Court Shuts Down Orange County Tax Preparer
A federal court in Santa Ana, California, has permanently barred tax return preparer Ernesto Jesus Suarez, age 61, a resident of Orange, California, from preparing tax returns for others. The civil injunction order, to which Suarez consented, was signed by Judge Cormac J. Carney of the US District Court for the Central District of California.
Residential Energy Efficient Property Credit
Here's a quick review of the Residential Energy Efficient Property Credit:
- The tax credit helps taxpayers pay for qualified residential alternative energy equipment, such as solar hot water heaters, solar electricity equipment, and wind turbines.
- The credit, which runs through 2016, is 30 percent of the cost of qualified property.
- There is no cap on the amount of credit available, except for fuel cell property.
- Generally, you may include labor costs when figuring the credit, and you can carry forward any unused portions of this credit.
- Qualifying equipment must have been installed on, or in connection with, a home located in the United States; fuel cell property qualifies only when installed on or in connection with a taxpayer's main home located in the United States.
IRS Tax Tip 2012-45
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.