If you were married or divorced recently, there are a couple of things you’ll want to do to ensure the name on your tax return matches the name registered with the Social Security Administration. Here are five facts from the IRS for recently married...
IRS Issues Proposed Regulations Adjusting Use of Some Taxpayer Information WASHINGTON — The Internal Revenue Service today announced the issuance of proposed and temporary regulations and related revenue rulings addressing the use or disclosure of tax return information by tax return preparers. The regulations and related revenue...
Wall Street Journal op-ed, Are Taxes the Root of Unhappiness? States with the Highest Taxes Also Rank as the Unhappiest, by Allysia Finley (Assistant Editor, opinionjournal.com): Does living in a blue state make people blue? It seems so, according to a new study in Science magazine...
Christopher C. Anderson (J.D. 2010, Illinois) has published Note, Patents on Tax Strategies: Just Another Harmless Subject, 2009 U. Ill. L. Rev. 1591. Here is the abstract: This Note analyzes the subject matter eligibility of patents on tax strategies. In 2003, the United States Patent and...
Should you convert your taxable retirement account to a tax-free Roth individual retirement account and how should you deal with the uncertainty over the estate tax? ROTH CONVERSION Starting in 2010, there will no longer be an income limit for Roth I.R.A.’s, which allow people to...
Brush up on EITC law changes and your due diligence responsibilities with the new online training module and other materials in the updated tax preparer toolkit you may even get CPE credits....
IRS Commissioner Douglas Shulman said the agency would focus more of its efforts on closely scrutinizing transfer pricing arrangements that allow U.S. companies to avoid taxes on income earned abroad, as well as conduct joint audits with tax authorities in other countries. Shulman said the IRS...
In today’s economy, small-business owners sometimes look to the oldest form of commerce — the exchange of goods and services, or bartering. The Internal Revenue Service wants to remind small-business owners that bartering transactions generally have associated tax reporting, accounting and record-keeping responsibilities. Bartering is the...
WASHINGTON — Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in recent years. Some of these changes include the following: Special Charitable Contributions for Certain IRA Owners This provision, currently scheduled to expire at...
The Tax Court yesterday allowed a nurse to deduct the cost of an M.B.A. degree from the University of Phoenix. Singleton-Clarke v. Commissioner, T.C. Summ. Op. 2009-182 (Dec. 2, 2009) (citations omitted): Petitioner began taking courses at the University of Phoenix in March 2005, graduating...
