The Daily

  • House Bill Would Make Gym Memberships Tax Deductible

    By:
    Chris Gaetano
    |
    Mar 13, 2015
    A new bill introduced in the House of Representatives aims to encourage healthier lifestyles by offering tax incentives to those who go to the gym or otherwise participate in fitness activities, according to Forbes.
  • A Tax Auditor Once Died, and It Took the Office Two Days to Notice

    By:
    Chris Gaetano
    |
    Mar 13, 2015
    A tax auditor in Finland died at his desk, and his co-workers didn't notice for two entire days... according to Forbes. He had closed his office door while checking tax returns and everyone else assumed he wanted to be left alone, so no one disturbed him until a friend called him to ask whether he wanted to get lunch. 
  • Visits to IRS Website Up 10 Percent

    By:
    CHRIS GAETANO
    |
    Mar 13, 2015
    Taxpayers, hungry for more information, have been visiting the IRS website looking for answers in increasing numbers, with total visitors this tax season so far numbering about 200 million, which the IRS website itself says represents a 10 percent increase over last year.
  • White Collar Criminals In Utah to be Registered in Database

    By:
    CHRIS GAETANO
    |
    Mar 12, 2015
    Utah has implemented the first, and so far only, white collar criminal registry, allowing anyone to view Utahans convicted of financial crimes like embezzlement or fraud, according to the New York Times.
  • Almost 67,000 Dead People Still Filing for Social Security Benefits

    By:
    CHRIS GAETANO
    |
    Mar 12, 2015
    Nearly 67,000 dead people filed for Social Security benefits between 2006 to 2011, claiming a collective $3.1 billion in income, according to CNBC.
  • SEC Approves 2015 XBRL Taxonomy for GAAP

    By:
    CHRIS GAETANO
    |
    Mar 12, 2015
    The Securities and Exchange Commission has given final approval for the 2015 XBRL taxonomy for U.S. GAAP, according to Compliance Week, allowing entities to use the updated version in their latest round of filings.
  • IRS Audits At 10-Year Low

    By:
    Chris Gaetano
    |
    Mar 5, 2015
    Last year, the IRS audited just .86 percent of all tax returns, the lowest rate in a decade, according to CNBC. The reason is that while the IRS, due to fewer resources and more responsibilities, is trying to do more with less, it has also resulted in them just doing less.
  • Belgium Number One in Income Tax; U.S. Number Eight

    By:
    Chris Gaetano
    |
    Mar 19, 2015
    While people do indeed pay plenty of taxes in the U.S., things could be worse: they could be in Belgium.
  • State/Federal Tax Conflict a Real Buzzkill for Legal Marijuana Industry

    By:
    Chris Gaetano
    |
    Mar 17, 2015
     Imagine if you had a business client who could not take any deductions or credits connected to any expense that arose from building and maintaining that business. What would that look like? What would their tax bill look like?
  • Public Praise for Significant Taxpayers?

    By:
    Chris Gaetano
    |
    Mar 30, 2015
    Tax delinquents are named and shamed--why not do the opposite and publicly praise people who pay significantly more taxes? 
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