House Introduces Tax Extenders Act of 2009

Tax

By Ron Kramer

HR 4213, the Tax Extenders Act of 2009 is proposed legislation thatextends through 2010, $32 billion of tax provisions that are due to expire at the end of 2009.... read more >

Still No Guidance From the IRS On Filing Requirements for Extended FBAR Filing Deadline

Tax

By Ron Kramer

The IRS indicated that the Treasury Department intended to issue further guidance prior to June 30, 2010 clarifying the FBAR filing requirements pertaining to these specified persons. To date, this guidance has not been forthcoming from the IRS.... read more >

House Vote on 2010 Estate Tax Expected Today

Tax

By Martin DiGiovine

As part of the Economic Growth Tax Revenue Reconciliation Act of 2001 (EGTRRA), Congress enacted a gradual decrease in the estate tax until 2010 when it would be completely repealed for one year. Under that law, the estate tax would return in 2011 at the original 55% rate and $1 million exemption amount in effect in 2001.... read more >

New Tax Bill Mandates Increased Use of Electronic Filing by Paid Tax Return Preparers

Tax

By Barbara Balcita

The Worker, Homeownership, and Business Assistance Act of 2009 mandates paid tax return preparers who prepare more than 10 returns to electronically file (e-File) all individual, estate and trust returns they prepare after December 31, 2010. Here's what you should know about the e-File mandate.... read more >

2009 Ohio Tax Update

Tax

By Kathleen Myers

Franchise Tax Returns - With the phase-out of the personal property tax and franchise tax that began 4 years ago, 2009 marked the final returns for many filers. The final Forms FT-1120 for corporations were due on October 15, 2009 (if extended), and the final Forms FT-1120S for S corporations were due in June.... read more >

New Law Extends Homebuyer Credit, Unemployment Benefits and NOL Carrybacks

Tax

By Martin DiGiovine

The Worker, Homeownership and Business Assistance Act of 2009 (the Act) was signed into law on November 6, 2009. In addition to extending benefits to unemployed workers, the Act extends and expands some of the stimulative tax measures contained in the American Recovery and Reinvestment Act of 2009 (ARRA) passed last February.... read more >

The Internal Revenue Service Extends Deadline for Disclosing Offshore Accounts

Tax

By Ron Kramer

Today, the Internal Revenue Service (IRS) announced a one-time extension of the deadline for special voluntary disclosures by taxpayers with unreported ... read more >

Beware of E-Mail Scam Posing as IRS Correspondence

Tax

By Mark DiPietrantonio

Beware of any email that you receive posing as correspondence from the Internal Revenue Service (IRS) as our firm has seen an increase in the number of these phony e-mails.  Mark DiPietrantonio explains. ... read more >

IRS Settles Offshore Account Information Dispute with UBS AG and Swiss Government

Tax

By Ron Kramer

On August 19, the Internal Revenue Service (IRS), Swiss bank UBS AG and the Swiss government reached an agreement to settle a tax dispute in which the ... read more >

The IRS Again Extends the FBAR Filing Deadline for Specified Persons

Tax

By Ron Kramer

Late on Friday, August 7, 2007, the Internal Revenue Service (IRS) issued Notice 2009-62, again extending the due date for 2008 and earlier calendar-year ... read more >