Despite John’s being employed full-time in a large corporation, he spent considerably more time at his freelancing activity this past year. The activity involves touring on his bicycle, writing articles, and taking pictures about his tours, the local attractions, and the people he met along the way. He sold these articles to various publishers and increased his income significantly in 2010 over 2009. At first only a few publishers of bicycling magazines were interested, but soon word spread and travel magazine publishers liked his “on-the-road” perspective of local attractions and the people he encountered.

Michael Moore rose to fame for documentaries like Fahrenheit 9/11. As the highest grossing documentary, it brought in $222 million. Moore received $20 million of the profits in a 50-50 split with his partners, Bob and Harvey Weinstein. Now, he is taking them to court for more.

A recent informal poll of enrolled agents (federally-licensed tax practitioners) revealed many common misconceptions among taxpayers

When the U.S. Securities and Exchange Commission tells a CPA, “Thou shalt not practice,” they don’t mean maybe. The SEC filed a settled enforcement action January 11 against Michael R. Drogin, of New York and New Jersey.

The IRS has opened the floodgates for filing of all 2010 individual income tax returns, effective Monday, February 14. Refunds are not expected to be delayed.

Rep. Nydia M. Velazquez (D-NY), the ranking member of the House Committee on Small Business, has called for repeal of the onerous new tax reporting rule, which was enacted last year as part of health care reform.

The IRS this week announced a special voluntary disclosure initiative designed to bring offshore money back into the U.S. tax system.

An Obama administration proposal would ease the debts of states struggling to pay unemployment benefits by increasing the amount of payroll taxes collected from businesses.

Demand for forensic accounting services from businesses of all sizes has made qualifying for a second certification in forensics and fraud examination an attractive option for accountants.