Tax news

Tax

Colorado Marijuana Taxes Helping the Bottom Line

Colorado's Department of Revenue finds that legal drug dealing can be quite lucrative, as the sales and excise taxes on retail marijuana sales roll in.
Tax

Survey: Tax Reform Strikes Out in 2014

All 129 business tax executives surveyed recently by law firm Miller & Chevalier and the National Foreign Trade Council believe tax reform is unlikely this year. However, 77 percent think the package of tax breaks that expired at the end of 2013 will be extended by Congress.
Tax

NFL vs. Cleveland Tax Authorities: 3rd Down

Two football players continue to try to make their case that the city of Cleveland improperly taxed their income.
Tax

Bramwell’s Lunch Beat: Koskinen’s 15-Second Decision

Here are “Bramwell’s Lunch Beat” menu items for March 10.
Tax

IRS Is Handing Out Bigger Refunds This Year

Tax refunds are up, as the IRS computers pull the Service ahead of last year's numbers.
Tax

The Lowdown on Tax Audits

New IRS guidance and various studies explode some myths on the dreaded tax audit and give hints on who gets audited and why.
Tax

Why Enhancing the Earned Income Credit Is a Bad Idea

The EIC may be designed to help the poor, but it is causing nothing but headaches for tax preparers caught in the middle.
Tax

IRS Would Receive More Funding in Obama’s 2015 Budget

A proposed fiscal year 2015 budget released by President Obama yesterday would provide the IRS with $12 billion in base funding, up 6.3 percent over the 2014 enacted level. The budget would also allot $165 million to improve IRS customer service.
Tax

Bramwell’s Lunch Beat: Lois Pleads the Fifth at Hearing

Here are “Bramwell’s Lunch Beat” menu items for March 5.
Tax

Tax Returns Keep Rolling In to the IRS

The IRS noted last Thursday that, as of February 21, it has received nearly 49.6 million individual income tax returns – about one-third of the amount the nation’s tax-collection agency projected before the start of the 2014 filing season on January 31.
Tax

Bramwell’s Lunch Beat: Will IRS Pare Back 501(c)(4) Rules?

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

Bramwell’s Lunch Beat: Gamers Bash Camp Tax Proposal

Here are “Bramwell’s Lunch Beat” menu items for February 27.
Tax

Reactions Varied on Tax Reform Plan

As you might expect, there were plenty of opinions from business groups, corporations, and legislators about the tax reform plan unveiled by House Ways and Means Committee Chairman Dave Camp (R-MI) yesterday. Views ranged from overwhelming support to staunch opposition.
Tax

Here It Is … Dave Camp’s Tax Reform Discussion Draft

House Ways and Means Committee Chairman Dave Camp (R-MI) this afternoon released his much-anticipated tax reform plan, the Tax Reform Act of 2014. If you want to read all 979 pages of it, you can download it here.
Practice

It’s Not Too Late to Make Tax Season Less Taxing

Busy season has begun, but most CPAs likely have not reached that stage of eighty-hour workweeks and gallons of coffee. It’s still early enough to make a few adjustments to your processes and client management strategies to avoid excess stress.
Tax

Bramwell’s Lunch Beat: Tomorrow Is Camp’s Big Day

Here are “Bramwell’s Lunch Beat” menu items for February 25.
Tax

AICPA Sends Array of Legislative Tax Proposals to Congress

In a February 19 letter sent to the top tax legislators in Congress, the American Institute of CPAs (AICPA) outlined a set of proposals that would simplify or make technical corrections to the nation’s tax code.
Tax

Bramwell's Lunch Beat: The Fixes Are in for FATCA

Here are “Bramwell’s Lunch Beat” menu items for February 21.
Tax

Bramwell’s Lunch Beat: A Six-Year-Old’s Letter to the IRS

Here are “Bramwell’s Lunch Beat” menu items for February 20.
Tax

Identity Theft Tops IRS ‘Dirty Dozen’ List of Scams for 2014

For the third straight year, identity theft heads the IRS’s list of the top twelve scams taxpayers should be wary of during tax season.

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