Month: June 2015

Why Your Company May Be Paying Too Much Tax

Many business owners misunderstand the importance and value of tracking all their expenses. This year, when a Liberty Tax tax preparer in North Carolina [...]

Interest Rates Remain the Same for the Third Quarter of 2015

WASHINGTON — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning July 1, 2015. The [...]

Top 10 Tips for Deducting Losses from a Disaster

the IRS wants you to know it stands ready to help. If you suffer damage to your home or personal property, you may be able to deduct the losses you incur on [...]

Preparing for a Disaster (Taxpayers and Businesses)

Planning what to do in case of a disaster is an important part of being prepared. The Internal Revenue Service encourages taxpayers to safeguard their records. [...]

How To Play Catch-Up For Retirement At 50 Or Older

Are you farther along in your career than you are in your retirement planning? If so, you’re not alone: 42% of people in their 50s surveyed for a recent [...]

Casinos Worried about IRS Proposal to Change Rules for Reporting Gambling Winnings

A trade association representing the casino industry is sounding the alarm over proposed regulations from the Internal Revenue Service that would lower the [...]

IRS Issues New Guidance on FBAR Penalties

The Internal Revenue Service has released new guidance on penalties for failing to file a foreign bank account report, capping the maximum percentage of the [...]

Expanded IRS online services put taxpayer information at risk, Senate committee told

By expanding its online services, the IRS is putting taxpayers’ data at greater risk, the Treasury Inspector General for Tax Administration told Congress on [...]

IRS Says If You’re Willful, Penalties Hit 100%, $10,000 If You’re Not

What’s an FBAR? Now called FinCEN Form 114, an FBAR is a non-U.S. bank account report. If you have non-U.S. bank accounts that aggregate over $10,000 at any [...]

R&D tax credit developments on internal-use software

Just what qualifies for inclusion in the Sec. 41 research and development (R&D) credit has been a source of many disagreements between the IRS and taxpayers [...]