Tax news September 2011 | AccountingWEB

Tax news September 2011


Will Congress Green Light the Main Street Fairness Act?

As more Americans continue to shop by entering just a few keystrokes, new proposed legislation could return foot traffic to traditional retail outlets.
Election 2012

Tax talk leads off GOP debate in Florida

The latest Republican debate in Orlando kicked off with a clear focus on taxes and their effect on small businesses and overall economic growth.

Recap of tax winners and losers in new jobs bill

President Obama has proposed a number of significant tax changes in the American Jobs Act of 2011, including payroll tax cuts, tax credits to encourage hiring, extension of the 100 percent bonus depreciation tax break, and several revenue-raisers.

Busted: State tax investigator accused of theft

When will a small minority of tax professionals learn that crime doesn't pay? You would think they would know better.

Detroit tax preparer accused of falsifying client income to maximize Earned Income Tax Credits

The United States has sued Crystal Ireland and her business, Master Mind Preparation, to bar them from preparing tax returns for others.

New report from the GAO flags problems with the IRS whistleblower program

The Government Accountability Office (GAO) says that the revamped Internal Revenue Service (IRS) whistleblower program isn't doing its job. The program rewards people who turn in tax cheats in cases involving fraud of $2 million or more.

California to tax scofflaws: Pay up or lose your driver's (or CPA) license

The California State Assembly has approved Assembly Bill 1424, the Delinquent Taxpayer Accountability Act, aimed at the state's worst tax debtors. The bill delivers a clear message: pay your back taxes or we'll suspend your driver's license and/or professional licenses.

New legislation curbs patents on tax strategies

The new "America Invents Act" – signed by the president on September 16, 2011 – includes the biggest overhaul of the U.S. patent system in almost 60 years.

Feds charge tax pro with filing thousands of false returns

Do you tell your clients to comply with the tax law? Make sure you practice what you preach. In an extreme example, a tax return preparer in Washington D.C. is facing criminal charges in federal court for allegedly scamming the IRS out of almost $14 million.

It's National Tax Preparer Recruiting Week at Jackson Hewitt

Jackson Hewitt expects to hire 25,000 tax preparers this week in preparation for the 2012 tax season.

IRS issues new guidance on tax treatment of cell phones

The Internal Revenue Service (IRS) has issued guidance and also a new memo which together clarify the tax treatment of cell phones provided by employers and cell phone reimbursement plans.

IRS extends additional tax relief to Hurricane Irene victims

In the aftermath of Hurricane Irene, the IRS has updated its Web site to provide filing and payment relief to more taxpayers in federal disaster areas declared in Connecticut, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Puerto Rico, and Vermont.

Amazon, California reach agreement in sales tax battle

Lawmakers in California say they've reached a truce with Amazon in a contentious disagreement over whether the online bookseller should collect state sales tax.

IRS announces topics for tax return preparer test

The Internal Revenue Service has released the specifications for the competency test individuals must pass to become a Registered Tax Return Preparer. The test is part of an ongoing effort by the IRS to enhance oversight of the tax preparation industry.

IRS announces extensions and other relief to Hurricane Irene victims

The Internal Revenue Service is providing tax relief to individual and business taxpayers impacted by Hurricane Irene.
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