Obama Threatens to Veto Tax Extenders
As attempts to wrap up permanent tax-break extensions for corporations, college students and residents of states without income taxes were in progress. Obama stepped in and voiced his concern that these proposed tax extensions would not benefit low-income families at...
Ebola Chartity and Expense Tax Breaks
President Obama finally addressed the public stating that the Ebola Virus outbreak in West Africa is a public health emergency,a humanitarian crisis, and a national security priority. His belief is in order to keep us safe here at home, we need to stop it at the...
Tax Tools for Your Clients
Here are a few tools that your clients may or may not fully comprehend. If you can help them understand the possible benefits then they may be able to do some of this research themselves and know what to do to better their tax future. Contributions to 401K –...
Clarification from IRS on Mass Transit Passes
The Internal Revenue Service has released a new revenue ruling on mass transit passes provided as fringe benefits to employees, how they are paid for and/or reimbursed. Reveue Ruling changes what the IRS’s earlier guidance on employee qualified transportation...
IRS 1040 E-File Shutdown/Cutover Schedule
The shutdown is coming earlier this year in order to make preparations for reprogramming the 2015 tax season. Note that acknowledgments may be delayed slightly, so you will want to watch these dates to make sure you receive them before they are no longer available....
Possible Delay to Tax Season Looms
Oh no, not another possible delay coming for the 2015 tax year. The IRS commissioner John Koskinen has warned congress that if they don’t make decisions on how to proceed with more than 50 expired tax provisions there could be a delay the soon to come tax season, as...
It’s PTIN Time!
The IRS has announced that you can now renew and apply for your 2015 Preparer Tax Identification Number (PTIN)! You may login to the IRS Online System here and renew, apply or update your current account information. Will also have the ability to receive alerts from...
Tax Preparers Ain?t Got Time For That!
Remember the phrase “Ain’t nobody got time for that?” Well, once tax season starts, one thing tax preparers really don’t have time for is getting sick! How many times have your clients come into your office in a less than healthy state? If you are anything like me you...