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March 2012 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 tax reporting and filing data for individuals, businesses and other taxpayers for the month of March 2012. March 2 Employers. Semi-weekly depositors must deposit employment taxes for payroll dates February 25–28. […]

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February 2012 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 tax reporting and filing data for individuals, businesses and other taxpayers for the month of February 2012. February 1 Employers. Semi-weekly depositors must deposit employment taxes for payroll dates January 25–27. […]

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How Do I… Receive my tax refund that the IRS used to offset my spouse’s debt?

The Treasury Department is authorized to offset a taxpayer’s tax refund to satisfy certain debts. A spouse who believes that his or her portion of the refund should not be used to offset the debt that the other spouse owes may request a refund from the IRS. Offset If an individual owes money to the […]

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FAQ: What tax breaks come with raising a child?

Taxpayers with children should be aware of the numerous tax breaks for which they may qualify. Among them are: the dependency exemption, child tax credit, child care credit, and adoption credit. As they get older, education tax credits for higher education may be available; as is a new tax code requirement for employer-sponsored health care […]

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IRS launches third version of voluntary offshore disclosure program

The IRS reopened its offshore voluntary disclosure program in early 2012 in response to what the government described as strong interest among taxpayers. The reopened program, the third of its type in recent years, encourages taxpayers with unreported foreign accounts to make full disclosures in exchange for a reduced penalty framework. Like its predecessors, the […]

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Congress begins work on payroll tax extension as White House unveils new proposals

The fate of the employee-side payroll tax cut along with a host of tax extenders and other expired provisions could be decided in coming weeks. A conference committee of House and Senate members is negotiating a full-year extension of the payroll tax cut and could add some or all of the tax extenders to a […]

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Sweeping new IRS “repair regulations” impact most businesses

The IRS has released much-anticipated temporary and proposed regulations on the capitalization of costs incurred for tangible property. They impact how virtually any business writes off costs that repair, maintain, improve or replace any tangible property used in the business, from office furniture to roof repairs to photocopy maintenance and everything in between. They apply […]

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Presti News

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Technology: Freedom of Expression Trumps Twitter Stalking Concerns

Until a decade ago, many people thought that the Internet might be a panacea for the many ills that afflicted our world in the late twentieth century. Access to information and real-time, inexpensive ways to connect across the globe seemed like a step toward invigorating debate and forging better worldwide communications. But as we all […]

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How to Survive on a Single Income in a Two-Income World

Learning to live on less is never easy. Sometimes it’s voluntary, like when a spouse decides to stay home to take care of children. Sometimes the decision is made for you. If one half of a couple is laid off, living on a single income might be the only option for awhile. In a slow […]

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