Taxes
Maruca Honored for Distinguished Service in Taxation
Samuel M. Maruca of Covington & Burling LLP has been announced as this year’s recipient of the inaugural recipient of the 2015 Leonard L. Silverstein Award for Distinguished Service in Tax. The award, presented by Bloomberg BNA, recognizes his long ...
Tax-Exempt Filing Deadline is May 16
The IRS is reminding these groups not to include Social Security numbers (SSNs) or other unneeded personal information on their Forms 990, and consider taking advantage of the speed and convenience of electronic filing.
Tax Court Sides With Hair Stylist In Hobby Loss Case
She reported gross receipts of only $325, while claiming $16,131 in expenses, consisting of $13,000 in rent, $590 of hair products, $909 for a landline phone service, $600 for website maintenance, $552 for cellphone expenses and $480 for supplies.
Advancements in Technology Are Driving Risk of Tax Controversy
Controversy is also expected to increase due to international regulatory initiatives that demand country-by-country reporting. Countries adopting the OECD Base Erosion and Profit Shifting recommendations are not likely to be consistent.
IRS Issues Temporary Regulations for PEO Voluntary Certification
The Internal Revenue Service has released temporary and proposed regulations implementing a new voluntary certification program for professional employer organizations (PEOs).
Xero and Expensify Partner for Improved Integration
The improved integration includes auto-matching Expensify transactions directly into Xero bank accounts, which removes the need for manual reconciliation by the administrator. Expensify has also added purchase tax support for any tax rate supported ...
Tax Gap Hits $458 Billion Per Year: Who’s Not Paying Their Tax Debt?
Estimating the gap requires a “major statistical effort,” according to the IRS, so the gap is only estimated every few years. The last full update reported showed that the compliance rate for tax year 2006 was basically unchanged from the report on ...
Recognition After Tax Season: 6 Kudos Staff Will Love
Another tax season is over, and now you can catch your breath. As a manager for a public accounting firm, you may want to take off for a well-deserved vacation. But before you go, be sure to show your hardworking staff some recognition.