The US Senate Finance Committee released a bill called the “Veteran Employment Transition Act of 2013”, that was introduced on January 24th, 2013. This bill would improve the existing Work Opportunity Tax Credit for employers by allowing them to claim...
The IRS created regulations that required all tax return preparers to pass a qualifying exam, pay an annual application fee, and take 15 hours of continuing education courses each year, in order to become a “Registered Tax Return Preparer” (RTRP)....
Washington based online retailer Amazon Inc has decided to fight a $234M tax liability in US Tax Court, regarding the alledged IRS over-valuation of Amazon’s “intangible property” that moves across international borders, referred to as a “transfer tax”. The IRS...
The IRS has announced a simplified method to claim the home office deduction as an alternative option beginning this year. In 2010, nearly 3.4M taxpayers claimed deductions for the business use of their home or residence. This new options provides...
The IRS has released findings from the Treasury Inspector General for Tax Administration (TIGTA), that states approximately 60 percent of taxpayers who claim large noncash contributions may be reporting them erroneously. Typically, a taxpayer can claim a noncash contribution to...
