IRS
The 5 Biggest Tax Mistakes Small Business Owners Make
Whether a business is incorporated and files returns as an entity, or is an LLC and the owner files a Schedule C with their personal 1040 income tax return, there are many potential areas for errors, from misreporting income or expenses, to missing ...
Report Says IRS Needs To Take Steps To Prevent Fraudulent Refunds
TIGTA initiated this audit because an IRS employee reported to the TIGTA Office of Investigations that the IRS was not working some taxpayer cases in which refunds were held. The Office of Investigations identified that the IRS did not timely address ...
Chart Shows When Will You Get Your 2016 Income Tax Refund
When will you get your income tax refund? If you're one of the millions of Americans who are asking that question (or will be in the coming weeks), we have the answer. It depends on a couple of factors, but the good news is that there are several ...
The Worst Tax Penalties and How to Help Your Clients Avoid Them
There is one tax saving approach we can always assist our clients with, and that is educating them about tax penalties. What follows is a list of the most punitive tax penalties along with simple tips on making sure your clients are never ...
Rubio Offers Unique Tax Reform Plan
Rubio’s proposed tax plan includes a dramatic change in the way capital gains are treated. With this little-noticed proposal, holders of capital assets – including securities, real estate and small business interests – would calculate their potential ...
IRS Advisory Council Releases Annual Report and Recommendations
Based on its report findings and discussions over the last year, the IRSAC made several recommendations on a broad range of issues and concerns.
IRS Wants More Info On PEOs – Professional Employer Organizations
Under legislation enacted last December, the IRS must establish a voluntary certification program for professional employer organizations (PEOs). The law requires them to meet a number of requirements, including certain bond and independent financial ...
National Accounting Group Blasts Congress for Cutting IRS Budget
The NSA letter expressed support for a November 9 letter signed by five former IRS commissioners sent to these same Congressional leaders that said, ““We do not understand why anyone with present and projected debts and annual losses as large as ...