Blog, News, & Events

Archive for February, 2015

Choose a Preparer Carefully

Tax preparer fraud is on the rise in the U.S. And this year with the completion of the rollout of the Affordable Care Act the IRS expects the incidents of fraud to increase even more. So while the vast majority of tax professionals provide honest high-quality service there are some dishonest preparers who set up […]

Continue Reading →

Posted in: News

Leave a Comment (0) →

IRS To Provide Penalty Relief for Balances Due Resulting from an Advance Payment of the Premium Tax Credit

The IRS announced today that they will provide limited relief for taxpayers who have a balance due on their 2014 income tax return as a result of reconciling on your return advance payments of the premium tax credit against the premium tax credit allowed. If a taxpayer meets certain requirements, the taxpayer is relieved of […]

Continue Reading →

Posted in: News

Leave a Comment (0) →

Employer Arrangements that Reimburse Employees for Insurance Premiums They Pay on Individual Plans no Longer Legal

On Nov. 6, 2014, the Departments of the Treasury (Treasury Department), Health and Human Services (HHS), and Labor (DOL) issued a series of FAQs in which they discussed the long-standing practice by some employers (nonprofit and for-profit alike) of reimbursing employees for the cost of health care premiums or out of pocket expenses paid by […]

Continue Reading →

Posted in: Employment Law, Healthcare Reform, News

Leave a Comment (0) →

Tuition and Fees Deduction, AOTC and Lifetime Learning Credit

During a recent webinar, officials of the IRS reviewed two education tax credits: the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit. Officials discussed the eligibility requirements for each credit, as well as some of the common errors that taxpayers make with respect to each. The webinar also covered the importance of educational […]

Continue Reading →

Posted in: News

Leave a Comment (0) →