Buffett Rule Fails to Move Forward in Senate

Tax

By Ron Kramer

Late yesterday afternoon, the U.S. Senate rejected the Democrat-backed Paying a Fair Share Bill of 2012 (Sen 2230) by 51-to-45 margin, largely along party ... read more >

TaxMasters Hit With $195M Judgment

Tax

By Ron Kramer

What’s that old adage?- “If it seems too good to be true, it probably is.” Yesterday, it was announced that TaxMasters Inc., a Texas-based, ... read more >

House Republicans and Senate Democrats Introduce Small Business Tax Relief Legislation

Tax

By Ron Kramer

In recent days, both House Republicans and Senate Democrats have unveiled tax legislation focused on incenting small business growth. On March 21, House ... read more >

Rep. Paul Ryan Outlines House GOP Fiscal 2013 Budget Blueprint

Tax

By Ron Kramer

On March 20, 2012, House Budget Committee Chairman Paul Ryan, R-Wis., released the GOP budget proposal for fiscal year 2013. The GOP budget, called "The ... read more >

IRS Large Business Division "Standing Down" from Prior-Year Exam Activity of Capitalization Issues

Tax

By Ron Kramer

On March 15, 2012, the IRS’s Large Business and International (LB&I) Division announced it will cease audits of repair versus capitalization ... read more >

IRS Modifies Energy Savings Percentages for Energy-Efficient Building Improvements

Tax

By Ron Kramer

On February 23, 2012, the Internal Revenue Service (IRS) issued Notice 2012-22, Modification of Notice 2008-40; Deduction for Energy Efficient Buildings. ... read more >

2012 Foreign Earned Income and Housing Exclusions

Tax

By Joanne Silowash

Internal Revenue Code (IRC) Section 911 allows U.S. citizens or residents working abroad to exclude foreign earned income from U.S. taxation and to claim ... read more >

President Obama Releases A Framework for Business Tax Reform

Tax

By Ron Kramer

On February 22, the U.S. Department of the Treasury released President Obama’s framework for reforming the U.S. business tax system. Treasury Secretary ... read more >

FinCen Issues Temporary Exemption from Mandatory Electronic Filing of FBAR

Tax

By Ron Kramer

In late 2011, FinCen proposed to mandate e-filing of certain reports required under the Bank Secrecy Act effective June 30, 2012. The FBAR was included ... read more >

Payroll Tax Cut Extended Through 2012

Tax

By Martin DiGiovine

On Friday, February 17, the U.S. Senate and House passed a bipartisan deal to extend the 2% employee payroll tax cut through December 31, 2012. Details...... read more >