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.
March 26, 2014
Treasury Offers Quick Fix on Another Obamacare Glitch
The government seems to have worked out most of the kinks in www.healthcare.gov, the online site used to sign up for Obamacare. But it has yet to address another glitch that surfaced almost two years ago: Language in the law that prevents married taxpayers who file separate tax returns from qualifying for special tax subsidies.
March 26, 2014
Supreme Court: Severance Payments are Taxable Wages for FICA Purposes
The Court ruled that severance packages and payments that are given to involuntarily laid-off workers are taxable not only as individual income, but also with regard to FICA employment taxes. It was a unanimous 8-0 ruling, with Justice Elena Kagan recusing herself from the case. Oral arguments were heard by the court last October.
March 25, 2014
IRS Says Bitcoin is Considered Property, Not Currency
The question has lingered for about two years, but the IRS has finally decided how to treat Bitcoins and other virtual currencies when it comes to taxes.
March 25, 2014
How Accounting Firms Can Become Their Clients’ Most Trusted Advisors
If you could plant a seed this busy season that would help you grow your business the rest of the year, would you do it?
March 25, 2014
L.A. Accounting Firm Helps Indian Film Fest
As a part of it's annual charitable giving campaign, an L.A.-area accounting firm is helping fund an annual film festival that helps bridge the gap between the two largest entertainment capitals in the world: Hollywood and Bollywood.
March 25, 2014
IRS Gives Colorado Flood Victims Extension for Claiming Damages
Taxpayers in Colorado who suffered property damage during last year's flooding are being given additional time to decide on when they will claim those losses against their taxes.
March 25, 2014
AICPA Supports Congressional Focus on Lowering National Debt
In open hearings of the House Financial Services Committee, representatives are putting a renewed focus on the dangers of America's increasing debt.
March 24, 2014
Possible Data Breach at California DMV Could Expose Millions
The California Department of Motor Vehicles is reporting a possible data security breach in its credit card processing services but said it had not yet found evidence that its computer system had been hacked.
March 24, 2014
Should Accounting Firms Sell Health Insurance?
When it first became clear that tax preparers – including CPAs – would have to be the front line in implementation of the Affordable Care Act, I voiced a lot of concerns. I doubted it would be possible for accounting professionals to serve as both trusted advisors and health insurance sales people.
March 24, 2014
California Unemployment Drops on Job Gains
With the job market continuing to strengthen, unemployment fell to its lowest level in 51/2years in California last month. But for many government workers, who make up an oversized portion of Sacramento's economy, it still feels a lot like the economic recovery has barely begun.
March 24, 2014
Minnesota Legislature Approves New Tax Deal
Both houses of the Legislature passed a bill Friday to cut income and sales taxes by $443 million over the next 15 months. Gov. Mark Dayton signed it as soon as it reached his desk Friday evening.
March 23, 2014
Accounting Firm Celebrates 40th Anniversary
The accounting profession has seen revolutionary change since 1974. Yet, even as the professionals at WithumSmith+Brown, PC (WS+B), Certified Public Accountants and Consultants, are knee-deep in 1120s and 1040s for this year's tax season, they will carve out a little time to help celebrate the firm’s 40th anniversary on March 21.