Taxes February 6, 2026
IRS Issues Proposed Rules on Clean Fuel Tax Credit
The Treasury Department and the IRS released proposed regulations Feb. 3 on the clean fuel production credit under the One Big Beautiful Bill Act.
February 12, 2016
It Doesn’t Take a Genius to Understand the Need for Tax Professionals
You may have seen recent ads by a major tax preparation provider claiming that, “it doesn’t take a genius to do your taxes”. Unfortunately, they’re right. I’m not a genius. You’re probably not a genius. Neither is the mechanic that recently fixed the ...
February 10, 2016
IRS E-File System Breached; 101,000 Social Security Numbers May Be Compromised
The IRS says that it recently identified and halted an automated attack upon its Electronic Filing PIN application on its website. IRS.gov. Using personal data stolen elsewhere outside the IRS, identity thieves used malware in an attempt to generate ...
February 10, 2016
Obama’s Final Budget Proposal Includes Sweeping Tax Changes
It’s unlikely that a sharply divided Congress will send President Obama off with parting gifts, but that didn’t stop the nation’s leader from including a “wish list” in the proposed budget for his final year in office. The proposals released on ...
February 7, 2016
50% Bonus Depreciation and $500K Building Deduction Made Permanent
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 ...
February 6, 2016
How to Simplify the 1099 Process: Cloud Tools that Work
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.
February 5, 2016
IRS Says Beware of Shady Tax Preparers
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.
February 5, 2016
New Tax Filing Deadlines For Business Entities and Nonprofits Starting Next Year
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.
February 4, 2016
10 Tips for Hiring a Safe and Legal Tax Preparer
If your tax preparer is unethical and incorrectly prepares it for you, you could be liable for back taxes, penalties and even criminal punishment. That's why taxpayers need to do a little checking before having someone else do their taxes.
February 4, 2016
New Tax Law Offers More Benefits to Parents
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 ...
February 4, 2016
Phishing Scams Target Taxpayers
Criminals pose as a person or organization you trust and/or recognize. They may hack an email account and send mass emails under another person’s name. They may pose as a bank, credit card company, tax software provider or government agency.
February 4, 2016
IRS Computers Go Down, E-File and Other Systems Affected
Several computer systems at the IRS went down on Wednesday, affecting E-filing, several professional tools and other systems.The systems were still down as of 6:30 pm. Eastern Time.
February 4, 2016
Georgia CPAs Gather at Capitol To Advocate Tax Policy
More than 100 members of The Georgia Society of Certified Public Accountants (GSCPA) recently met at the state capitol to share their thoughts on important issues facing the accounting profession with their elected officials.