IRS

If a client owns a “vacation home” in a resort area – say, a seaside cottage or a mountaintop cabin – the family may enjoy getaways there during the summer months. But when the kids grow up and the trip becomes a hassle, the place may lie dormant for much of the season. It could be time for the client to turn their summer retreat into a rich source of rental income.

The IRS recently released new tax forms for Tax Year 2014, for which individuals will file by April 15, 2015.

The IRS will be holding two free webinars for small businesses and encouraging them to check out several key tax benefits and a special relief program for employers who reclassify their workers as employees.

The National Society of Accountants (NSA) is offering an intensive NSA Enrolled Agent Exam Review Course August 18-20, 2014, in Baltimore, Maryland.

May 15 is the filing deadline for most tax-exempt organizations, and those who miss filing may risk the loss of their tax-exempt status.

Although the actual risk is very low that most Americans will face an IRS audit of their taxes, the fear of that potential is a strong factor that keeps most taxpayers on the level, according to a new report from WalletHub, a financial management and information website for consumers.

Reminder for small tax-exempt organizations to file IRS Form 990-N annually to stay in compliance.

Now that this year’s tax filing season for individuals is over, it’s time to concentrate on saving taxes in 2014. All too often, professional tax advisors don’t reach out to their clients until the very end of the year when it might be too late for them to implement meaningful tax planning strategies. Break up the spring and summer doldrums by presenting these ten ideas for their consideration.