#1: Monitor the Financial Success or Failure of Your Business It’s hard to know where you are going if you don’t know where you’ve been. The same is true with your business – it’s hard to know how your business is doing without a clear financial picture. A good financial system provides answers to the … More TOP REASONS TO retain a bookkeeper
Same-sex marriage rulings mean tax changes Updated: Thursday, 27 Jun 2013, 5:12 PM EDT Published : Thursday, 27 Jun 2013, 3:41 PM EDT Laura Hutchinson, 22News Investigative Reporter WEST SPRINGFIELD, Mass. (WWLP) – Big changes are ahead for same-sex couples after the U.S. Supreme Court wiped away part of a federal anti-gay marriage law. Same-sex … More Same-sex marriage rulings: Does this mean tax changes?
WASHINGTON (Reuters) – The top Democrat and Republican tax-writers in the Senate will propose a revamp of the tax code on Thursday that challenges their colleagues to justify retaining some of the country’s most cherished tax breaks. Democrat Max Baucus, chairman of the Senate Finance Committee, and top panel Republican Orrin Hatch, will challenge fellow … More U.S. tax writers to propose a controversial tax code revamp
Credit to: http://news.yahoo.com/irs-official-apologizes-lavish-ca-conference-204824516.html By ALAN FRAM and STEPHEN OHLEMACHER | Associated Press – Thu, Jun 6, 2013 WASHINGTON (AP) — An Internal Revenue Service official whose division staged a lavish $4.1 million training conference and who starred as Mr. Spock in a “Star Trek” parody shown at the 2010 gathering conceded to Congress on Thursday that taxpayer dollars were wasted in the episode. … More IRS official apologizes for lavish CA conference
The number of electronic filing and payment options increases every year, which helps reduce your burden and also improves the timeliness and accuracy of tax returns. When it comes to filing your tax return, however, the law provides that the IRS can assess a penalty if you fail to file, fail to pay or both. … More 8 Facts regarding Failure to File or Pay Penalties
What to do when your clients receive one of the IRS’s four new business income under-reporting letters By Jim Buttonow Source: http://www.accountingtoday.com/news/It-is-Here-Form-1099-K-Business-Income-Matching-64832-1.html?pg=2 The Internal Revenue Service has always been able to match individual tax returns against information statements and propose under-reporter adjustments that come in the form of CP2000 notices. But things are changing, and … More The Form 1099K for Online Small Businesses
By Judy Martel | Bankrate.com – Wed, Feb 27, 2013 3:35 PM EST Thinkstock – During the recent presidential election, tax reform was a hot-button issue. Billionaire investor Warren Buffett and Republican presidential candidate Mitt Romney both ignited fiery debates — Buffett when he claimed the richest 1 percent of the population is not paying its fair … More Ways to Pay No Federal Income Tax?!
IR-2013-17 WASHINGTON — Continuing a year-long enforcement push against refund fraud and identity theft, the Internal Revenue Service today announced the results of a massive national sweep in recent weeks targeting identity theft suspects in 32 states and Puerto Rico, which involved 215 cities and surrounding areas. The coast-to-coast effort against 389 identity theft suspects … More IRS Intensifies National Crackdown on Identity Theft; Part of Wider Effort to Protect Taxpayers, Prevent Refund Fraud
The goal of every taxpayer is to make sure the Internal Revenue Service gets as little as possible. For that to happen, you need to take every tax deduction, credit or other income adjustment you can. Here are 10 tax breaks — some for itemizers only, others that any filer can claim — that … More “Tax Break-ing” moves that are Often-Overlooked
The IRS posted a notice informing everyone that Taxpayers who are claiming Education Credits may do so once they have updated the necessary filing forms, which will not be complete until Mid February. Consequently, if you are trying to claim a Education Credit, we will not be able to transmit the return for you until … More Education Credit Claims must wait until Mid February!