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CRS outlines income tax impact of Supreme Court’s DOMA decision
A Congressional Research Service (CRS) Report has provided an overview of the potential federal income tax implications for same-sex married couples of the decision in U.S. v. Windsor, (Sup Ct…
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Washington Alert-Part I
…IRS has announced the launching of its new Affordable Care Act Tax Provisions website. (IRS Health Care Tax Tips 2013-01) The information on the site pertains to individuals and businesses,…
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Washington Alert-Part I
…IRS has issued a new warning to taxpayers to be on the alert for three prolific tax scams that top the agency’s list of the “Dirty Dozen” scams. (IRS Summertime…
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Washington Alert-Part II
…IRS has offered 10 tax tips for taxpayers who plan to sell their home this year. (IRS Tax Tip 2013-24) “Even if you make a profit from the sale of…
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Inflation-adjusted 2014 figures for health, charitable, compliance and special entity items
A number of tax figures are adjusted each year for inflation based on the average Consumer Price Index (CPI) for the 12-month period ending the previous Aug. 31. The Aug.…
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Inflation-adjusted 2014 figures for transfer tax and foreign items
Using the CPI for Aug. 2013 (and the preceding 11 months), RIA calculated and reported in a separate article (see ¶ 17) the increases for 2014 to the break points…
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CRS report: what would happen if Social Security funds ran out?
A new study by the Congressional Research Service (CRS) contains recent information on when Social Security trust funds are projected to be exhausted, the relevant law that would apply if…
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Year-end planning: Timing of charitable gifts, and type of property contributed, can be important
Charitable contributions should be timed so as to obtain the maximum tax benefits, either in 2013 or 2014. If a taxpayer plans to make a charitable contribution in 2014, he…
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Draft instructions to 2013 exempt org return contain several changes
IRS has issued a draft of the 2013 Form 990, Return of Organization Exempt From Income Tax, and draft instructions for that form. While the form itself is virtually identical…
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Year end tax planning client letter
Year-end tax planning could be especially productive this year because timely action could nail down a host of tax breaks that won’t be around next year unless Congress acts to…
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