Tax news March 2011

A&A

Mobile computing takes accountants to a new level of productivity

Mobile computing is one of the hottest trends in the consumer sector today. Driven largely by video, web-browsing, gaming, and other just-for-fun applications, it has quickly moved from gadget status to a must-have for consumers.
Tax

Pacino and Scorsese added to the list of Ponzi scheme victims

Al Pacino, who may be best known for the Godfather movies about the notorious Corleone mob family, is now finding he’s up against a real foe... the Internal Revenue Service. Public documents show Pacino owes the IRS nearly $188,000.
Tax

Eligible small business tops most sought-after tax advice list for February

Intuit ProLine Tax Research has provided AccountingWEB with this search cloud, showing the words and phrases that garnered the most searches in the Intuit ProLine tax products for the month of February. The larger the letters, the more searches for the topic.
Tax

House and Senate spar on repeal of 1099 reporting rule

Last week, the U.S. House of Representatives passed H.R. 4, a bill repealing the health care reform law provision that requires businesses to furnish 1099 statements to corporate vendors. The House bill has been returned to the Senate where it faces an uncertain fate.
Tax

Tax scams on the front burner at the IRS

In case you're thinking that maybe Wesley Snipes has a good point when it comes to lowering income taxes, the Internal Revenue Service wants to remind potential tax scam artists that it does not plan on ignoring frivolous tax evasion arguments.
Community News

Jackson Hewitt launches social media sweepstakes

To help inject added excitement into this year's tax season, in case preparing and filing tax returns isn't exciting enough, Jackson Hewitt Tax Service has launched two social media contests with cash prizes as the lure.
Tax

This year's Oscar swag bags are filled with tax consequences for nominees

Besides getting to don designer clothing and jewelry and pose for hundreds of photo ops on the red carpet, the members of the motion picture industry who are lucky enough to present or be nominated for an Academy Award also receive bags of goodies.
Tax

IRS looking at $1.1 billion windfall if 2007 returns miss the filing deadline

Refunds totaling more than $1.1 billion may be waiting for nearly 1.1 million people who did not file a federal income tax return for 2007, according to the Internal Revenue Service. However, to collect the money, a return for 2007 must be filed with the IRS no later than Monday, April 18, 2011.
Tax

IRS announces new auto depreciation limits for 2011

The IRS has published Revenue Procedure 2011-21 which sets out new guidelines for inflation-adjusted depreciation limits and lease inclusion amounts for passenger vehicles.

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