Tax news December 2013

A&A

Bramwell's Lunch Beat: How Twitter Masks Its Losses

Here are "Bramwell's Lunch Beat" menu items for December 5.
Tax

IRS Modernized e-File System Gets a Good TIGTA Review

In a report released publicly by TIGTA concluded the IRS Modernized e-File (MeF) system has successfully replaced the agency's Legacy e-File system as the primary e-filing platform for individual tax returns during the 2013 filing season.
Tax

IRS Testing BYOD Policy for Employees

The IRS is piloting a program that would allow employees access to work e-mail and other services on their personal smartphones, but according TIGTA, the IRS program should be cost effective and a full cost-benefit analysis is needed.
Tax

Supreme Court Piles on Hefty Tax Shelter Penalty

In a new case decided by the US Supreme Court, the remnants of a tax shelter partially constructed by wily Texas billionaire Billy Joe McCombs – known informally as "Red" – collapsed like a house of cards.
A&A

Bramwell's Lunch Beat: Morgan Stanley's Boo-Boos

Here are "Bramwell's Lunch Beat" menu items for December 4.
Tax

New Final Regulations Clarify Obamacare Tax Rules

Three provisions of the ACA may have a major impact on individual taxpayers and certain businesses beginning in 2013. The IRS has just issued voluminous new final regulations clarifying some of the rules.
Tax

NFL Players Call Personal Tax Foul on Cleveland

As professional athletes' salaries continue to escalate, several revenue-strapped states seem to be looking to the athletes for a solution. Two NFL players are crying foul and taking one major city to court.
Wealth management

Bramwell's Lunch Beat: Hip-Hop Channels Suze Orman

Here are "Bramwell's Lunch Beat" menu items for December 3.
Tax

AICPA Proposes Quick Disaster Relief for Taxpayers

The federal tax law provides relief to victims of natural disasters, but taxpayers generally have to wait until the government works its way through a lengthy process for each specific event. Now, the AICPA has proposed a faster solution.
Tax

Bramwell's Lunch Beat: Your Order's Up!

Welcome to our first installment of "Bramwell's Lunch Beat." Each weekday around lunchtime, I'll provide you, the accounting and finance professional, with some bite-sized summaries and links to news articles that may be of interest.
Tax

Seizing Private Assets to Enhance Fed Budgets?

Some are wondering if federal agencies are seizing private assets on flimsy evidence to beef up their budgets. In 1985, about $27 million assets were seized. That's no small amount, but leap forward to 2012, when the amount skyrocketed to $4 billion.

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