Can We Avoid the Fiscal Cliff?

Tax

By Ron Kramer

Now that the election is over and Congress has returned to Washington, the debate will begin in earnest on how to deal with numerous expiring tax provisions ... read more >

PA Provides Guidance for Deducting Section 179 Property

Tax

By Gary Sliman

Section 179 allows a taxpayer to make an election to expense eligible tangible property in the year of acquisition as opposed to capitalizing and depreciating ... read more >

IRS Hot Topics

Tax

By Dennis Mowrey

The hottest topic now is that the IRS is targeting small and medium-size businesses with substantial cash flow and Sub-Chapter S filers. A just completed ... read more >

Claiming a Bad-Debt Deduction for a Shareholder Loan to a Corporation

Tax

By Mark DiPietrantonio

If a shareholder's loan to a corporation becomes worthless, the debt must be considered bona fide to qualify for a bad-debt deduction [Reg. 1.166-1(c)]. ... read more >

Hurricane Sandy, I Want to Help: Is My Contribution Tax-Deductible?

Tax

By Maureen Thomas

The East Coast and parts of the Midwest have been devastated by Hurricane Sandy. The storm system was nearly 1,000 miles wide at times and in addition ... read more >

IRS Publication 1075: Safeguards for Protecting Federal Tax Returns and Return Information

The most recent revision of IRS Publication 1075 became effective August 24, 2010. Since then, it has been supplemented with several additional requirement ... read more >

Attention Truckers - Form 2290 Highway Use Tax Return Due August 31, 2012

Yesterday, the Internal Revenue Service reminded truckers and other owners of heavy highway vehicles that, in most circumstances, their next federal highway ... read more >

Tired of the Olympics? Congress Provides Plenty of Political Theatre This Summer

Tax

By Martin DiGiovine

In another empty political gesture, On Wednesday, August 1, the U.S. House of Representatives passed legislation on a 256 to 171 vote that would extend ... read more >

Update on Congressional Tax-Cut (Hike) Legislation

Tax

By Ron Kramer

On July 25, the Senate passed the Democratic version of a measure that would extend the Bush tax cuts through 2013 on incomes up to $250,000. A last-minute ... read more >

IRS Issues Guidance Pertaining to Elections Under Section 83(b)

Tax

By Martin DiGiovine

The Internal Revenue Service recently issued Revenue Procedure 2012-29, which contains sample language that may be used (but is not required to be used) ... read more >