Tax news

Tax

Tax Refunds Could Be Grounded By Debt Ceiling Stand-Off

Is there a danger that the IRS won’t make good on its promise to send speedy federal income tax refunds to taxpayers? That’s a distinct possibility, according to Treasury Secretary Jack Lew and the Democrats on the House Ways & Means Committee.
Tax

Bramwell’s Lunch Beat: Orrin Hatch is Outraged Over IRS Employee Bonuses

Here are “Bramwell’s Lunch Beat” menu items for February 4.
Tax

Tips on How You Can Stand Out From Other Tax Professionals

Eva Rosenberg explains a few things you can do to make sure your clients don't go anywhere else for professional tax help.
Tax

Bramwell’s Lunch Beat: IRS: Don’t Call Us

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

Bramwell’s Lunch Beat: Psst … You Can File Your Taxes Now

Here are “Bramwell’s Lunch Beat” menu items for January 31.
Tax

Super Bowl Money and Tax Facts You May Not Know

NFL players are well-paid, even the rookies. But the biggest winners this year – the Denver Broncos and the Seattle Seahawks – are playing in the Super Bowl this weekend. However, all of the Denver and Seattle players will owe the state of New Jersey taxes, thanks to the “jock tax.”
Tax

New Medicare Surtax Form Makes Its Debut

With just a few scant days until the official start of tax-filing season, the IRS approved a final draft of new Form 8960, "Net Investment Income Tax—Individuals, Estates, and Trusts." This form will be used to compute the new 3.8 percent Medicare surtax on net investment income on 2013 federal income tax returns.
Tax

Bramwell’s Lunch Beat: SOTU Roundup

Here are “Bramwell’s Lunch Beat” menu items for January 29.
Tax

Clayton Kershaw Saves Millions in Taxes, Thanks to Texas

Clayton Kershaw just signed a record breaking deal with the Los Angeles Dodgers. So his primary workplace will be southern California, but he’s keeping his Texas address, more than 1,400 miles east. That may have something to do with family issues and the pride of being a Texan. But it’s also a smart money move.
Tax

Bramwell’s Lunch Beat: Letter Takes Lawmaker to Task Over IRS Budget

Here are “Bramwell’s Lunch Beat” menu items for January 28.
Tax

IRS Proposes Regs on Obamacare Penalties for Individuals

At long last, the much-publicized health insurance mandate for individuals went into effect on January 1. Now, less than a month later, the IRS has issued new proposed regulations governing the penalties for noncompliance.
Tax

Bramwell’s Lunch Beat: GOP Wants to Scrap FATCA

Here are “Bramwell’s Lunch Beat” menu items for January 24.
Tax

Ex-IRS Worker Admits to Stealing $1.7 Million in Fake Refunds

Monica Nanette Hernandez, a former IRS data clerk, pleaded guilty on January 21 to one count of aggravated identity theft, one count of filing false income tax returns, and one count of wire fraud. She will be sentenced on April 14.
Tax

Film Credits: Your Tax Dollars at Work Making Movies

Federal film credits are not new, but they are becoming big business in more ways than one. Approximately forty states receive federal film credits they can use to entice moviemakers to make motion pictures within their borders.
Tax

Workers’ Comp and S Corp Owners?

Consider an S corporation with a shareholder who owns 2 percent or more of the company. We know if the company pays for their health insurance, that needs to be added to their wages, right? But what about when the owners are covered by their workers’ compensation insurance policies?
Tax

The Tax Picture of Downton Abbey If It Were in the US

Think you’ve got tax problems? Compared to the residents of Downton Abbey, you ain’t seen nuthin'. Just in time for this year’s US tax season, we’re treated to a fictional tax problem in the United Kingdom that may make yours pale in comparison.
Tax

Bramwell’s Lunch Beat: CPAs Prevail Over Computers – For Now

Here are “Bramwell’s Lunch Beat” menu items for January 17.
Tax

Tax-Evading Toymaker Gets Slap on the Wrist

Billionaire H. Ty Warner, the sixty-nine-year-old founder of the Beanie Baby franchise, could have been sent to federal prison for five years for tax evasion. Instead, a US district court judge in Chicago treated the toy magnate with kid gloves.
Tax

Bramwell’s Lunch Beat: Municipality's Boot Stipend Under Review by IRS

Here are “Bramwell’s Lunch Beat” menu items for January 16.
Tax

National Taxpayer Advocate Wants Taxpayer Bill of Rights

It’s not exactly the rallying cry of “no taxation without representation,” but National Taxpayer Advocate Nina E. Olson has called on the IRS to adopt a comprehensive new Taxpayer Bill of Rights.

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