This week signals the end of 2015 and start to a new year. For business owners, and individuals alike, this time of year is often dominated by planning and making resolutions for the upcoming year. While taxes and tax planning may not even be on your radar, it’s...
Month: December 2015
IRS given power to revoke passports of delinquent taxpayers
In addition to costly fines and penalties and the threat of possible time behind bars, the Internal Revenue Service just gave taxpayers another motivating reason to pay their taxes one time. Earlier this month, members of the U.S. Congress passed a major highway and...
Tax preparers and taxpayers responsible for ensuring tax return is accurate
Many small business owners and individual taxpayers rely upon the advice and assistance of independent tax preparers. In recent years, the Internal Revenue Service has taken steps to regulate the tax preparer industry and now requires that all independent tax...
For those feeling charitable, the IRS has rules about deducting donations
Tax-savvy individuals and business often seek out legitimate ways to reduce their tax liabilities. One of most common and effective ways to decrease the amount of money you'll be forced to shell out to Uncle Sam is to take advantage of year-end gifts to charity. It's...