Income Tax
Newly-Permanent Research Tax Credit Opens Opportunities for Businesses of All Sizes
Although the PATH Act doesn’t include the numerous proposals to change how the RTC is calculated or increase its credit rate, it does expand its availability to two kinds of small businesses.
11 Tips When Selecting An Income Tax Preparer
Asking the right questions can make a big difference when hiring a tax preparer. It helps ensure that you are getting a qualified professional who knows the tax code and will act ethically and responsibly in filing your tax return.
Tax Deduction For Teacher Expenses Made Permanent
The deduction is available for more than just art supplies, videos and the like. The definition of “qualified expenses” also encompasses other supplies, books, computer equipment (including related software and services), other equipment and ...
Bernie Sanders’ Tax Plan Incudes Big Tax Hikes For High Income Americans
The figure that is likely to grab your attention is 52 percent. That is the top tax bracket proposed by Sanders, a plateau that hasn’t been reached since a watershed 70 percent rate was scaled back in the 1980s. The top tax bracket peaked at 91 percent...
Intuit Launches ACA Obamacare Resource Center for Tax Preparers
The Intuit ACA Resource Center, a part of the Intuit Tax Pro Center, includes easy-to-use guides and tools designed to make it easy for tax professionals to stay updated on changes in ACA compliance and requirements for reporting client health ...
Special Report Focuses on Year-End Tax Laws and Other Key Developments
Thomson Reuters has released a special report highlighting key tax developments in 2015 to aid practitioners in 2015 tax return preparation and support 2016 planning.
Countdown to Tax Season: IRS to Start Processing Returns on Jan. 19
The Internal Revenue Service will open the nation’s 2016 individual income tax filing season on Jan. 19, with more than 150 million tax returns expected to be filed this year. People will have several extra days to file their tax returns this year. Taxpayers have until Monday, April 18, to file their 2015 tax returns […]
Filing Taxes Early Can Help Prevent Income Tax Refund Fraud
How do you know if someone has filed a tax return using your Social Security number? And what do you do then? This is happening more and more—the latest General Accounting Office (GAO) report says that IRS paid out over $5.8 billion in fraudulent returns.