Taxes

January 12, 2016 

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.

January 11, 2016 

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.

January 7, 2016 

[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...…

January 6, 2016 

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 ...

January 6, 2016 

Bloomberg BNA's popular BNA Income Tax Planner (version 2015.3) software has been updated to support the recently approved Protecting Americans from Tax Hikes (PATH) Act of 2015. This Act extends or makes permanent the individual tax breaks that have ...

January 6, 2016 

The expanded security features offer additional ways to authenticate tax preparers’ identities upon account sign in and verification of their E-File Identification Number (EFIN) before electronic filing.

January 6, 2016 

E-signatures provide an opportunity to make the upcoming season better for both the taxpayer and the preparer.

January 6, 2016 

In the new tax law signed at the end of the last year – the Protecting Americans from Tax Hikes (PATH) Act – the credit is extended retroactive to January 1, 2015 and made permanent, with several notable enhancements.

January 5, 2016 

Recent data show the number of actual donors (as a percentage) giving to nonprofit organizations is on the decline, even with actual dollar amounts continuing to rise. Nonprofits will need to explore new giving models and look at ways to capitalize on ...

January 3, 2016 

Though taxpayers should always keep a copy of their tax return for their records, some may need the information from filed tax returns for many reasons. This includes college financial aid applicants or taxpayers who have applied for a loan to buy a ...

January 3, 2016 

For many small business owners, those long and annoying depreciation schedules will soon become a distant memory. Under the Protecting Americans from Tax Hikes Act (PATH) of 2015, the maximum Section 179 deduction of $500,000 is restored retroactively...

January 2, 2016 

This IRS Form 1040-EZ is for reporting income received from Jan. 1 to Dec. 31, 2015, which the recipient will file a tax return for in 2016. The form says 2015 because it is for reporting income earned in 2015.