How Does The IRS Automated System For College Financial Aid Work?
Posted on Thursday, September 27, 2012
The IRS has unveiled the IRS Data Retrieval Tool (DTR), a time-saving tool designed to minimize the time required for college-bound students and their parents
Private Inurement
Posted on Wednesday, September 26, 2012
There are certain things a nonprofit organization is restricted from doing in order to keep its exempt status. One of which is private
Claim A Casualty Loss Deduction For Storm Or Drought Damage
Posted on Tuesday, September 25, 2012
When disaster strikes, a casualty tax loss may provide some comfort. A casualty is the damage or destruction of property resulting from an identifiable event
New “Repair Regulations Continue To Demand Action
Posted on Sunday, September 23, 2012
More than six months after the IRS issued temporary "repair" regulations (T.D. 9564), many complex questions remain about their interpretation and
First Medical Loss Ratio Rebates Received By 12.8 Million Americans
Posted on Saturday, September 22, 2012
Is your Medical Loss Ratio (MLR) rebate check taxable? The U.S. Department of Health and Human Services (HHS) estimates that nearly
Computing “Substantial Equal Periodic Payment”
Posted on Friday, September 21, 2012
Taxpayers who wish to withdraw funds from a retirement account such as an IRA before they reach the age of 59 and a half, can do so without their
IRS Tightens Rules On Deductions For Personal Use Of Employer-Owned Aircraft
Posted on Thursday, September 20, 2012
The IRS has issued final regulations (T.D. 9597) that severely restrict an employer’s ability to deduct costs incurred for entertainment, amusement or
Year-End Planning Amid Legislative Uncertainty
Posted on Thursday, September 20, 2012
As 2013 draws closer, news reports about "taxmageddon" and "taxpocalypse," describing expiration of the Bush-era tax cuts, are proliferating. Many taxpayers
IRS Clarifies Deduction Limits For Meals/Entertainment Reimbursement To Employees/Contractors
Posted on Wednesday, September 19, 2012
The IRS has issued proposed reliance regulations to clarify the exception to the 50 percent meal and entertainment expenses deduction limit under Code Sec
Health Care Cost Disclosure Update
Posted on Wednesday, September 19, 2012
In January 2012, the IRS issued Notice 2012-9 that provides additional clarification and guidance on Notice 2011-28 regarding employer-provided health
