IRS

Most U.S. taxpayers must secure health insurance coverage this year whether they want to or not. But the IRS and Treasury Department have clarified several exceptions to the rules in new proposed regulations relating to the health insurance mandate for individuals.

Tax season has always been a tempting time for many unsavory people to try to scam others. The addition of online self-preparation and identity theft has only made the problem worse.

You probably know that non-exempt employees are covered under FLSA, which imposes requirements for overtime and other aspects of employment. Exempt employees, on the other hand, are not subject to FLSA.

Unless you’ve been living under a rock the last few years, you’re well-aware that the massive health care legislation known informally as “Obamacare” by both its detractors and proponents remains the law of the land.

Responding to a Freedom of Information Act request, the IRS has released a series of documents, including training materials used by agents relating to how it recognizes and treats exempt organizations like nonprofits.

The IRS recently said that the 2014 tax filing season for individual returns won’t kick off until January 31, a delay of ten days due to the government shutdown last October. But taxpayers using the IRS’ Free File program can still get a head start.

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.”