IRS Announces Erroneous Failure-to-Deposit Penalties Will Be Resolved


By Jim Gilboy

This spring’s tax season was extended to April 18 because of a holiday (Emancipation Day) in the District of Columbia. While many of us believed ... read more >

Business, or Hobby? Report Claiming IRS Has Been Delinquent in Reviewing Hobby Losses Issued


By Dennis Mowrey

The Treasury Inspector General for Tax Administration has issued a report and found that the IRS has been delinquent in reviewing “hobby losses” ... read more >

1040NR Update: Student Issues Yet to be Resolved

It came to light recently that thousands of international students were receiving notices about their 1040NR tax return for 2015. Instead of receiving ... read more >

1098-T Change in Reporting Requirements Pushed Back to the 2017 Filing Year

Prior to the passing of the Protecting Americans from Tax Hikes Act of 2015 (PATH Act) in December 2015, educational institutions had the option on Form ... read more >

Salaried Employees: Big Pay Raise on the Horizon?

We’re expecting the U.S. Department of Labor’s (DOL) proposed revisions to the Fair Labor Standards Act (FLSA) to be finalized as soon as May ... read more >

TaxAct Releases Online Form 990 Software

TaxAct, one of the biggest providers of do-it-yourself software, recently released an online form for tax-exempt organizations. All organizations exempt ... read more >

A Reminder for Taxpayers with Home-Based Businesses


By Dennis Mowrey

The Internal Revenue Service sent out a message last week to remind taxpayers with home-based businesses that, when filling out their 2015 federal individual ... read more >

Don't Forget to Depreciate: PATH Extends Bonus Depreciation


By Maggie Gompers

On December 18, 2015, Congress passed the “Protecting Americans from Tax Hikes” (“PATH”) Act, which preserves, modifies, and extends ... read more >

International Students Experience Issues with 1040NR Returns

While U.S. individual taxpayers can file and quickly receive their 2015 federal income tax refunds, there are many international students who are still ... read more >