Tax legislation moves forward before Congress’ August recess
As Congress August recess nears, lawmakers are moving tax
legislation for individuals and businesses. Bills targeted to tax
reform, small business tax relief, and more have been introduced
and are wor...
IRS offers guidance on taxation of phased retirement payments
Phased retirement has become an increasingly popular trend lately.
Along with its increased use, however, a number of questions have
arisen. The IRS recently has issued guidance for determining the
Recent tax changes reflected in new IRS statistics
The IRS recently released its Spring 2016 Statistics of Income
(SOI) Bulletin containing a treasure-trove of useful information.
The bulletin contains data gleaned from more than 148 million
FAQ: How does the suspension of the ACA medical device excise tax impact compliance?
The Affordable Care Act (ACA) imposed an excise tax on the sale of
certain medical devices by the manufacturer or importer of the
device. The tax is 2.3 percent. Under the ACA, the excise tax was
How do I: Get an extension of time to change a method of accounting?
A taxpayer changing its method of accounting must either request
advance IRS consent or apply for automatic IRS consent on Form
3115, Application for Change in Accounting Method, to make the
July 2016 tax compliance calendar
As an individual or business, it is your responsibility to be aware
of and to meet your tax filing/reporting deadlines. This calendar
summarizes important federal tax reporting and filing data for