Income Tax

It isn’t quite as significant as the president’s State of the Union address, but National Taxpayer Advocate (NTA) Nina Olson released a new report to Congress on January 9 (IR-20140-3).

The American Institute of CPAs (AICPA) said in a letter today to Senate Finance Committee Chairman Baucus and Ranking Member Hatch that it “strongly supports the efforts by the Senate Committee on Finance on tax administration reform and simplification.”

BELFAST, Maine -- Following a 10-month police investigation, a 56-year-old Belfast woman has been charged in connection with the theft of $83,000 from her family's furniture store, where she worked at as a bookkeeper.

Active duty and some reserve members of the U. S. Armed Forces deserve our nation's greatest respect and honor, and one of the minor things our country offers in return for their service are a few benefits when it comes to income taxes.

The IRS has released individual income tax rates for tax year 2014. This is for the tax year ending Dec. 31, 2014, which will be filed before April 15, 2015.

Abagnale was the subject of the movie "Catch Me if You Can," which portrayed his experiences from ages 16-21 as an impostor and check forger.

Thousands of small-business owners in Texas have faced a year-end dilemma since 2006: try to stay under $1 million in gross receipts or see their state franchise tax bill go overnight from zero to thousands of dollars.

When the ball dropped in Times Square at midnight on New Year’s Eve, it did more than signal the start of another year. It also officially closed the books on several significant tax breaks for individuals and small business owners. Unless these provisions are resurrected by a bipartisan Congress – no sure bet – they won’t be available in 2014.