Taxes
IRS Changing Identity Theft Policy to Combat Tax ID Threats
If you have ever had a client facing identity theft, you know that the first thing they want to find out is what specific information was compromised. But, until recently, the IRS has had a policy in place that prevented identity theft victims from ...
AICPA Tax Leader Endorses Small Business Tax Compliance Act
Says the bill encompasses recommendations proposed by the AICPA that would relieve burdens imposed on small businesses by the tax code.
IRS Has Material Weakness in Internal Controls Over Unpaid Tax Assessments
The Internal Revenue Service (IRS) is currently planning activities to address a recurring financial material weakness in its internal control over unpaid tax assessments. However, planning for the Customer Account Data Engine 2 (CADE 2) Transition State 2 (TS2) has not included specific actions and activities necessary to guide new system development efforts and to […]
4 Ways Tax Professionals Can Improve Their Tax Season
By utilizing technology for proactive engagement throughout the year, and especially early on the tax season, CPAs can improve client preparation and retention and minimize that last minute scramble in April.
Which Employee Fringe Benefits Are Taxable?
Now is the perfect time to look at the fringe benefits you provide to your employees. This specific taxation is a main focus of the IRS right now, and they recently conducted several free webinars to review the taxability of fringe benefits.
The ABCs of Higher Education Tax Breaks
One of the groups working on tax reform for the Senate Finance Committee (SFC) has just recommended that the two higher education credits and the tuition deduction be combined into a single credit. But significant tax reform is still in its infancy.
New Healthcare Penalty Can Sneak Up on Employers
Effective midway through this year -- July 1, 2015, to be exact – certain employers that pay the health insurance premiums of its employees will be assessed hefty fines for their generosity.
CPAs Weigh in on the Future of Peer Review
The Institute wants to build a system that would be programmed to provide a continuous analytical evaluation of a firm’s engagement performance that would require human review when the system identified concerns. It would review all firms that perform ...