Income Tax

As with many other tax extenders, the faster 15-year cost recovery period was extended by the Tax Increase Prevention Act (TIPA), but only for 2014. The tax break officially expired on January 1, 2015. Now the PATH Act reinstates this provision ...

Cloud tools can automate the process of collecting and verifying all of the different items required by the business to report to the IRS. An accounting firm that handles the process for multiple organizations is better prepared and equipped.

The Internal Revenue Service says taxpayers should beware of unscrupulous return preparers, what it says is one of the most common “Dirty Dozen” tax scams seen during tax season.

The initial due date or extended deadline for many entities are changing for the 2016 tax year. In other words, at this time next year, your tax calendar will look dramatically different than it does right now.

It can costs hundreds of thousands of dollars to raise a child these days, but at least the tax law provides several benefits to parents. One such tax break, the child tax credit, allows you to claim a nonrefundable credit of up to $1,000, if you ...

It is important for us to keep in mind that tax responsibilities are not the first thing our busy clients are thinking about, and in many cases they are not on their radar at all.

The IRS also joined with industry and states on a public awareness campaign to provide taxpayers with easy tips to better protect themselves. The “Taxes. Security. Together.” campaign includes YouTube videos, Tax Tips and fact sheets to help ...

Businesses with employees or anyone who has contracted for more than $600 in work to a freelancer or subcontractor: you have until February 1, 2016, to provide the appropriate wage and income reporting form – a W-2 or 1099-MISC – to all recipients.