 114, ...
Today, the Centers for Medicare and Medicaid Services (“CMS”) announced that approximately 800,000 taxpayers who received health care coverage through theHealthcare.gov were sent wrong information on their Forms 1095-A. The “second lowest cost Silver plan” ...
On the afternoon of Friday, February 13, 2015, the Internal Revenue Service (“IRS”) made it easier for small business owners to comply with the final tangible property “repair” regulations (“Regulations”). Revenue Procedure 2015-20 allows small ...
New Tangible Property Regulations May Require More Time and Expense to File 2014 Income Tax Returns of Many Taxpayers The Internal Revenue Service recently issued final tangible property “repair” regulations and disposition regulations (“Regulations”). These ...