Tax news March 2014 | AccountingWEB

Tax news March 2014


5 Tax Advantages for Small Businesses This Filing Season

There are a myriad of tax benefits and deductions available to small businesses this filing season. Two tax partners with BDO USA LLP shed light on five in particular that business owners should consider.

Colorado Marijuana Taxes Helping the Bottom Line

Colorado's Department of Revenue finds that legal drug dealing can be quite lucrative, as the sales and excise taxes on retail marijuana sales roll in.

Survey: Tax Reform Strikes Out in 2014

All 129 business tax executives surveyed recently by law firm Miller & Chevalier and the National Foreign Trade Council believe tax reform is unlikely this year. However, 77 percent think the package of tax breaks that expired at the end of 2013 will be extended by Congress.

NFL vs. Cleveland Tax Authorities: 3rd Down

Two football players continue to try to make their case that the city of Cleveland improperly taxed their income.

Bramwell’s Lunch Beat: Koskinen’s 15-Second Decision

Here are “Bramwell’s Lunch Beat” menu items for March 10.

IRS Is Handing Out Bigger Refunds This Year

Tax refunds are up, as the IRS computers pull the Service ahead of last year's numbers.

The Lowdown on Tax Audits

New IRS guidance and various studies explode some myths on the dreaded tax audit and give hints on who gets audited and why.

Why Enhancing the Earned Income Credit Is a Bad Idea

The EIC may be designed to help the poor, but it is causing nothing but headaches for tax preparers caught in the middle.

IRS Would Receive More Funding in Obama’s 2015 Budget

A proposed fiscal year 2015 budget released by President Obama yesterday would provide the IRS with $12 billion in base funding, up 6.3 percent over the 2014 enacted level. The budget would also allot $165 million to improve IRS customer service.

Bramwell’s Lunch Beat: Lois Pleads the Fifth at Hearing

Here are “Bramwell’s Lunch Beat” menu items for March 5.

Tax Returns Keep Rolling In to the IRS

The IRS noted last Thursday that, as of February 21, it has received nearly 49.6 million individual income tax returns – about one-third of the amount the nation’s tax-collection agency projected before the start of the 2014 filing season on January 31.

Bramwell’s Lunch Beat: Will IRS Pare Back 501(c)(4) Rules?

Here are “Bramwell’s Lunch Beat” menu items for March 3.


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