New Payment Card Reporting Requirements – FAQ
What is section 6050W of the Internal Revenue Code? Section 6050W was added by section 3091 of the Housing Assistance Tax Act of 2008 and requires information returns to be made by certain payors...
Accounting Portal Articles
2012 Tax Benefits Increase Due to Inflation Adjustments
For tax year 2012, personal exemptions and standard deductions will rise and tax brackets will widen due to inflation. By law, the dollar amounts for a variety of tax provisions, affecting virtually every taxpayer,...
PTIN Renewals for 2012 Filing Season
The Internal Revenue Service announced that the nation’s 738,000 tax return preparers who have Preparer Tax Identification Numbers (PTINs) can now renew their PTINs for the 2012 filing season. Preparers are required to renew...
Sales Tax Deduction Calculator
To figure the amount of optional general sales tax you are eligible to claim, just answer a few online questions and the system does the rest. First select the tax year for which you...
Free Payroll Calculator
Free Payroll Calculator
Federal Unemployment Tax (FUTA)
The Federal Unemployment Tax Act (FUTA), with state unemployment systems, provides for payments of unemployment compensation to workers who have lost their jobs. Most employers pay both a federal and a state unemployment tax....
CPA Examination Tutorial and Sample Tests
CPA Examination Tutorial and Sample Tests
CONTENT AND SKILL SPECIFICATIONS FOR THE UNIFORM CPA EXAMINATION
CONTENT AND SKILL SPECIFICATIONS FOR THE UNIFORM CPA EXAMINATION
Form I-9 (Employment Eligibility Verification)
Form I-9 (Employment Eligibility Verification) The purpose of this form is to document that each new employee (both citizen and noncitizen) hired after November 6, 1986, is authorized to work in the United States.
SEC Financial Reporting Manual
SEC Financial Reporting Manual
Household Employer’s Tax Guide
Publication 926 – Introductory Material What’s New Reminder Introduction Tax questions. Publication 926 – Main Content Do You Have a Household Employee? Can Your Employee Legally Work in the United States? Do You Need...
Household Workers: Social Security, Medicare, W-2,
If you hire someone to work in your home, such as a cleaning person, a cook, a gardener or a baby sitter, both you and your employee should know about paying Social Security and...
2011 Tax Scams
Hiding Income Offshore The IRS aggressively pursues taxpayers involved in abusive offshore transactions as well as the promoters, professionals and others who facilitate or enable these schemes. Taxpayers have tried to avoid or evade...
Surviving Spouses to Benefit from Portability Election; Estate Tax Return Required to Make this Choice For Some, Form 706 Due as Early as Oct. 3
IR-2011-97, Sept. 29, 2011 The Internal Revenue Service reminded estates of married individuals dying after 2010 that they must file an estate tax return to pass along their unused estate & gift tax exclusion...
Electing Portability of Deceased Spousal Unused Exclusion Amount
1 If the executor of the estate of a decedent dying after December 31, 2010, intends to make the portability election to allow the decedent’s surviving spouse to use the deceased spousal unused exclusion...
IRS Tax Calendar 2011
IRS Tax Calendar 2011 Tax Calendar for Small Business
Claiming the Small Business Health Care Tax Credit
Many small employers that pay at least half of the premiums for employee health insurance coverage under a qualifying arrangement may be eligible for the small business health care tax credit. This credit can...
TIGTA Finds Inaccurate Preparation of Tax Returns at Volunteer Tax Preparation Sites
Fewer tax returns are being prepared accurately at the Volunteer Program sites sponsored by the Internal Revenue Service (IRS), according to a new report by the Treasury Inspector General for Tax Administration (TIGTA). TIGTA...
President Obama Signs America Invents Act
September 16, 2011 Key Elements of America Invents Act The America Invents Act was passed with the President’s strong leadership to move this bill forward, after nearly a decade of legislative efforts. It reflects...
Equal Access to Tax Planning Act
Equal Access to Tax Planning Act – Deems any strategy for reducing, avoiding, or deferring tax liability insufficient to differentiate a claimed invention from the prior art when evaluating specified conditions of patentability under...