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.
December 3, 2014
Don’t Let Politics Affect Year-End Tax Planning
With the November elections behind us, the Republican Party is in line to take control of the Senate, giving them the majority vote in both chambers of Congress for the first time since 2006.
December 3, 2014
7 Important Income Tax Tips
The end of the year is a time to reflect upon the past and plan for the future, including planning for income and estate taxes. Below, we present some important income and estate tax items to consider before the end of the year.
December 1, 2014
Alibaba Threatens U.S. Retailers Because of Online Sales Tax Loophole, Group Says
The Alliance for Main Street Fairness (AMSF) has launched a television advertising campaign to urge lawmakers on the imminent threat posed by China's online mega-retailer—Alibaba—as it enters the U.S. retail market. Retailers are imploring the ...
December 1, 2014
This Holiday Season, Make Time for Taxes
There is no better time than the holiday season to review any year-end tax planning decisions that could lead to savings come April 2015. Taxpayers have had time to adjust to the tax rate changes from 2013, so when it comes to prudent tax planning ...
November 29, 2014
U.S. Senator Suggests Income Tax Incentive for Food Bank Donations
On the day before Thanksgiving, U.S. Senator Bob Casey (PA, D.) called upon Congress to step up the fight against food insecurity nationally by approving a Senate bill that would increase tax incentives for individuals and small and mid-sized businesses donating food to food banks. Senate Bill 1395, known as the Good Samaritan Hunger Relief...…
November 26, 2014
5 Year-End Tax Tips for Charitable Giving During the Holidays
Feeling generous this Holiday Season? The Internal Revenue Service is reminding individuals and businesses making year-end gifts to charity that several important tax law provisions have taken effect in recent years. Some of the changes taxpayers should k
November 25, 2014
Marijuana and Accounting Revisited
Two years ago, in the wake of the election ballots legalizing recreational use of marijuana, I wrote a small blog post noting that as a new and rapidly-growing industry, there might be an opportunity for a new accounting practice area.
November 25, 2014
Prisoners in U.S. Find Hobby in Income Tax Fraud
Tax refund fraud associated with prisoner Social Security Numbers remains a significant problem for tax administration, according to a report by the Treasury Inspector General for Tax Administration (TIGTA).
November 20, 2014
Which 2014 Tax Extenders will Congress Renew or Make Permanent?
There’s been much ado about the 55 tax extenders currently being debated by a lame-duck Congress. These tax law provisions, which are generally favorable to taxpayers, technically expired after 2013, but may be revived retroactive to ...
November 19, 2014
Will Like-Kind Exchanges Survive Tax Reform?
Legislative proposals to curtail or eliminate the tax benefits of like-kind exchanges are in the works. With a lame-duck Congress finishing out this year and a brand-new class of lawmakers entering 2015, no one can be sure if this tax break will ...
November 19, 2014
The Top 10 Myths of the 2014 W2 and 1099 Reporting Season
As if Black Friday shopping and the hustle and bustle of the holiday season weren’t taxing enough, it’s also time to think about tax reporting. This time of year, it can be difficult to keep track of our schedules and to-do lists, let alone the ever-chang
November 18, 2014
AICPA Urges Senate to Approve Automatic Tax Relief for Disaster Victims
Congress should pass legislation that would give victims of natural disasters access to permanent and timely tax relief, according to Troy K. Lewis, CPA, CGMA, the current chair of the Tax Executive Committee of the American Institute of CPAs.