Taxes
Congress to Tax Debtors: Let Me See Your Passport
Are your federal income taxes overdue? You could lose your passport if you try to leave the country – even if you’re just taking a vacation or business trip abroad.
AICPA Objects to New Bill to Regulate Income Tax Preparers
The new bill was proposed after a prior regulatory program was successfully challenged in court by unlicensed tax return preparers (Loving, et. al. v. IRS, CA- D.C., No. 13-5061, 2/11/14). Subsequently, the IRS instituted a voluntary program.
Congress Considers Regulating Tax Preparers
The bill follows close on the heels of the IRS’ release of the Dirty Dozen list of tax scams for 2015 warning of of “dishonest preparers who set up shop each filing season to perpetrate refund fraud, identity theft and other scams that hurt taxpayers.”
How To Dodge A Tax Hit When Selling a Rental Property
All types of commercial properties can be considered “like-kind,” including apartment buildings, vacant land, farmland, office buildings and warehouses among other properties.
5 Ways to Differentiate Your Firm From The Pack This Tax Season
In differentiating your firm, you can speak in greater detail about the focused services you offer and the value of those solutions to clients. Furthermore, you no longer have to communicate to the masses, but rather can directly target to the ...
5 Tips to Avoid Online ID Theft
Nearly two-thirds of Americans have heard, read or seen something about online safety and security issues recently, according to StopThinkConnect.org. Yet consumers also say they don’t take steps to stay safe online because they lack information or ...
Report Says Enforcing Payment Card Reporting Could Narrow Tax Gap
The IRS received 2,933 Forms 1099-K with gross transactions totaling $543.9 million for which the payee TIN was that of a deceased individual. TIGTA identified that the TIN Matching Program, used by payers to verify a payee TIN, does not alert the ...
5 Tips to Avoid Identity Theft During the Holidays
Statistics show approximately 15 million Americans have their identities used fraudulently each year, with financial losses totaling upwards of $50 billion.