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Technology

House Leader Plans to Block Online Sales Tax

House Majority Leader Dick Armey has announced he will work to block sales taxes on Internet sales. The ban he foresees would be of a short-term nature. Representative Armey plans to rally support for a three-to-five year ban on Internet sales taxes in conjunction with legislation currently before Congress to make the current ban on Internet access taxes permanent.
Tax

Employers - New Withholding Tables Available For 2001

Under the recently enacted Economic Growth and Tax Relief Reconciliation Act of 2001, personal income tax rates will be reduced effective July 1. The IRS has issued Publication 15-T, New Withholding Tables for 2001 (for wages paid after June 30, 2001), and reminds employers that they are to begin using the new tables for withholding on wages paid after June 30, 2001. The new withholding tables are a supplement to Publications 15, 15-A, and 51, and should be used instead of the tables in those publications.
Tax

Clinton's Tax Status is Cause for Confusion

Former President Bill Clinton, currently in the United Kingdom on business, has given the taxing authorities there a bit of a problem over his tax status, reports our sister site, accountingweb.co.uk.The Inland Revenue's foreign entertainers unit is understood to have taken a month to decide whether the ex-President should be classified as an entertainer or a politician
Tax

Tax Legislation Client Seminar Tools

Key Provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001AccountingWEB is pleased to present a special offer on a turn-key client seminar on the new tax legislation, developed by Garverick - McCoy Seminars, a leader in tax seminar materials since 1993. Everything you'll need to put on a successful client seminar will be included in this package.
Tax

Are You an Employee or an Independent Contractor?

Working for yourself, either full- or part-time, means that you are not working as someone else's employee. You are considered to be either a sole proprietor or an independent contractor. But how do you know if you are self-employed or if the check you receive should have taxes withheld?If you are an independent contractor, you may perform services for someone who pays you for those services, but that person does not employ you.
Tax

IRS to Drop Interest Rates

The IRS has announced plans to drop the rate of interest on late tax payments to seven percent, effective July 1, 2001. The seven percent rate will apply to interest due on overpayments as well. The prior rate of eight percent will remain in effect through the end of June.The rate for overpayments for corporations will drop to six percent on July 1.
Tax

16 (and More) Smart Things to Do With Your Tax Rebate

Sometime this summer you're going to receive a check in the mail from your favorite Uncle Sam. Have you decided what to do with the money yet?
Tax

Social Security Number of Deceased Child Causes Grief

A Salem, Oregon couple suffered the loss of their baby to a rare pediatric disease early in 2000. Now the couple faces additional unexpected grief at the hands of the IRS.An unidentified taxpayer claimed the child as a dependent on a 2000 tax return, using the child's name and Social Security number, information that was apparently found on the Internet.The parents of the deceased child also claimed the child as a dependent on their 2000 tax return, a claim that was legal.
Tax

Attorneys Beware: The IRS is Looking For You!

The IRS has just published new Specialized Guidelines for Attorney Examinations. These guidelines will enhance the attorney audit guidelines already available in the IRS Market Segment Specialization Program, a program which is designed to train IRS examiners as specialists in particular industries.The purpose of the new guidelines is to help IRS examiners identify non-filing and non-compliant attorneys.
Tax

Highlights of the New Tax Legislation

We have prepared a 2001 Tax summary for you to offer to your clients as well as a complete set of links for you and your clients that we think would be helpful.
Tax

Official Word From the IRS on Tax Rebates

The IRS has issued its position on the new tax legislation, and details some additional information about timing of upcoming rebates.
Tax

Some States Will Take the Fun Out of Tax Rebates

Tax laws in eight states may require taxpayers to return a portion of the rebates they will receive from the federal government later this year.Some states allow residents to deduct federal tax payments from their state taxable income, so as the federal tax goes down, the state tax will increase, thus creating a tax on the rebate.According to the Federation of Tax Administrators, the states where the potential tax on federal tax rebates may occur include:IowaOklahomaLouisianaMissouriMontanaNorth DakotaOregon
Tax

Pentagon Agency Tries to Hoodwink IRS

The Pentagon's inspector general's office, the office charged with exposing fraud in the federal government, provided the IRS with fake documents in order to avoid embarrassment in an audit.The audit was part of a routine program where one U.S. inspector general checks the work of another. The inspector general's office apparently spent nearly 1,000 hours creating fake documents to cover up a 1988 audit report that they feared would not pass audit muster.
Tax

Deloitte Offers Free Booklet on New Retirement Rules

Deloitte & Touche's Human Capital Advisory Services practice has published a free 44-page booklet that examines the retirement issues associated with the new Economic Growth and Tax Relief Reconciliation Act.The new act makes significant changes to rules regarding retirement plans, simplifying some of the many regulatory complexities and expanding opportunities for saving and portability."These new retirement plan changes can offer some valuable tools to enhance your retirement plans in ways to attract and retain your needed workforce and to increase the retirement security for th
AccountingWEB Life

Secrets to Successful Project Management

Secrets to Successful Project ManagementPresented by Renee Jenkins, CPAIndependent Consultant, BizDawgsContact Renee at rmunoz@doitnow.comJune 7, 2001Visit the AccountingWEB Workshop Calendar for upcoming sessions.Summary
Tax

Tax Rebate is Yours, Even If You Didn't Earn It

Rather than taking the time to scrutinize every taxpayer's withholdings to date to find out who actually qualifies for the impending tax rebate, the IRS will send rebate checks of $300 to $600 to everyone who paid taxes in 2000 and filed their tax return on time.If it turns out that some people who stopped working in 2001 receive rebates for taxes they didn't pay, well, these people can consider the money a gift from the federal government.Analysts es
Tax

How Much Will the New Tax Laws Save You?

Intuit, the maker of Quicken personal finance software and TurboTax software, has created a calculator that will help you estimate your savings under the new tax laws for the next 10 years.
Tax

Tax Cut Brings Bad News for Some

High-tech firms are not pleased with all the aspects of the tax cut that was agreed to over the past weekend.
Tax

Check Your Mail! Uncle Sam is Sending Rebates!

President Bush’s massive tax cut has been approved by both houses and is expected to be signed by the president during the first week of June. The nation’s taxpayers will feel an immediate reverberation from the changes to the tax laws in the form of rebates from the IRS.A portion of the new tax cut that represents a 10% tax rate on the first $6,000 of earned income (as opposed to the former 15% rate) is to be retroactive to January 1, 2001.
Tax

Senate Passes Huge Tax Cut

Late Wednesday, the Senate passed President Bush's $1.35 trillion tax cut, a colossal program that will be phased in over 11 years.

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