by Rupinder | Apr 7, 2015 | Uncategorized
Filing your tax return this year comes with a new twist: confirmation of your health insurance. Under the Affordable Care Act (ACA), taxpayers filing 2014 tax returns must attest that they had health care insurance since January 1, 2014 for themselves and their...
by Rupinder | Apr 6, 2015 | Uncategorized
April 15 is just over a week away and many tax preparers have fees in place for clients who bring their documents in at the last minute. Bloomberg recently published the article “Procrastinating On Your Taxes? Your Accountant May Fine You,” which quoted NSA President...
by Rupinder | Mar 27, 2015 | Uncategorized
April 15 is just around the corner and the IRS wants to remind everyone that they offer free tips and email subscription services. More than 670,000 people are getting useful, one-page IRS Tax Tips sent to their email inbox this tax season through a...
by Rupinder | Mar 25, 2015 | Uncategorized
The IRS released their 2014 Data Book this week, detailing their activity for the past fiscal year. “Fiscal Year 2014 marked the fourth consecutive year IRS appropriations were reduced,” said IRS Commissioner John Koskinen. “These reductions required us to change our...
by Rupinder | Mar 23, 2015 | Uncategorized
Nina Olson, National Taxpayer Advocate, recently presented her Annual IRS Report to Congress. One of the “Most Serious Problems” she covered was inefficient refund disallowance notices. By looking closely at the Taxpayer Bill of Rights, it becomes clear where the IRS...
by Rupinder | Mar 10, 2015 | Uncategorized
Many people who carry on a trade or business are self-employed. Sole proprietors and independent contractors are two examples of self-employment. If this applies to you, there are a few basic things you should know about how your income affects your federal tax...
by Rupinder | Jan 22, 2015 | Uncategorized
The Internal Revenue Service Advisory Council held its annual public meeting today and released its annual report, which includes recommendations on a wide range of tax administration issues. “We appreciate the hard work that these dedicated, civic-minded volunteers...
by Rupinder | Jan 22, 2015 | Uncategorized
November 10, 2014 NSA was invited by the Government Accountability Office (GAO) to discuss a range of tax compliance burdens of small businesses, from the tax practitioner perspective. NSA members provided feedback on a number of burdens placed both on the small...
by Rupinder | Jan 22, 2015 | Uncategorized
Enrolled Agents must renew their status every three years in order to remain eligible to practice before the IRS. If your social security number ends in 7, 8, 9, or you do not have one, you must renew by January 31, 2015. Renew your license using Form 8554,...
by Rupinder | Jan 22, 2015 | Uncategorized
Attracting and keeping good employees has never been more important for small businesses. One of the key benefits potential employees look for is an affordable health care program. Have you considered whether your business qualifies for the Small Business Health Care...
