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Latest Articles

  • 3 Solutions to New York Tax Inequities

    By:
    William F. Berardi, CPA
    |
    Feb 1, 2016
    In 2012, Gov. Cuomo tasked the New York State Tax Reform and Fairness Commission to review the state’s complex tax code and recommend ways to simplify it. The commission’s final report, issued in 2013, highlighted several areas of tax inequality that remain on the state’s books. 

  • New York State Releases Its Throwback Tax Form (and It Is Unduly Complex)

    By:
    Kevin Matz, Esq., CPA, LLM
    |
    Feb 1, 2016
    The New York State Department of Taxation and Finance has posted on its website Form IT-205-J, New York State Accumulation Distribution for Exempt Resident Trusts (Schedule J).

  • IRS, States, and Tax Industry Implement New Safeguards

    By:
    Damon Asper
    |
    Jan 1, 2016
    Protecting taxpayers against fraud is a top priority for the IRS. But recent years have proved challenging, as criminals gather increasing amounts of personal data. The IRS, however, has made real progress in the past several years.

  • A Great Time To Give: Charitable Trust Planning in the Current Environment

    By:
    Carl Fiore, JD, LLM
    |
    Jan 1, 2016
    While charitable giving has always been an important part of tax planning, the current tax and economic environment has greatly incentivized many wealthy individuals to give more.  

  • New York Sales Tax Audits: Are Test Period Agreements Binding?

    By:
    Brian Gordon, CPA
    |
    Jan 1, 2016
    There are many different types of sales tax audits.  Audits of cash businesses, which are often closely-held or family-owned businesses that lack internal controls, are very common. 

  • Final Regulations on F Reorganizations

    By:
    Michael Schonig, CPA
    |
    Jan 1, 2016
    On Sept. 21, 2015, the Treasury Department and IRS released final regulations providing clarification on the qualification of transactions as “F Reorganizations” under IRC section 368(a)(1)(F). 

  • The Crowdfunding Craze: A Primer for Tax Professionals

    By:
    Sean Mathey, Esq.
    |
    Dec 1, 2015
    The popularity of Internet crowdfunding has exploded in recent years.  As individuals and businesses turn increasingly to this alternative form of financing, the regulatory response has been outpaced, leaving tax and legal advisors on uneven ground regarding client counsel.  

  • Retirement Plans: An Overlooked Benefit for Business Owners
    Higher Contributions and Greater Flexibility

    By:
    Kenneth A. Horowitz, CLU, ChFc
    |
    Dec 1, 2015
    Many CPAs ask if companies are still sponsoring defined benefit plans.  They are usually surprised by how the current pension rules are “business-owner friendly.”  

  • IRS Proposes Implementing a Donee Report Form

    By:
    John Vazzana, CPA, CGMA
    |
    Dec 1, 2015

    The Omnibus Budget Reconciliation Act of 1993 (“OBRA93”) contained two major provisions affecting charities and their donors by introducing the "substantiation" and "disclosure" requirements.

  • The CPA’s Annual Life Insurance Audit

    By:
    Laura Sherris, Esq.
    |
    Dec 1, 2015
    Based on a recent study by the National Association of Insurance Commissioners, over 60% of people who own life insurance have no idea what they own or how it works. 
Page
Tax Jokes
  

What sort of taxes are there on trash bags? Hefty ones, and no one is Glad about it.

https://parade.com/1317763/jessicasager/accounting-jokes/

Tax News


IRS Provides Tax Inflation Adjustments for Tax Year 2024,Internal Revenue Service

IRS Extends Popular Flexibilities Set to Expire; Electronic Signatures and Encrypted Email Enhance the Taxpayer Experience, Internal Revenue Service

IRS Announces Withdrawal Process for Employee Retention Credit Claims; Special Initiative Aimed at Helping Businesses Concerned About an Ineligible Claim Amid Aggressive Marketing, Scams, Internal Revenue Service

IRS Launches New Initiatives Using Inflation Reduction Act Funding to Ensure Large Corporations Pay Taxes Owed; Continues to Improve Service and Modernize Technology with Launch of Business Tax Account, Internal Revenue Service

IRS 2024 PTIN Renewal Period Underway for Tax Professionals, Internal Revenue Service


IRS Advances Innovative Direct File Project for 2024 Tax Season; Free IRS-Run Pilot Option Projected to be Available for Eligible Taxpayers in 13 States,Internal Revenue Service

Tax Change Affecting R&D Deductions Poses Danger to Some Smaller Businesses, The Trusted Professional

IRS Launches Business Tax Accounts and Enhances Tax Pro Accounts, The Trusted Professional

IRS Announces New Inflation Adjustments for 2023, The Trusted Professional

Yellen: U.S. Can't Sign Global Tax Treaty in Time to Prevent Levies from Other Countries, The Trusted Professional

TIGTA: Most of IRS’s Initial Inflation Reduction Act Spending Went to Taxpayer Services, The Trusted Professional

*Outside the Box is a new addition to the TaxStringer featuring important articles on financial and investment management topics by top authors who have expertise both inside and outside the realm of taxation.

 

 

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Views expressed in articles published in Tax Stringer are the authors' only and are not to be attributed to the publication, its editors, the NYSSCPA or FAE, or their directors, officers, or employees, unless expressly so stated. Articles contain information believed by the authors to be accurate, but the publisher, editors and authors are not engaged in redering legal, accounting or other professional services. If specific professional advice or assistance is required, the services of a competent professional should be sought.