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Washington Alert-Part II
…Under current conditions and taking into account available tax credits, purchasers of electric vehicles will face lifetime costs that are generally higher than those of conventional vehicles of comparable size…
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CRS lists tax provisions due to lapse at year’s end
A new Congressional Research Service (CRS) report lists the temporary tax provisions (i.e., “tax extenders”) currently set to expire at the end of 2013. “Tax extenders” defined. The Code presently…
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Administration postpones employer health care reporting and mandate payments until 2015
The Administration announced on the White House and Treasury websites that it will provide an additional year, until Jan. 1, 2015, before the Affordable Care Act’s (ACA’s) mandatory employer and…
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Washington Alert-Part I
…IRS published on July 3 a list of five basic tips regarding federal tax responsibilities for those who intend to establish a new business. The tips include the following: decide…
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IRS statistics show how corporations are faring
2010 Statistics of Income: Corporate Income Tax Returns IRS has recently released a Statistics of Income (SOI) Tax report based on corporate income tax returns for the 2010 tax year…
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CRS analyzes bonus depreciation and expensing election provisions
The Congressional Research Service (CRS) has released a report (RL31852, July 15, 2013) that examines two popular tools for stimulating the economy-Code Sec. 168(k) first-year bonus depreciation and the Code…
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Washington Alert-Part I
…IRS has posted on its website Publication 5093, “Healthcare Law Online Resources.” (e-News for Tax Professionals 2013-29) The publication is divided into two sections containing links to various government entities.…
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Washington Alert-Part II
…IRS’s Taxpayer Protection Program unequivocally improves identity theft detection, the Treasury Inspector General for Tax Administration (TIGTA) said in a recent audit. (Audit Report No. 2013-40-062) As described in the…
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Washington Alert-Part I
…A taxpayer who owns a vacation home that he or she rents to others “generally must report the rental income” on a federal income tax return, IRS has reminded taxpayers.…
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Washington Alert-Part I
… The Obama administration on Aug. 1 launched what it described as a “one-stop-shop” website aimed at providing employers educational materials related to the Affordable Care Act. The site includes…
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