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Are you interested in attending the AAA-CPA Annual Meeting & Education Conference in Hawaii? Join this listserv and connect with other registrants to coordinate your time on the islands. We want this to be your ideal trip filled with what you want to do. What a great way to plan by connecting with other AAA-CPA attendees before you go. Please contact Kimmy Livingston at firstname.lastname@example.org to join the discussion today!
By David S. De Jong, Esq., CPA, Stein Sperling Bennett De Jong PC
In Co v. Commissioner, TC Memo 2016-19, the tax court denied a worker for the State Department a foreign earned income exclusion as he was a federal employee. The taxpayer attempted to argue that he was an independent contractor entitled to the exclusion.
In Garcia v. Commissioner, TC Memo 2016-21, the tax court threw out $77,000 of itemized deductions claimed by a couple including charitable contributions, medical expenses and employee business expenses for lack of substantiation. The deductions that were denied included clothing for driving a truck by the husband and teaching school by the wife as well as cigars given by the husband to workers who unloaded trucks.
More than a third of all taxpayers expecting to file a tax return have already submitted tax returns. As of Feb. 26, the Internal Revenue Service had received 58,304,000 tax returns, a change of just -0.4 percent from 2015, when 58,528,000 tax returns were received. Over that same time, 56,290,000 tax returns were processed, down 1.0 percent from the same time that year, when 56,857,000 tax returns were processed.
CPA Practice Advisor
Small businesses in the U.S. have new opportunities to benefit from major tax credits because of two new laws. The enactment of the Omnibus Spending Bill H.R. 2029 and the Protecting Americans from Tax Hikes Act of 2015 at the end of 2015 have great potential for businesses, according to ADP.
Many of the special personal identification numbers given out by the Internal Revenue Service to protect victims of identity theft may have been stolen, according to a security research site. The site Krebs on Security reported that a South Dakota CPA, Becky Wittrock, had her Identity Protection PIN stolen.
|| MISSED AN ISSUE OF THE AAA-CPA WEEKLY UPDATE? VISIT AND SEARCH THE ARCHIVE TODAY.
The due date for reporting the value of estate assets under Code Section 6035 has again been extended, from Feb. 29 to March 31.
Under Notice 2016-19, the Internal Revenue Service is allowing extra time for review of proposed regulations — expected soon — before taxpayers have to file Form 8971, Information Regarding Beneficiaries Acquiring Property From a Decedent, and any Schedule A.
California is a killer when it comes to taxes. After analyzing
the tax policies of all 50 states and Washington, D.C., we ranked the Golden State the absolute worst in terms of the overall tax bite that it takes out of its residents.
U.S. News & World Report
Immigrants illegally in the U.S. collectively contribute nearly $12 billion each year to state and local tax coffers, according to a new report that challenges recent election cycle rhetoric.
The study from the Institute on Taxation & Economic Policy found that immigrants in the U.S. without legal permission kick in their billions in the form of income, property, sales or excise taxes.
Study Group: State Income Tax Trends and Looking Forward
Study Group: Secondary Planning for Charitable Remainder Trusts
Till Death Do Us Part: How Death Affects Family Law Proceedings
Commercial Construction Contracts Important Provisions
Study Group: The New Nevada Commerce Tax — What, When, Where and How?
Study Group: Cognitive Decline, Dementia and Incapacity
California Chapter Education Program
Study Group: Marketplace Fairness — Is It Alive or Sleeping?
SG: Charitable Optimization
ESOPs — The Ultimate in Tax and Business Succession Planning That Benefits
Study Group: How Do States Catch You?
AAA-CPA Annual Meeting & Education Conference
7701 Las Colinas Ridge, Ste. 800, Irving, TX 75063