IRS

The House has approved a tax package, the Protecting Americans from Tax Hikes Act of 2015, that will make some tax extenders permanent. Both the Senate and the White House have indicated support for the bill, and news analysts expect it to become law before Christmas. As a result, for the first time in acontinue reading…

The holidays may not be the most wonderful time of the year for a business that is unfamiliar with corporate gift laws. The IRS has tried to make the rules about business gifts straightforward, but there are other laws, like the foreign Corrupt Practices Act, that make it all more complicated. Some tax professionals suggestcontinue reading…

If you thought the Internal Revenue Service was being a little overzealous in its implementation of the Offshore Voluntary Disclosure Program, take a second look at the results. Since 2009, the IRS said recently, more than 54,000 taxpayers had reported foreign assets that they had not reported before. Those filings mean an additional $8 billioncontinue reading…

If you or one of your dependents is heading back to school this year, remember that there are tax deductions and credits that may soften the blow of tuition, expenses and fees. Perhaps the most familiar is the tuition and fee deduction “tax extender” that is perpetually in jeopardy. As you may recall, this andcontinue reading…

It can be a sad day in Minnesota when summer ends. The official end to summer, the autumnal equinox, came early this morning, according to Almanac.com. The exact date of the unofficial end of summer has been the subject of some debate. Generally, Labor Day marks the end of flip-flops and the return to seriouscontinue reading…