Liz Cheney – US Senate candidate and daughter of Dick Cheney – and her husband, Philip Perry, missed their property tax payment in 2012. Earlier that year, they bought a four-bed, four-bath home in an upscale part of Jackson Hole, Wyoming.
There's nothing new about governments trying to use tax as behavior modification. They've been doing it forever. Now the behavior being targeted in some areas of the country is the choice at the grocery store of "paper or plastic."
A surprising number of Americans living abroad are giving up and saying "uncle" to Uncle Sam. In quarter two of 2013, more Americans – 1,130 – renounced their citizenship than in all of 2012. That's in addition to 679 in the first quarter.
Small businesses may already be eligible for a special tax credit for providing health insurance. After issuing guidance on the credit in the form of several notices the past few years, the IRS has now released new proposed regulations summarizing the rules.
Groups in sixteen states already held or are holding events later this week to demand that Congress close corporate tax loopholes in order to help avoid more deep cuts to essential benefits and services.
Americans who currently purchase their own health insurance through the individual market would receive tax credits averaging nearly $2,700 next year for coverage purchased through new insurance marketplaces under the Affordable Care Act (ACA).
On August 14, Joe and Teresa Giudice appeared in US District Court to enter pleas of not guilty through their attorneys. They didn't speak at all, but a reporter in the courtroom said that at one point, Teresa mopped sweat off her husband's brow.
The IRS is moving forward in its efforts to provide more leeway under the "innocent spouse" rules. On August 12, the IRS proposed a permanent extension of the rule allowing taxpayers up to ten years to apply for equitable relief.
Mark Goldberg, a Bronx-based tax preparer, pled guilty to charges related to his participation in a scheme to file fraudulent tax returns on behalf of numerous clients, falsely claiming more than $7 million in bogus deductions, including school tuition credits and expenses.
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.