Nov 13, 2017 | Helpful Articles, Tax Legislation
While the house bill contained several landmines for the unwary, the senate bill has both hidden gems and camouflaged pitfalls in its differences. Many of the provisions of both bills are effectively the same, but there are several notable discrepancies. These are...
Dec 12, 2016 | Tax Legislation
As part of the Protecting Americans from Tax Hikes (PATH) act, passed at the end of 2015, new deadlines were instituted for Forms W-2 and 1099-MISC, along with penalties for failure to comply. For forms reporting income from 2016, these must now be provided to both...
Jun 15, 2016 | Helpful Articles, Tax Legislation
Tax amnesty programs are limited duration programs where a state provides taxpayers with an opportunity to come clean and pay back taxes with interest and/or penalties reduced or waived. These benefits are available for individuals, businesses or both depending on...
Dec 21, 2015 | Latest Tax Developments, Tax Legislation
On December 18th President Obama signed into law the long negotiated extender legislation passed by the senate earlier in the day. Under the enacted legislation the tax provisions which expired at the end of 2014 were retroactively reinstated for 2015. Of those...
Nov 19, 2015 | Tax Legislation, Tax Planning and Preparation
In an effort to standardize the way the administration enforces the FBAR (Foreign Bank Account Report) rules and penalties, the IRS recently produced an internal memorandum to facilitate consistency in this area. Among other things the IRS’ internal memo details are...
Sep 2, 2015 | Latest Tax Developments, Tax Legislation
President Obama signed the short-term highway funding extension, H.R. 3236, into law on Friday, July 31, 2015. Included in that law were a series of revised filing deadlines for numerous taxpayers. The most notable are as follows: Partnerships (and entities taxed as...
