News

Obama urges doubling tax credit for low-income childless workers

Source: reuters.com - Feb 13, 2016

Feb 9 U.S. President Barack Obama on Tuesday proposed expanding the earned income tax credit (EITC), which helps low-income taxpayers, to give a bigger boost to childless people. Some Republicans... Read more >

Category: IRS

The IRS Says Identity Thieves Hacked Its Systems Again

Source: fortune.com - Feb 11, 2016

Identity thieves attempted to breach computer systems at the Internal Revenue Service to file fraudulent tax refunds. The criminals were especially after E-file PINs, which are used by some... Read more >

Category: General Business

IRS computer problems shut down e-file system

Source: usatoday.com - Feb 4, 2016

The Internal Revenue Service suffered a "hardware failure" on Wednesday afternoon, which left many of its tax processing systems unavailable Wednesday night, the agency announced in a statement.... Read more >

Category: IRS

California Taxes Will Eat Up All Of Cam Newton's Super Bowl Earnings

Source: forbes.com - Feb 3, 2016

Remember when Peyton Manning paid New Jersey nearly $47,000 in taxes two years ago on his Super Bowl earnings of $46,000? Manning has nothing on the state taxes facing Carolina Panthers quarterback... Read more >

Category: IRS

New Tax Fraud Safeguards May Mean Delays in Getting Refunds

Source: nbcnews.com - Jan 25, 2016

The IRS, state authorities and the tax preparation industry have joined together to combat identity thieves rushing to file their bogus state and federal returns in your name while you're still... Read more >

Category: IRS

9 tax increases Gov. John Bel Edwards proposes for Louisiana consumers

Source: nola.com - Jan 25, 2016

Nine of the items included in Gov. John Bel Edwards' menu of tax options released earlier this week would affect consumers, rather than the corporate community, and are meant to go into effect as... Read more >

Category: Louisiana

John Bel Edwards proposal would push Louisiana's average sales tax rate to highest in the country

Source: nola.com - Jan 22, 2016

Louisiana would have the highest combined state and average local sales tax rate in the country if Gov. John Bel Edwards' proposed budget changes go through next month. At 9.1 percent, Louisiana... Read more >

Category: Louisiana

The surprising relationship between taxes and charitable giving

Source: marketwatch.com - Jan 22, 2016

When it comes to charitable giving, it’s well known that taxes matter. The promise of a big deduction is a great way to get people to open their checkbooks. Yet the relationship between taxes... Read more >

Category: IRS

IRS Forms 1099 Are Coming, The Most Important Tax Form Of All

Source: forbes.com - Jan 22, 2016

IRS Form 1099 season is here. No form is more critical to your tax return. You are almost guaranteed an audit or tax notice if you fail to report a Form 1099. Each Form 1099 is matched to your... Read more >

Category: IRS

January brings new, rewritten laws in Louisiana with the start of 2016

Source: wdsu.com - Jan 4, 2016

Nineteen new or rewritten state laws go into effect in January. Most of the changes happen on Friday on New Year's Day, but others begin when Gov.-elect John Bel Edwards takes office on Jan. 11.... Read more >

Category: General Business

2016 Tax Season Opens Jan. 19 for Nation’s Taxpayers

Source: irs.gov - Dec 23, 2015

IR-2015-139, Dec. 21, 2015 WASHINGTON ― Following a review of the tax extenders legislation signed into law last week, the Internal Revenue Service announced today that the nation’s tax season... Read more >

Category: IRS

Congress Easily Clears Massive Omnibus Spending Bill, Avoiding Shutdown

Source: govexec.com - Dec 18, 2015

In con­vin­cing bi­par­tis­an votes, the House and Sen­ate have passed an om­ni­bus to keep the gov­ern­ment fun­ded and a massive pack­age of tax break ex­ten­sions, wrap­ping up a... Read more >

Category: General Business

House Passes $1.1 Trillion Omnibus Spending Bill

Source: huffingtonpost.com - Dec 18, 2015

WASHINGTON -- In a vote that might have said more about the internal divisions of the parties than the House itself, Republicans and Democrats came together Friday to pass a sweeping $1.1 trillion... Read more >

Category: IRS

How you'll benefit from the new tax deal

Source: money.cnn.com - Dec 17, 2015

Parents, low-income families, students, teachers and mass commuters are among those who will benefit from a big tax deal that will be voted on by Congress in the next few days. While nothing is... Read more >

Category: IRS

FinCEN Further Extends Certain US FBAR Deadlines

Source: tax-news.com - Dec 11, 2015

The United States Financial Crimes Enforcement Network (FinCEN) has announced a further extension of time for certain individuals with signature authority over, but no financial interest in, some... Read more >

Category: General Business