Year-End Tax Planning
While it may be difficult to get you clients' attention during the busy holiday season, it can be well worth their time. Here are five things to talk to clients about before this year ends:…
Take News of Identity Theft Schemes Very Seriously
As we prepare to step into another tax season, it serves us well to take stock of our security measures and how we keep our data safe and secure. Let’s face it: the line between being a target and merely an observer of identity theft is being more blurred all the time.…
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Tax Year 2016 Desk Reference Guide
Keeping pertinent information handy is essential to maintaining an efficient, well-organized workspace. Make sure to get your copy of the Tax Year 2016 Desk Reference Guide from Drake Software, so you can confidently face the frenetic pace of tax season.…
Health Care-Related Tax Responsibility
The Internal Revenue Service recently suggested that taxpayers consider checking their eligibility for health care-related tax exemptions. Taxpayers who plan their finances around a refund check may be better able to budget during tax season by researching their options before January 23, 2017.…
IRS Releases 2017 Standard Mileage Rates
Declining energy prices have apparently made their mark on the rates used to figure deductible costs of operating a vehicle for business, medical or moving purposes. The Internal Revenue Service has shaved those rates, beginning January 1, 2017.…
Time is Running Out for Some ITIN Holders
The Internal Revenue Service is urging people with an ITIN expiring January 1, 2017 – those that have not been used to file a return in the past three years or with middle digits 78 or 79 – to renew so they avoid delays in processing their return or receiving a refund.…
Senate Action Draws Praise from Business Group
This week the Senate passed legislation that eliminates the IRS’ tax penalty on employers who reimburse workers for the cost of health insurance premiums. A similar measure was passed in the House last week.…
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Scammers Turning up the Heat on Taxpayers
Apparently the Internal Revenue Service and tax professionals aren’t the only ones getting ready for income tax season. Scammers and identity thieves are getting busy as well, hitting taxpayers – and…
IRS Announces the First Day of Tax Season, Issues Refund Delay Reminder
Tax professionals across the country are gearing up for tax season, which the Internal Revenue Service today announced will officially begin on January 23, 2017. The press release included yet another reminder about PATH Act-delayed refunds: taxpayers claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) will not have their refund issued until February 15, 2017.…
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When That Call from the IRS Isn’t
It always seems to happen when you’ve just settled down for dinner. You get a phone call out of the blue and the man on the other end of the line says he’s Agent Such-and-Such from the Internal Revenue Service, Badge number something-or-Other.…
