Income Tax
Latest News
Report Says Undocumented Immigrants in U.S. Pay Nearly $100 Billion in Taxes
Emburse and Finexio Partner for B2B Payments
How Generative AI Will Disrupt Accounting
Mid-Market Optimism Hits Pre-Covid Record Highs
Is Summer Camp Tax Deductible?
I know, I know…the subjects of fun summer camp and “funless” income tax preparation don’t exactly go together as well as toasted ‘mallow and graham. But for as painful as taxes might be, there is some value here for anyone that sent a child to camp last summer, or is planning to in the coming months. […]
What’s Next For Proposed Changes to Overtime Pay and Exempt Employees?
Recently, the Department of Labor (DOL) has released proposed rules to update the exemptions from overtime.
Senate Committee Approves Tax Extenders Through 2016
Among the many provisions addressed in the bill, business taxpayers would benefit from an extension and expansion of the Research and Experimentation (R&E) Credit, the Work Opportunity Tax Credit (WOTC), and the §179D deduction.
Focus on Tax Breaks for Disabled as IRS Marks 25th Anniversary of ADA
The Internal Revenue Service is marking the 25th anniversary of the ADA by spotlighting a number of tax benefits and services that can help taxpayers with disabilities.
4 Facts About the IRS and E-Signatures – Infographic
Taxpayers and preparers are demanding online convenience more than ever. Due to this demand and in an effort to make electronic filling easier, new guidance from the IRS has been issued that will expand the use of electronic signatures on two ...
IRS Program Offers Penalty Relief for Businesses with Unfiled Retirement Plans
The program is designed to help small businesses that may have been unaware of the reporting requirements that apply to their retirement plans.
IRS Changing Identity Theft Policy to Combat Tax ID Threats
If you have ever had a client facing identity theft, you know that the first thing they want to find out is what specific information was compromised. But, until recently, the IRS has had a policy in place that prevented identity theft victims from ...
AICPA to Congress: Compliance with Federal Tax Laws Can Hamper Small Business Growth
Lewis also recommended specific changes to the tangible property regulations that address how businesses should report the acquisition and improvement of tangible property to reduce complexity. The $500 de minimis safe harbor threshold for taxpayers ...