IRS Survey on Tax Cheating

Tax

By Ron Kramer

The Internal Revenue Service Oversight Board's annual Taxpayer Attitude Survey revealed some startling changes in attitude toward tax compliance. Ron Kramer shares some of the more suprising results.... read more >

IRS Issues Additional Guidance on Filing of Form TD F 90-22.1, FBAR for 2009 and Earlier Calendar Years

Tax

By Ron Kramer

On February 26, 2010, the Internal Revenue Service (IRS) issued the long awaited additional guidance to certain filers of FBARs who had been granted an ... read more >

The IRS and UNICAP

Automobile

By Bob Bandi

The IRS is determined to classify auto dealers as wholesale distribution centers rather than retail stores. Dealers would then be required to use a complicated formula - UNICAP - to formulate capital costs as inventory...which may increase their taxable income. Bob Banidi provides an overview.... read more >

What can the United States' Olympic Performance Tell Us About the Future of the Economy?

Let’s face it, the naysayers are not going to go away when it comes to their negative prognostications about the U.S. economy. According to some, ... read more >

Insight into an Ohio Audit

The Ohio Department of Taxation recently hired 85 new auditors, which brings the Department’s total audit workforce to approximately 340 people.... read more >

Monitoring Vendor Performance and Performing Vendor Audits: Keeping Everyone Honest

With all the recent news about quality issues and recalls, one might wonder how a company can protect itself from exposure, or at least reduce the risk resulting from today’s integrated economy and the associated high dependence on vendors within the supply chain.... read more >

Construction Financial Managers: Are You Prepared for the IRS?

In May 2009, the Internal Revenue Service updated its Construction Industry Audit Technique Guide (ATG). ATGs are one of many tools used by IRS field agents to understand specific industries and assist them in the audit of taxpayers. It is apparent that the IRS sees the construction industry as one of its primary targets in the quest to ensure taxpayer compliance and the proper reporting of income.... read more >

Vendor Versus Sub-Recipient

Not-for-profit enterprises serve an organizational mission that differs from a typical business bottom line. Nevertheless, in many functions, they operate much like for-profit enterprises, with key differences.... read more >

529 College Savings Plans and Investment Strategies

College costs have been on a steady increase for the last decade resulting in a near doubling of the total outlay for a four-year undergraduate degree from just ten years ago. As a result, student loans have become a virtual necessity for most families as they plan for college costs. Unfortunately, an escalating number of college students are graduating buried in student loan debt.... read more >

February 28, 2010 is the last day to make deductible 2009 charitable contributions for Haiti relief

Tax

By Ron Kramer

February 28, 2010, is the last day for individuals who itemize their deductions and for corporations to make cash contributions to charities providing ... read more >