Taxes
Latest News
Report Says Undocumented Immigrants in U.S. Pay Nearly $100 Billion in Taxes
Emburse and Finexio Partner for B2B Payments
How Generative AI Will Disrupt Accounting
Mid-Market Optimism Hits Pre-Covid Record Highs
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IRS Interest Rates to Remain Same for Q3 2015
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.
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FBAR and FATCA Filings Due June 30 for Taxpayers with Overseas Assets
FBAR refers to Form 114, Report of Foreign Bank and Financial Accounts, that must be filed with the Financial Crimes Enforcement Network (FinCEN), which is a bureau of the Treasury Department. The form must be filed electronically and is ...
Congress Considers 7.7% Cut to IRS Budget
The fiscal year 2016 Financial Services and General Government Appropriations bill, which provides funding for the Treasury Department, the Judiciary, the Small Business Administration, the Securities and Exchange Commission, and several other agencies.
Nine Tips to Avoid Investment Scams
The world is full of ambitious people with big ideas. Unfortunately, often the big idea is to separate you from your money. Don't get scammed. If you're considering making a significant investment in a start-up or early stage company, follow these ...
How to Handle Short Time-Frame Tax Audits
As if getting audited wasn’t bad enough, now the IRS has added a new twist: the short timeframe audit. With these types of audits, it is possible that an audit case could be closed by the IRS before your client has a chance to show you the letter. This ar
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AICPA Urges Congress Committee to Approve State Tax Simplification Act
The American Institute of CPAs is urging the House Judiciary Subcommittee on Regulatory Reform, Commercial and Antitrust Law to approve H.R. 2315, the Mobile Workforce State Income Tax Simplification Act of 2015.
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Xero Partners with Avalara to Give Small Businesses Automated Sales Tax Rates and Compliance
A new partnership with Avalara now lets users of the cloud-based accounting and business management system Xero can now automate their sales tax collections and reporting. The new integration allows Xero users to quickly access the most current sales tax
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Joseph Falbo, CPA Elected New President of New York CPA Society
Falbo is a partner and member of the executive committee at Tronconi Segarra & Associates LLP in Williamsville, N.Y. He has been a member of the Society since 1994 and is a member of its Buffalo Chapter.