By a vote of fifty-nine to thirty-six, the Senate on December 20 confirmed John Koskinen as the next commissioner of the IRS, thus giving the embattled agency its first permanent chief since Douglas Shulman in 2012.
The IRS promised to provide more guidance regarding the tax treatment of same-sex couples in the wake of the Supreme Court's recent ruling invalidating Section 3 of the Defense of Marriage Act (DOMA). Slowly but surely, it's starting to deliver.
The 2014 tax-filing season, which was scheduled to begin on January 21 but was delayed because the IRS could not program and test its tax-processing systems during the sixteen-day federal government shutdown in October, will now begin on January 31, according to the agency.
It's official. New York Yankee Robinson Cano will soon switch coasts as a result of the contract that he signed with the Seattle Mariners. Both teams wanted the five-time All-Star second baseman, and both made nice offers.
Under federal law, income from growing medical marijuana is ill-gotten gain. It is, however, taxable, as is all income. In some states, growing cannabis is legal for medical purposes and in Colorado, it's legal – period.
The Roth 401(k) has failed to gain much traction in the workplace. But a provision in ATRA was designed to grease the skids. Now the IRS has provided valuable guidance on in-plan Roth 401(k) rollovers in Notice 2013-74.
From taxation of Cloud-related activities and the prospect for US and international business tax reform to the implementation of the Foreign Account Tax Compliance Act (FATCA), there are several key tax issues facing business executives in 2014, according to Big Four firm KPMG LLP.
Under the federal tax code, inflation can create an infinite effective tax rate on capital gains, and in fact, if a taxpayer purchased an average stock in 2000 or 2007 and sold in 2013, he or she would be taxed entirely on inflation, according to a new study from the Tax Foundation.
Rathana Ung, the former director and officer of Lim's Income Tax and Lim's Tax, Inc., was sentenced to twelve months and a day imprisonment, one year of supervised release, and ordered to pay $103,736 in restitution to the IRS.
Boxer Manny Pacquiao had enough troubles holding off the tax authorities in his Filipino homeland. The BIR of the Republic of Philippines said he owed an enormous tax bill relating to income he earned fighting US matches in 2008 and 2009.
According to a press release by the Global Business Travel Association, a business and travel meetings organization with more than 5,000 members, "taxes levied specifically on travel-related services increased the total tax bill for a traveler by 58 percent in 2013."
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.