The IRS is moving forward in its efforts to provide more leeway under the "innocent spouse" rules. On August 12, the IRS proposed a permanent extension of the rule allowing taxpayers up to ten years to apply for equitable relief.
Mark Goldberg, a Bronx-based tax preparer, pled guilty to charges related to his participation in a scheme to file fraudulent tax returns on behalf of numerous clients, falsely claiming more than $7 million in bogus deductions, including school tuition credits and expenses.
A study released by the National Federation of Independent Business (NFIB) and the S-Corporation Association on August 7 shows that S-corporations pay the highest effective tax rates of any type of business.
A former Washington State real estate developer and his long-time girlfriend were convicted August 4 on twenty-five counts of tax evasion and false statements related to their scheme to avoid paying taxes on more than $23 million in income.
A subcommittee of the House Oversight and Government Reform – the same committee that's investigating alleged wrongdoings regarding tax-exempt applications of Tea Party and other conservative groups – warned that the IRS has to improve its efforts to thwart identity theft issues.
Before leaving for its August recess, the US House of Representatives on August 2 passed a bill that would prohibit the IRS from implementing or enforcing the Affordable Care Act, also known as Obamacare.
Because seventeen states and the Virgin Islands have had an outstanding federal unemployment insurance loan for at least two years, employers in those jurisdictions may not be able to claim the maximum amount of state unemployment tax credits on their 2013 FUTA tax return.
The Justice Department and IRS announced that John T. Hoang of Virginia pleaded guilty in federal district court in Washington, DC, to willfully aiding and assisting in the preparation of false income tax returns for tax year 2004.
President Obama on August 1 nominated John Koskinen as the next commissioner of the embattled IRS. The president tapped the retired Koskinen because of his ability to lead an organization out of a crisis.
Does it seem that the IRS scandal targeting conservative groups for extra scrutiny has been going for . . . well, forever? Certain Republican leaders in Congress think the IRS is prolonging the agony by holding back information.
If your clients have workers they consider to be independent contractors, you may want to drill down to ensure they are classifying them correctly and they're not actually employees in the eyes of the government.
The Republican-dominated committee claims that fifty-six applications filed by conservative groups were still pending as of May 31, while no groups with "progressive" in their names had a pending application.
Reality star Teresa Giudice has been in money trouble for a while. On July 29, it all got a whole lot worse when a federal grand jury handed down a thirty-nine count indictment against her and husband.
Did you know there are seventeen states where state sales tax charges are temporarily dropped on back-to-school items, such as clothing, footwear, classroom supplies, computers, and certain other products?
Following up on the success of his popular High Impact Excel session, this time around David H. Ringstrom, CPA turns his attention to pivot tables. In one hour you'll learn how to whip unwieldy data into shape, and then quickly build meaningful reports by dragging and dropping with your mouse. David will also discuss techniques for improving pivot table data integrity. Detailed handouts with numbered steps will be provided for a variety of Excel versions.