Month: March 2014

The 1031 Exchange Blog

Taxpayers owning rental property acquired in a 1031 exchange may convert the property from a rental to their primary residence. When the decision is made to [...]

More than Half of all Income Tax Returns Have Been Received. IRS Issues Publication on Business Expenses

WASHINGTON — With the tax deadline getting closer, the IRS has received more than half of all the returns it expects to receive during 2014, the agency [...]

IRS Has $760 Million for People Who Have Not Filed a 2010 Income Tax Return

WASHINGTON — Refunds totaling almost $760 million may be waiting for an estimated 918,600 taxpayers who did not file a federal income tax return for 2010, [...]

Can Interns Who Agreed To Work For Free Sue For Wages?

Like ugly ducklings, will unpaid interns emerge as (Black) Swans? A series of lawsuits–including one by interns who worked on the Black Swan movie–is [...]

Do You Want A 1099 Or A W-2?

Asked another way, “independent contractor or employee?” It seems like such a simple question. As we approach year-end, companies and workers everywhere [...]

7 Crippling Mistakes With Form 1099 That Cost Big

It’s Form 1099 season, and companies big and small are churning them out. If you’re in business–even as a sole proprietor–you need to pay attention [...]

IRS Can Audit You Forever, But Key Steps Can Prevent It

Even a routine tax audit can be expensive and nerve-wracking. So if the IRS statute of limitations has expired, it can be a trump card. The IRS normally has [...]

IRS watchdog warns of ‘largest scam of its kind’ with agency impersonators

The Internal Revenue Service watchdog on Thursday warned taxpayers of a sophisticated nationwide phone scheme that has become “the largest scam of its kind [...]

9 Surprising Things That Are Taxable

If you work for a living, you know that your wages are taxable, and you’re probably aware that some investment income is taxed, too. But the IRS doesn't stop [...]

How Taxpayers Are Affected By 2014 IRS Budget Agreement

How Budget Cuts Affect Taxpayers The 2014 Omnibus Appropriation Bill–the piece of legislation that is responsible for allocating funding for the entirety [...]