The 2014 income tax filing season is almost in the books. The corporate extension deadline has passed and the individual extension deadline is nearly here. Of course, this means it’s…
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A 16-day shutdown of the government in October has resulted in the IRS delaying the tax filing season to January 31. This will create some of the same headaches taxpayers…
Announcing new IRS mileage rates for 2012. 55.5 cents per mile continues to be the business mileage rate. The medical and moving IRS mileage rates drop .5 cents to…
Whoops! Don’t believe everything you read. That is the lesson coming from the extension of the payroll tax cut. Congress has settled on a two month payroll tax cut extension…
Every year the Taxpayer Advocate’s office releases the most pressing concerns involving the IRS from a taxpayer perspective. This year, with IRS efficiency at an all time low, the TAS (Taxpayer…
1099 requirements are changing this year, and you might be scratching your head at a new 1099-K form you are receiving. On the bright side, you don’t have to send…
The IRS is facing budget cuts and is looking for new ways to shift the reporting burden to the taxpayer. Currently, the IRS matches gross proceeds information received from brokerage…
Out of $447 billion in stimulus proposals, Congress has come together and passed two small impact items with cost offsets that will result in approximately $2 billion in savings. The…
Do you have individuals working for you as independent contractors? Do you know the requirements that determine how an independent contractor is classified? For many businesses, it is time to…
The IRS, after being bombarded with public comments, has decided to reverse their decision to eliminate the High Low Method of calculating per diem deductions. We had written about this…
