While tax preparers are not required to audit their clients’ records before filing returns, there are several client profiles that may require a closer look to ensure an accurate tax return and avoid potential civil and/or criminal fraud allegations.
read more…With April 15 less than a month away, it may be easy for busy practitioners to overlook some of the tax benefits clients can elect to take.
read more…The gift-tax annual exclusion, impacting those making contributions to 529 plans, will be increased by $1,000 to $14,000 for 2013.
read more…Struggling taxpayers can now breathe a large sigh of relief; the Internal Revenue Service is expanding its “Fresh Start” initiative to enable some of the most financially distressed taxpayers to clear up their tax problems in as little as two years, as compared to four or five years in the past.
read more…If you think the heat is sweltering now, just remember the amount of sweat you generate when the tax deadline begins to approach in April.
read more…When you own a small business, the the efficiency of your company ultimately lies on your shoulders.
read more…Large Employer Penalties (50 or more FTE’s):
read more…Taxpayers who converted a traditional IRA to a Roth IRA in 2010 are being reminded by the Internal Revenue Service to report half of the resulting taxable income on their 2012 returns.
read more…During this time, many questions arise about the ins and outs of tax claims and dependencies. Divorced parents should pay particular attention to current tax laws as specific forms will need to be filed, particularly in the instance of one parent having full physical custody.
read more…Applicable Federal Rates are used to calculate assigned interest charges and published monthly by the Internal Revenue Service for federal income tax purposes.
read more…
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