Tax news

Wealth management

TIGTA Investigates 'Missing' Alimony Payments

There's a $2.3 billion difference between what payers of alimony say they've shelled out and what recipients say they've received. TIGTA is very unhappy about this.
A&A

Bramwell’s Lunch Beat: GOP Senators Sink Tax Extenders Bill

The menu for May 16 features specials on PCAOB issues staff guidance on economic analysis standard setting, Beswick to leave SEC, CAQ and George Washington University start financial disclosure project, and more.
Tax

A Guide to the Tax Rules of Mortgage Refinancing

On the roller coaster that's the U.S. mortgage market, we may be seeing an opportunity to refinance once again. But beware the IRS—the tax rules are tricky and strict.
A&A

Bramwell’s Lunch Beat: Inversion Bill Is on the Way

The menu for May 15 features specials on Citibank cleans house over Banamex loan fraud, why hedge fund managers don’t use corporate tax loophole, two questions loom over Senate tax break bill, and more.
Tax

IRS Not Continuing Legal Fight Over Regulating Preparers

The agency decided not to file a petition with the US Supreme Court by the May 12 deadline to continue a court battle on whether it has the legal authority to mandate testing and continuing education of paid tax return preparers.
A&A

Bramwell’s Lunch Beat: New EU Audit Rules Could Be a ‘Challenge’ for US Banks

The menu for May 14 features specials on tax proposal could beef up highway fund, no veto threat on Senate tax extenders bill – yet, GOP wants medical devices tax eliminated, and more.
Tax

Senate Advances Tax Break Legislation

By a vote of 96 to 3, the Democrat-controlled Senate took its first step in reviving a plethora of expired tax breaks by advancing a bill on Tuesday that would extend the provisions for two years, adding nearly $85 billion to the deficit.
Tax

Report: IRS Made Up to $15.6 Billion in Faulty EITC Payments in 2013

The Treasury Inspector General for Tax Administration found that 22 to 26 percent of all EITC payments were issued improperly by the IRS last year, costing taxpayers between $13.3 billion to $15.6 billion.
A&A

Bramwell’s Lunch Beat: Tax Break Ball Back in Senate’s Court

The menu for May 13 features specials on Credit Suisse deal with US could reach $2 billion, financial restatements pack less of a punch, Audit Analytics examines SEC case lengths and settlements, and more.
Tax

Video Explains New FSA Flexibility Rules

In a new video on health care FSAs, the IRS shows flexibility on the old "use it or lose it" rules. You now have a choice between a grace period and carryover.
A&A

Bramwell’s Lunch Beat: SEC to Hear Appeal From Big Four’s China Affiliates

The menu for May 12 features specials on Pfizer/AstraZeneca deal: more about drugs or taxes, Credit Suisse CEO losing support, the House won’t arrest Lois Lerner, and more.
A&A

Bramwell’s Lunch Beat: Wyden Wants to Plug ‘Inversion’ Loophole

The menu for May 9 features specials on US likely to join six-nation tax alliance, Pfizer shareholders could face tax hit in AstraZeneca deal, IRS to give Ways and Means all Lois Lerner e-mails, and more.
Tax

R&D Tax Credit Bill Moves Through House

In a vote of 274 to 131, the House passed a measure on Friday that permanently extends the popular business R&D tax credit – which will add $156 billion to the deficit – despite a veto threat earlier this week from the White House.
A&A

Bramwell’s Lunch Beat: SEC in ‘Tough Spot’ With Alibaba IPO

The menu for May 8 features specials on fewer tax audits = $3 billion less for US government, PCAOB hands out sanctions, FASB proposes new requirements on "pushdown accounting," and more.
Tax

House Votes to Hold Ex-IRS Official Lois Lerner in Contempt

Contempt citation was passed by a vote of 231 to 187, almost a year after the IRS first acknowledged and apologized for scrutinizing the tax-exempt status of some conservative groups.
A&A

Bramwell’s Lunch Beat: White House Opposes House R&D Tax Bill

The menu for May 7 features specials on Missouri gets an income tax cut, Congress’ struggles over web tax, new House Dems IRS scandal report, most US millionaires think inequality is a problem, and more.
Practice

A Do-It-Yourself Peer Review for Tax Preparers

How do small tax prep firms handle peer review? If you're the sole professional, whom can you rely on to cast a second glance on your work? There are several solutions.
Tax

Did Ways and Means Violate Section 6103 of the Tax Code?

An article posted yesterday by the website Tax Analysts questions whether the House panel broke the law when it publicly disclosed confidential taxpayer information in a letter to US Attorney General Eric Holder last month.
A&A

CCH Small Firm Services Earns Top 25 Call Center Award from BenchmarkPortal

The CCH Small Firm Services' customer support call center has been ranked among the top 25 medium-sized centers in the United States and Canada, according to the latest Top 100 Call Center annual rankings by BenchmarkPortal.
Tax

How to Take a Tax Deduction on Your Good Name

Is the cost of defending your reputation tax deductible? Yes, if it's a business expense, but the IRS sets a high bar for what it considers "business."

Pages


Already a member? log in here.