Tax Breaks Slide in Under the Wire!

Tax Breaks Slide in Under the Wire! With less than two weeks to go in 2015, Congress gave both business owners and individual taxpayers a wonderful holiday surprise by passing an important piece of tax legislations. The PATH (Protecting Americans from Tax Hikes) Act, which was signed into law on December 18th, reinstated many important … [Read more…]

International Data Exchange Service

International Data Exchange Service Bolsters FATCA The International Data Exchange Service (IDES) is an electronic delivery system that allows both financial institutions and tax authorities in host countries to exchange FATCA data with the Internal Revenue Service. If predictions hold true, this new data exchange system, which went into effect in January of this year, will greatly enhance … [Read more…]

IRS – Opening Date for Tax Season 2015

IRS – Opening Date for Tax Season 2015 – In spite of the fact that the tax extenders bill, a major piece of tax legislation, was passed just weeks before the end of the year, the Internal Revenue Service has announced that there will be no delay to the opening of the 2015 tax season. … [Read more…]

Are Business Taxes Too High?

Are Business Taxes Too High? Are Business Taxes Too High? The debate continues between those who think that the United States corporate tax rate is too high and those who think that it is in line with the average corporate tax rate for other countries. Although it is unlikely that a major tax reform bill … [Read more…]

Business Tax News -Corporate Tax Inversions!

    Business Tax News -Corporate Inversions on the Rise-  In order to escape a 35% corporate tax rate, more and more United States companies are taking steps to move their headquarters offshore. While such a move, called an inversion, does not lower a company’s business tax rate on income earned within the United States, … [Read more…]

Small Business Tax Breaks in the News

Small Business Tax Breaks in the News -This past Tuesday, the House Ways and Means Committee voted to extend six of the more than 60 small business tax breaks that expired on January 13, 2013. Although most analysts assume that the proposal will not be bought up for consideration by the House of Representatives for … [Read more…]

Tax Notifications and Updates for 2014

This article discusses Tax Notifications and Updates for 2014:          Postponement of Filing Date    Taxpayers are still feeling the effects of the federal government shutdown which lasted for 16 days in October. According to the IRS, January 31st is the earliest date that the agency will begin processing individual tax returns, a postponement … [Read more…]