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Lawmakers add tax measures to trade package, approve other tax bills

Lawmakers add tax measures to trade package, approve other tax bills Tax provisions are often included as revenue raisers in non-tax bills and this year is no exception. A massive trade package making its way through Congress contains a number of tax measures, impacting both individuals and businesses. At the same time, some stand-alone tax […]

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June 2015 Newsletter

Andy Presti discusses how to file an amended return if you discover and error. Also, Steve Grgas discusses how the IRS resolves and identity theft case.

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How do I? File an amended return

How do I? File an amended return A taxpayer who discovers an error after filing his or her income tax return may need to file an amended return. A change in filing status, income, deductions, or credits would require an amended return. This could happen, for example, if an investment broker sends a corrected Form […]

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How the IRS resolves an identity theft case

How the IRS resolves an identity theft case The IRS has responded to criticism from the Treasury Inspector General for Tax Administration and the National Taxpayer Advocate, among others, that resolution of identity theft accounts takes too long by increasing its measures to flag suspicious tax returns, prevent issuance of fraudulent tax refunds, and to […]

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Salvatore V. Russo, CPA, Admitted to Firm as Partner

We are pleased to announce that Salvatore V. Russo, CPA has been admitted to the firm as a partner. Sal joined Presti & Naegele in November, 2002. With over 15 years of experience in Public Accounting, Sal has serviced Business and Individual clients of all sizes, operating in multiple states and local jurisdictions, in a […]

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April 2015 Newsletter

Steve Grgas discusses how IRS auditors place more focus on partnerships as use of the entity increases.  Also, Joe Romano details how tax reform talks continue in Washington and how they are eager for public input.

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Supreme Court Takes up Challenge to ACA Premium Assistance Tax Credit

Between now and late June, the U.S. Supreme Court is expected to rule on an important provision of the Patient Protection and Affordable Care Act: the Code Sec. 36B premium assistance tax credit. The Supreme Court has heard oral arguments in King v. Burwell, 2014-2 ustc ¶50,367, where the plaintiffs argue that the IRS erred in […]

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April 2015 Tax Compliance Calendar

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important federal tax reporting and filing data for individuals, businesses and other taxpayers for the month of April 2015. April 1 Employers. Semi-weekly depositors must deposit employment taxes for payroll date March […]

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Tax reform talks continue in Washington, public input sought

Tax reform percolates in Washington as the new Congress and the White House continue discussions over the scope and reach of tax legislation this year. Administration officials, lawmakers and Congressional staffers have signaled that off-the-record discussions have dealt with some hefty tax reform proposals but, so far, have released few details of these discussions. At […]

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March 2015 Newsletter

Joe Romano discusses Rev. Proc. 2015-20 and how the IRS provides repair regulations relief for small businesses. Andy Presti talks about tax legislation and reform cautiously move forward in new Congress.

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