Tax news

A&A

Bramwell’s Lunch Beat: The IRS Has Got the Archivin’ Blues

The menu for June 25 features specials on DC Council approves “yoga tax,” AICPA sends second letter to IRS against proposed voluntary preparer certification program, Walgreen won’t rule out inversion, and more.
Tax

Knowing the Three Tax Scenarios for Vacation Homes

Using your vacation home? Renting it out to others? Doing a mix of both? The tax situation is different in each case, and you need to keep careful records and know all the rules.
Practice

Two Large Ohio Cities Most Tax-Friendly for US Businesses: Study

According to a new KPMG report, the top five US cities with populations above 2 million that have the most favorable tax climate for businesses are Cincinnati, Cleveland, Atlanta, Baltimore, and Pittsburgh.
A&A

Bramwell’s Lunch Beat: KPMG Gobbles Up Another Tech Business

The menu for June 24 features specials on IRS chief grilled again over lost emails, Shire puts an end to AbbVie’s inversion plans, not much support for gas tax hike, “Yoga Tax” vote today in DC, and more.
Tax

Hire Your Kids and Save on Taxes

Freelancers and other self-employed individuals can trim their taxes by employing their children. Their salaries stay in the family, but are shifted into their lower tax bracket.
Practice

How to Use the Child Care Credit in the Summer

The school year is over, and now your clients' children are around. Not to worry: parents get tax credits for summertime daycare, but there are specific rules and limitations.
A&A

Bramwell’s Lunch Beat: No Apology From John Koskinen Over Lost IRS Emails

The menu for June 20 features specials on ParenteBeard and Baker Tilly talk merger, US Supreme Court rules in favor of IRS on summons issue, CAQ releases auditor reporting field-testing findings, and more.
Practice

Why Extending R&D Credit Should Matter to Small Businesses

Despite the credit’s current uncertainty in Congress, experts say that small business owners should pay attention to lawmakers’ discussions because of the provisions the tax break could provide their companies once a compromise is reached.
A&A

Bramwell’s Lunch Beat: A Bipartisan Pitch for a Gas Tax Hike

The menu for June 19 features specials on BDO USA names new CFO, lost Lois Lerner emails likely gone for good, House Ways and Means aide subpoenaed in trading probe, Medtronic investors will take big tax hit, and more.
Tax

IRS Chief Highlights Changes to Offshore Disclosure Initiative

IRS Commissioner John Koskinen outlined a number of changes to the agency's Offshore Voluntary Disclosure Program on Wednesday, which he believes will lead to a surge in US taxpayers coming forward to report on undisclosed foreign accounts.
Tax

House Panel Approves Lasting Moratorium on Internet Access Taxes

By a 30-to-4 vote, the House Judiciary Committee backed a bill on Wednesday that would make permanent a moratorium that bans state and local governments from taxing access to the Internet.
A&A

Bramwell’s Lunch Beat: Medtronic Deal Spurs More Tax Reform Talk

The menu for June 18 features specials on lost IRS emails could hurt GOP’s inquiry, SEC puts more emphasis on combating financial reporting and audit fraud, Madoff’s ex-accountant likely to plead guilty, and more.
Tax

Camp and Boustany: IRS Lost More Emails Than Just Lerner’s

The two House Republican leaders alleged on Tuesday that the IRS cannot produce emails from six other agency employees connected to the Tea Party scandal due to computer malfunctions.
Tax

Are Frequent Flyer Miles Next to Be Taxed?

The possibility that frequent flyer and other rewards will soon be taxed has filled the blogosphere. But the rumors are heading down the runway before they've even got clearance. What's the real story from the IRS?
A&A

Bramwell’s Lunch Beat: Issa and Koskinen to Square Off Next Week Over Lost Emails

The menu for June 17 features specials on 13 companies that paid no taxes in Q1 of 2014, states offering businesses an abundance of tax credits, ex-Medtronic CEO defending former employer’s tax inversion deal, and more.
Tax

Working with the IRS: Post-April 15 Guidelines

Sure, tax preparers have a lot of work leading up to April 15. But there's plenty to do afterward, as the IRS starts reviewing the returns—and possibly finding mistakes.
A&A

Bramwell’s Lunch Beat: Medtronic Riding ‘Tax Inversion’ Wave

The menu for June 16 features specials on lawmakers exasperated by lost Lois Lerner emails, the true cost of tax havens, Scott London said past year “worse than I could have ever imagined,” and more.
A&A

Bramwell's Lunch Beat: Drop in Income Taxes Catches Many States by Surprise

The menu for June 13 features specials on House passing more business tax breaks, Eric Cantor defeat may stall offshore tax holiday proposal, protests over Walgreens’ possible reincorporation in Switzerland, and more.
Tax

IRS Prohibits End-Run around ACA Rules

The Service takes a stand against employers who figure they'll pay workers upfront for health insurance on the state or federal exchanges rather than provide coverage themselves.
A&A

Bramwell’s Lunch Beat: ‘Repatriation Rainbow’ Won’t Yield Pot of Gold for Highway Fund

The menu for June 12 features specials on no evidence found that Phil Mickelson traded Clorox shares, EY and Grant Thornton get reprimanded by PCAOB, FBI returns database with taxpayer info, and more.

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