Taxes

 Bay Area Workers Pushing for $15 Minimum Wage

May 26, 2014 

Bay Area Workers Pushing for $15 Minimum Wage

At $10.74 an hour, San Francisco already has the nation's highest big city minimum wage. But it could soon have company, as labor and community activists in cities from Richmond to Sunnyvale push wage increases that could turn the Bay Area into a high-wage hub.

 Alabama Governor Pushes Small Business Assistance

May 26, 2014 

Alabama Governor Pushes Small Business Assistance

A group of small business owners and politicians gathered at the Cullman, Alabama, Area Chamber of Commerce Friday to hear Governor Robert Bentley's pledge to bring more assistance to locally owned shops.

 150,000 Taxpayers Used New IRS Online Payment System

May 22, 2014 

150,000 Taxpayers Used New IRS Online Payment System

The Internal Revenue Service says that more than 150,000 taxpayers used its new web-based system IRS Direct Pay to pay their tax bills or make estimated tax payments directly from checking or savings accounts without any fees or pre-registration.

oscpa-logo-blue-rev2-12-web-108303371

May 21, 2014 

Ohio Society of CPAs Supports Federal Financial Statement Transparancy Act

The Ohio Society of CPAs (OSCPA) is commending Representative Jim Renacci (R-Ohio), a CPA, for his introduction of the Federal Financial Statement Transparency Act of 2014 in the U.S. House of Representatives, a bill with bipartisan support that will make for a more accountable and transparent federal government.

 New Legislation Targets Companies that Claim Foreign Status for Tax Purposes

May 21, 2014 

New Legislation Targets Companies that Claim Foreign Status for Tax Purposes

There has been a surge of American companies that have changed the address of their headquarters to a foreign country, a maneuver referred to as an “inversion” that allows them to avoid U.S. taxes. The FACT (Financial Accountability and Corporate Transparency) Coalition hails the introduction of legislation to close the “inversion” loophole,.

 IRS Names New Members of Tax Exempt Advisory Committee

May 21, 2014 

IRS Names New Members of Tax Exempt Advisory Committee

The Internal Revenue Service has announced that its Advisory Committee on Tax Exempt and Government Entities (ACT) will hold a public meeting on June 11, when the panel will submit its annual reports and recommendations to senior IRS executives. Ten newly appointed members of the panel (listed below) will also be introduced at the public…

 Report: Businesses Losing 5% of Revenue to Fraud

May 21, 2014 

Report: Businesses Losing 5% of Revenue to Fraud

Organizations around the world lose an estimated five percent of their annual revenues to occupational fraud, according to a survey of Certified Fraud Examiners (CFEs) who investigated cases between January 2012 and December 2013. Applied to the estimated 2013 Gross World Product, this figure translates to a potential total fraud loss of more than $3.5…

Isaac M. O'Bannon