The Debt Forgiveness Act, originally passed by Congress in 2007 to give tax relief to homeowners who lost their homes to short sale or foreclosure, expired on New Year’s Day 2014. As a result, […]
From the 'Taxation' Category:
The holiday celebrations are now done, 2014 is here and it’s time to make sure all the tax related items are properly addressed…but what are they? Here’s a list of five key items to […]
The IRS will begin accepting paper and electronic tax returns on January 20, 2015 for the 2014 tax year. Until recently, it was uncertain whether or not this would be delayed into late January […]
As the Holiday season reaches full swing and the Tax Year draws to a close, thoughts often turn to more cheerful thoughts than taxes. But now is the time to make last minute adjustments […]
The IRS recently announced the new mileage rates for 2014: 56 cents per mile for business miles driven 23.5 cents per mile driven for medical or moving purposes 14 cents per mile driven in […]
Tax credits and deductions have become an important part of the tax code and a significant benefit to many tax payers. Some credits, like the investment credit for business in American Samoa, are rarely […]
If you’re selling your primary residence, here are a few things to keep in mind. If you lived in your home for at least two of the last five years, and make a profit […]
If you’re a small business, the IRS has decided you may be hiding income. According to the IRS tax gap study released in 2012, the U.S. Treasury loses $376 billion each year due to […]
Every year the IRS updates its computer systems in preparation for the next tax year’s returns. Rules change, processing and technology updates are implemented and new tax laws are reduced to policy and imbedded […]
Well, the showdown at Capitol Hill is officially over. Congress has approved a temporary measure to extend the debt ceiling through February 7, 2014 and fund government operations until January 15, 2014. Congress and […]