Income Tax
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.
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.
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.
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.
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.
2014 IRS Tax Calendar for Businesses & Self-Employed
View business due dates with the IRS's online tax calendar.
The Biggest Tax Mistakes for Small Businesses
There are strategies that these business owners can take to help alleviate many of these tax time woes, and a big one is by staying in more frequent contact with their accountant. That's according to a new nationwide survey of accounting professionals.
Ex-Con Tax Preparers Put Clients at Risk
Fresh out of prison, two felons went to work for uncredentialed tax offices, using fraudulent deductions to create bigger tax refunds for clients.