Archive for February, 2015
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 […]
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Leave a Comment (0) →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 […]
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Leave a Comment (0) →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 […]
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Leave a Comment (0) →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 […]
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