IRS Encourages Taxpayers to Strongly Consider Voluntary Disclosure Programs

The Internal Revenue Service (the “IRS”) recently announced increasing participation in Offshore Compliance Programs and urged the U.S. taxpayers ... read more >

New Rules Proposed for Substantiating Charitable Contributions

UPDATE to proposed treasury regulations. Currently, to claim a tax deduction for a charitable contribution, a taxpayer must obtain a contemporaneous written ... read more >

Pennsylvania Budget Update November 2015

There are signs of progress in Pennsylvania’s budget standoff. On November 9, the Governor’s office and Legislature signaled potential agreement ... read more >

IRS Phone Scams and What to do to Avoid Being Swindled

Tax

By John Kohler

Recently, I received a voice message (on my work phone) from "IRS Agent White," who informed me that I have large outstanding balances with the ... read more >

Oil and Gas Investor Subject to Self-Employment Tax for Fractional Working Interest Ownership

A recent court case, Methin v. Commissioner, T.C. Memo 2015-81, ruled that an investor’s small (at times 5% or less) share of a working interest ... read more >

IRS Issues 2016 Tax Tables and Inflation Adjustments

Tax

By Sarah Piot

It’s hard to believe 2015 is already coming to a close. The IRS just reminded us of that by issuing the 2016 inflation adjustments and tax tables ... read more >

Nonprofit Organizations are Eagerly Awaiting the Pennsylvania State Budget

On June 30, 2015, just one day before the start of Pennsylvania’s 2015 – 2016 fiscal year, the state House and state Senate passed a $30.2 ... read more >

Alabama Enacts Economic Nexus Rules for Sales Tax

Twenty-three years ago the United States Supreme Court in Quill v. North Dakota established the current standard under which a state can impose its sales ... read more >

Tax Planning - The Kiddie Tax and How You Can Avoid It

The federal tax law imposes a kiddie tax on children’s investment income (i.e., unearned income greater than $2,100 for 2015), and the income is ... read more >

Are Identity Theft Protection Services Taxable? A Closer Look at IRS Announcement 2015-22

Tax

By Xiaoyan Li

Identity theft is a continuing concern throughout the United States. According to a study by Javelin Strategy & Research, 12.7 million taxpayers were ... read more >