Income Tax
AICPA Says Proposed IRS Tax Preparer Program is Unlawful, Improper
The Internal Revenue Service’s proposed voluntary certification program for tax return preparers “would cause significant legal problems that may ultimately frustrate the IRS’s goals, confuse the public, and lead to litigation,” according to the American Institute of CPAs (AICPA).
Congress and Senate Consider Section 179 Extension – Keep Your Fingers Crossed
Are those generous Section 179 deductions for business clients a thing of the past? Under current law, the maximum deduction is just a fraction of the high-water mark that was allowed prior to its expiration after 2013.
8 Questions Small Businesses Should Ask Their Accountant
For businesses on the search for a new accountant, selecting the right one shouldn’t be taken lightly. For a small business, an accountant can play a critical role in the company’s successes and can lessen an owner’s headaches and stresses.
IRS Trashes Circular 230 Disclaimers
The IRS Office of Professional Responsibility will be sending out letters asking practitioners to stop using disclaimers required under Circular 230 (Regulations Governing Practice Before the Internal Revenue Service).
Massachusetts Nurses Group Targets CEO Pay
While hospital executives from across Massachusetts meet in Chatham this week, a nurses union is running a radio ad that criticizes Massachusetts hospital chiefs' compensation packages and calls for greater transparency of hospital finances.
Taxpayers Offered New Options in Offshore Voluntary Disclosure Program
The Internal Revenue Service has made significant changes to its offshore voluntary compliance programs, with the intent of providing new options to help both taxpayers residing overseas and those residing in the United States. The agency says the changes are anticipated to provide thousands of people a new avenue to come into compliance with their U.S. tax obligations.
Portland, Ore. Workers Push for $15 Minimum Wage
Justin Norton-Kertson admits he was "kind of surprised" that members of the Portland City Council said anything Wednesday in response to his public testimony about a $15 minimum wage for Portlanders.
Tax Analysts Sues California to Release Documents
A tax news source has sued California's Franchise Tax Board for refusing to disclose the documents it uses to decide whether to combine the incomes of two related companies and how to calculate their taxes.