Tax news July 2009

Tax

"Cash for Clunkers" may be cash for grandparents

Buy a new car before November 1st with a trade-in and get a tax-free credit of up to $4,500.
4940
Tax

Combustible tax deductions: Will this charitable contribution go up in smoke?

It may sound suspicious, but many CPAs and attorneys argue that it’s a legitimate tax strategy.
3074
Tax

Inspector General requests help from tax preparers

Tax professionals are invited to help shape regulations and also curb unethical or illegal activities by unscrupulous preparers.
2086
A&A

Home office deduction simplification gathers steam

Senators and representatives from both parties are joining forces to promote legislation that would simplify the home office tax deduction.
4323
Tax

Rappers Foxy Brown and Toni Braxton face tax liens

Singers Foxy Brown and Toni Braxton reportedly face hefty tax liens, ranging from $79,315 for Braxton to $641,558 for Brown.
2740
Tax

IRS adjusts focus to hedge fund investors

The Internal Revenue’s focus on income from foreign bank and financial accounts could turn to investors in hedge funds with foreign domiciles.
2852
Tax

Screaming IRS agent goes to jail

Few things are certain in this life. There's death, and of course we all have to pay our taxes. Here’s a third rule to live by: it is never a good idea to scream death threats at federal agents.
5871
Tax

He’s back... Survivor winner Richard Hatch is in the spotlight again

He was the first winner of the hit reality show, Survivor. And... then he made headlines again in 2006 for failing to pay taxes. Now... he’s back.
2946
Tax

Tax options in health care reform debate

Funding health care reform, which will probably carry a $1 trillion price tag, will involve both cost saving measures and tax increases.
3597
Tax

IRS Webinar addresses Office of Professional Responsibility

The next installment of the Internal Revenue Service's Tax Talk Today will discuss "OPR: A Balanced Approach," featuring the agency's Office of Professional Responsibility, its oversight role and its approaches to its mission. The Web-based show will be held July 14 at 2 p.m.
272
Tax

Another Ponzi scheme is dismantled

The Securities and Exchange Commission has obtained an emergency asset freeze in a $485 million offering fraud and Ponzi scheme orchestrated by three Dallas businessmen through a company they owned and controlled, Provident Royalties LLC.
260
Tax

Boiler room brokers get burned by SEC

The Securities and Exchange Commission has charged New York-based broker-dealer Sky Capital LLC and six individuals involved in a fraudulent boiler room scheme that raised millions of dollars from U.S. and UK investors who were then restricted from selling their stock, and their investments later became worthless.
364
Tax

Online retailers Amazon, Overstock.com in tax dispute with states

Soon after dropping its California and Hawaii-based marketing affiliates over online tax issues, Overstock.com reversed its decision after state officials assured the online retailer that sales tax bills in those states won't become law.The issue centers on legislation that requires companies to collect sales tax if they have marketing affiliates in the state. Affiliates earn money by posting ads for Overstock and its products on their Web sites.
1269
Tax

Taxpayer Advocate addresses tax preparer oversight, OIC, taxpayer services

National Taxpayer Advocate Nina E. Olson delivered a report to Congress this week that identifies the priority issues the Office of the Taxpayer Advocate will address in the coming fiscal year.
766

Voice of the Editor

What makes a company a great place to work? Experience, a ConnectEDU company, uses criteria that include benefits, career advancement opportunities, culture, and work/life balance to form its annual list of the Best Places to Work for Recent Grads. BDO USA and Ernst & Young both made the Top 25 list. Read what makes these firms stand out and find out what can be done at your firm to entice college grads.

Read more
Gail Perry, CPA
Publisher/Editor-in-Chief, AccountingWEB
editor@accountingweb.com
ADVERTISEMENT

This Week on AccountingWEB

Hang Bower of BDO USA and Dan Black of Ernst & Young share their perspectives on why their firms made the Best Places to Work for Recent Grads 2013 list.
Herbein + Company, Inc. firm members talked with AccountingWEB about their year-round employee wellness program.
Bill Walter of Gross, Mendelsohn & Associates and Harold Gaar of TravisWolff LLP weigh in on mobile technology use while employees are at work.
CPA Robert Raiola, who heads the Sports & Entertainment Group of Fazio, Mannuzza, Roche, Tankel, LaPilusa, LLC, talks NFL player income taxes with AccountingWEB.
Loading...
AccountingWEB Live!
This is the groundbreaking virtual conference that gives you the experience of attending a major national conference without having to travel or leave your office. We're gathering national-caliber speakers from the accounting profession to share their knowledge and insights with you. We promise each session will contain valuable takeaways you can implement in your practice immediately.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT