News / General Business

IRS Warns About New Variations On Long-Running Tax Scams

Source: forbes.com - Jun 12, 2019

It may be summertime, but that doesn’t mean that scammers are on vacation. The Internal Revenue Service (IRS) is encouraging taxpayers to be on the lookout for a “surge of evolving phishing... Read more >

Category: General Business

Four ways to get the most out of your 529 college savings plan

Source: cnbc.com - Jun 10, 2019

Tax-favored 529 savings plans allow families to manage the cost of higher education, yet few people understand how they operate. May 29 marks 529 College Savings Plan Day, shining a spotlight on a... Read more >

Category: General Business

How to reduce your tax bill if you're self-employed

Source: lancasteronline.com - Jun 10, 2019

Whether you do contract work or have your own small business, tax deductions for the self-employed can add up to substantial tax savings. With self-employment comes freedom, responsibility, and a... Read more >

Category: General Business

Warning: College Scholarships May be Subject to Income Tax

Source: blackenterprise.com - Jun 10, 2019

Did you or someone you know receive a scholarship? Congratulations! Now, double check the details of your scholarship proceeds to ensure it doesn’t turn into a major tax liability later. The Tax... Read more >

Category: General Business

Bill to ask voters to allow tax relief for New Orleans property owners clears Legislature

Source: theadvocate.com - Jun 7, 2019

New Orleans residents who are tired of seeing their property taxes rise might want to pay attention to the Oct. 12 ballot. The Legislature has agreed to allow voters statewide to decide whether to... Read more >

Category: General Business

Alberta Repealed Its Carbon Tax. What Now?

Source: forbes.com - Jun 7, 2019

Alberta repealed its highly controversial provincial carbon tax this week, and so it is a good moment to think about what this may portend for pricing carbon more generally. In many areas of law,... Read more >

Category: General Business

AOC, Warren closer to goal of IRS doing your taxes for you

Source: foxbusiness.com - Jun 7, 2019

Massachusetts Democratic Opens a New Window. Sen. Elizabeth Warren and New York Democratic Rep. Alexandria Ocasio-Cortez might be one step closer to their wish that, one day, the IRS will fill out... Read more >

Category: General Business

Nina Olson: The Softer Side of the IRS

Source: kiplinger.com - Jun 7, 2019

Since 2001, Nina Olson, the IRS’s national taxpayer advocate, has been on a mission: to make sure taxpayers’ rights are protected when they’re up against a government agency that many... Read more >

Category: General Business

Lawmakers back excluding medical marijuana from sales taxes, redirecting fees to disabled

Source: theadvocate.com - Jun 6, 2019

Lawmakers have backed several changes to the state’s taxes and fees on medical marijuana, passing a bill that excludes the drug from sales taxes and redirects fees to disability services. The... Read more >

Category: General Business

Understanding the taxes you owe when buying a home

Source: washingtonpost.com - Jun 6, 2019

Q: I am trying to find out about the real estate taxes on the home I bought just about two years ago. How much of the taxes am I responsible for since I purchased the home? A: Well, to put it... Read more >

Category: General Business

Shakira appears before Spanish judge in $16.4 million tax evasion case

Source: cbsnews.com - Jun 6, 2019

Shakira's public relations firm says the Colombian pop musician has denied any wrongdoing when she testified before a judge as part of an investigation into her alleged tax evasion in Spain.... Read more >

Category: General Business

MAYOR CANTRELL ANNOUNCES ‘AMNESTY LATE FEE FORGIVENESS’ PLAN TO CLEAR SOME PAST-DUE ACCOUNTS

Source: nola.gov - Jun 6, 2019

NEW ORLEANS – Mayor LaToya Cantrell and the City of New Orleans’ Department of Finance, today announced the launch of the three-month Amnesty Late Fee Forgiveness Program for residents to take... Read more >

Category: General Business

Bookkeeper admits to helping CT restaurant owner evade taxes

Source: ctpost.com - Jun 5, 2019

A bookkeeper, and New York resident, pleaded guilty Tuesday for her role in helping a Connecticut restaurant owner evade federal taxes, the state Department of Justice said. Idalecia Lopes Santos,... Read more >

Category: General Business

'Jeopardy James' will likely have to pay $1.2M in taxes

Source: nbcnews.com - Jun 5, 2019

“Jeopardy” champion and professional sports bettor James Holzhauer lost in his 33rd episode of the TV game show, which aired on Monday, finishing $58,484 short of the all-time winnings record.... Read more >

Category: General Business

IRS to Stop Faxing Tax Transcripts, Takes Other Security Measures

Source: cpapracticeadvisor.com - Jun 5, 2019

As part of its ongoing efforts to protect taxpayers from identity thieves, the Internal Revenue Service will stop its tax transcript faxing service in June and will amend the Form 4506 series to... Read more >

Category: General Business