Taxes
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Carr, Riggs & Ingram Adds ProSport CPA
Review of SuiteFiles – The Accounting Technology Lab Podcast – August 2024
Avalara Adds Generative Chat to Bolster Support and Product Experiences for Customers and Partners
What Can be Done About the Accounting Talent Shortage?
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GOP Candidate Ben Carson Builds on Flat Tax Platform
Carson would also eliminate deductions for charitable contributions, mortgage interest and state and local income taxes, while repealing the alternative minimum tax (AMT), the earned income credit and the rules for depreciation.
Big Tax Strings Attached to Billion Dollar Lottery Jackpot
Playing the lottery is a form of gambling. As a result, the usual federal tax rules apply to income and losses resulting from gambling activities. Generally, you can only deduct your losses from wagering up to the annual amount of your income from ...
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Filing Taxes Early Can Help Prevent Income Tax Refund Fraud
How do you know if someone has filed a tax return using your Social Security number? And what do you do then? This is happening more and more—the latest General Accounting Office (GAO) report says that IRS paid out over $5.8 billion in fraudulent returns.
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AICPA Says New IRS Policy On Estate Closing Letters Is Innefective
The American Institute of CPAs (AICPA) has submitted comments to the Internal Revenue Service (IRS) about the IRS’s new policy of issuing estate tax closing letters only upon a separate request four months after filing the estate tax return. The IRS announced changes related to the issuance of estate tax closing letters on the […]
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Tax Break for Rollovers From IRAs to Charity Made Permanent
Retirees can once again transfer funds from a retirement account to charity with zero tax consequences. And the new law makes this tax break permanent, so you can now incorporate this strategy into your clients’ long-term plans.
New Law Equalizes Tax-Free Transportation Benefits
The new tax law signed at the end of last year – the Protecting Americans from Tax Hikes (PATH) Act of 2015 – improves the tax-free transportation benefits that may be offered to employees.
2016 Tax Series: Count on Enhanced Tax Credit for Higher Education
[The new “extenders law” enacted late in 2015 retains several key tax provisions and makes them permanent with certain modifications. This is the third part of a series of articles on these tax breaks.] The tax law offers some tax relief to cash-strapped parents who are paying for the cost of higher education. Notably, the biggest […]
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Proposal Would Increase Indiana Cigarette Tax To $1.99 Per Pack
Several state health groups have praised the move, saying it will help to reduce the number of people who smoke. Danielle Patterson, the Indiana government relations director for the American Heart Association, called it a "win-win" situation in that ...