A little-noticed tax change could have a major tax impact on business clients who own and operate restaurants or other establishments that commonly add automatic gratuities to the bills of large parties.
David Haigler, who pleaded guilty in US District Court for the Middle District of Alabama September 5, 2013, to one count of theft of public funds and to one count of passing US Treasury checks with forged endorsements, faces twenty years in prison.
The US Department of the Treasury and the IRS on August 30, 2013, ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes.
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.
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.
A former Washington State real estate developer and his long-time girlfriend were convicted August 4 on twenty-five counts of tax evasion and false statements related to their scheme to avoid paying taxes on more than $23 million in income.
A subcommittee of the House Oversight and Government Reform – the same committee that's investigating alleged wrongdoings regarding tax-exempt applications of Tea Party and other conservative groups – warned that the IRS has to improve its efforts to thwart identity theft issues.
Before leaving for its August recess, the US House of Representatives on August 2 passed a bill that would prohibit the IRS from implementing or enforcing the Affordable Care Act, also known as Obamacare.
Because seventeen states and the Virgin Islands have had an outstanding federal unemployment insurance loan for at least two years, employers in those jurisdictions may not be able to claim the maximum amount of state unemployment tax credits on their 2013 FUTA tax return.
If your clients have workers they consider to be independent contractors, you may want to drill down to ensure they are classifying them correctly and they're not actually employees in the eyes of the government.