IRS Expands Use of Electronic Payments, Discontinues Paper Coupons

By |2010-08-23T12:58:49-04:00August 23rd, 2010|Corporate Income Tax, Individual Income Tax, Tax Payments|

Source: Journal of Accountancy, AICPA August 21, 2010 The IRS has issued proposed regulations that would eliminate paper coupons for deposits of employment taxes, corporate income and estimated taxes, and many other taxes (REG-153340-09). The paper coupon payment system will be shut down at the end of this year. With [...]

Seven Facts about the Nonbusiness Energy Property Credit

By |2010-08-13T14:24:40-04:00August 13th, 2010|Energy Efficeincy, Home Owners|

Source: IRS.gov Issue Number:    IRS Summertime Tax Tip 2010-16 Inside This Issue Thinking about making some energy saving improvements to your home this summer? Taking some energy saving steps now may lead to bigger tax savings next year. The Nonbusiness Energy Property Credit, a tax credit for making energy efficient improvements [...]

Accounting for Trust Accounts

By |2010-08-13T11:53:28-04:00August 13th, 2010|AFSG, Attorneys, Audits|

The Florida Bar and Law Office Management Assistance Service (LOMAS) have released information about some of the reasons attorney’s become subject to license suspension and penalties due to issues with their trust accounts. More and more law firms including small individual practices and large partnerships are going to be subject [...]

IR-2010-089: IRS Removes Debt Indicator for 2011 Tax Filing Season

By |2010-08-05T16:07:04-04:00August 5th, 2010|Individual Income Tax, News Articles|

IRS Issue Number:    IR-2010-089 Inside This Issue WASHINGTON — The Internal Revenue Service today announced that starting with next year’s tax filing season it will no longer provide tax preparers and associated financial institutions with the “debt indicator,” which is used to facilitate refund anticipation loans (RALs). “As we prepare for [...]

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