October 2, 2015
The IRS is running into problems as it struggles to get control over the wave of identity theft tax refund fraud that has engulfed the Tampa, Florida, area and spread to other parts of the country over the last three years.
September 29, 2015
The one-year extension of the replacement period announced today generally applies to capital gains realized by eligible farmers and ranchers on sales of livestock held for draft, dairy or breeding purposes due to drought.
September 29, 2015
New York’s latest tax system overhaul has brought about substantial changes and complex transitional rules. They affect New York-based corporations as well as companies that conduct business with New York corporations or have customers in the state.
September 28, 2015
Some taxpayers who have spent the last few years trying to avoid the alternative minimum tax (AMT) might try a novel approach in 2015: They might actually increase their AMT liability. This could be the optimal approach after you’ve conducted an ...
September 22, 2015
In an effort to eliminate dual taxation with respect to Social Security taxes, the United States entered into international agreements, called Totalization Agreements, with 24 foreign countries.
September 21, 2015
I was intrigued when a blog boldly declared that IRS statistics show that states that attempt to tax the wealthy to pay for social programs only serve to drive the wealthy to states that offer lower taxes. Anyone who follows the ...
September 21, 2015
The IRS issued more than 100.3 million refunds totaling more than $270.9 billion, compared to nearly 101.2 million refunds totaling more than $272.4 billion in 2014. The average refund increased slightly to $2,701 in 2015, compared with ...
September 20, 2015
In addition to the standard rates for specific destinations, certain high-cost areas are specified. All the other destinations are treated as low-cost areas if the high-low alternative is used.
September 14, 2015
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.
September 10, 2015
Bush unveiled his long-awaited tax reform plan against the backdrop of a North Carolina factory. Unlike other approaches from his conservative brethren, Bush went out on a limb in proposing sweeping changes that would slash taxes for millions of ...
September 2, 2015
Bloomberg BNA has published a complimentary new white paper, Special Report on §199 Domestic Production Activity Regulations. The special report analyzes the long-awaited new proposed, temporary, and final regulations issued by the Internal Revenue Servi
September 1, 2015
The IRS’s processing of tax returns that reported or claimed Premium Tax Credits (PTC) during the 2015 filing season was challenged by delays in receiving data from some Health Insurance Marketplaces (Exchanges), according to ...