September 02, 2011
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Cool Treasury Data on the Revenue Effect of Past Tax Bills
August 24,2011 Jerry Tempalski at Treasury’s Office of Tax Analysis has put together an amazing time series of the revenue effects of major tax legislation going back to 1940. Doing this on a consistent basis is more challenging than you might imagine, and Jerry’s study discusses some of the limitations of his data. But the […]
Read more- September 01, 2011
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Management Accountants: The People Businesses Need Now More Than Ever
August 31,2011 The impact of regional economies over global financial markets is intense. This past month was particularly tumultuous as investors reacted to current events and economic conditions in Europe, Asia and the U.S. The rocky ride has organizations struggling to maintain the inroads they’ve made over the last two years. Corporations must navigate the […]
Read more- August 31, 2011
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IRS Reminds Taxpayers that Aug. 31 Is the Deadline for the Second Special Voluntary Disclosure Initiative of Offshore Accounts
August 26,2011 WASHINGTON — U.S. taxpayers hiding income in undisclosed offshore accounts are running out of time to take advantage of a soon-to-expire opportunity to come forward and get their taxes current with the Internal Revenue Service. The IRS today reminded taxpayers that the 2011 Offshore Voluntary Disclosure Initiative (OVDI) will expire on Aug. 31, […]
Read more- August 30, 2011
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New IRS Carryover Basis Guidance Offers Limited Relief for Estates
August 26,2011 New estate tax guidance from the Internal Revenue Service offers limited relief for executors who want to file amended carryover basis returns, Steve Akers, a managing director with Bessemer Trust in Dallas, told BNA Aug. 25. So-called 9100-2 relief in Treasury Department regulations, outlined in Notice 2011-66, allows estate executors to amend their […]
Read more- August 29, 2011
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TIGTA: IRS Does Not Timely Resolve Math Error Disputes
August 24,2011 The Treasury Inspector General for Tax Administration (TIGTA) released a report in which it recommended that the IRS develop processes to ensure that math error disputes with taxpayers are resolved more quickly and accurately. Between Jan. 1 and July 23, 2010, TIGTA reviewed 260 taxpayer responses to IRS math error notices in which […]
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