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Andrew Presti

IRS Announces Pension Plan Limitations for 2011

The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2011. In general, these limits will either remain unchanged, or the inflation adjustments for 2011 will be small. Highlights include: The elective deferral (contribution) limit for employees who participate in section 401(k), […]

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Andrew Presti

IRS Issues Procedure Adjusting Tax Credits, Amount Limits for Inflation

The Internal Revenue Service Oct. 28 issued Revenue Procedure 2010-40, which provides inflation-adjusted amounts for various tax credits, limits, and fringe benefits. Also Oct. 28, IRS issued inflation adjustments (IR-2010-108) for qualified retirement plans. Every year IRS issues a procedure identifying changes in amounts for a multitude of tax credits, fringe benefit limits, tax exclusions, […]

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Andrew Presti

IRS Struggles With New Tax Changes

The Internal Revenue Service timely processed individual tax returns during the 2010 filing season, but implementing some new tax provisions presented challenges, according to a report released today by the Treasury Inspector General for Tax Administration. The IRS processed about 132 million individual income-tax returns and issued approximately 101 million refunds totaling $291.7 billion through […]

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Andrew Presti

Summary of Board Decisions—FASB Board Meeting

Accounting for financial instruments. The staff summarized for the Board significant feedback received on the proposal for classification and measurement of financial instruments included in the May 2010 Exposure Draft, Accounting for Financial Instruments and Revisions to the Accounting for Derivative Instruments and Hedging Activities—Financial Instruments (Topic 825) and Derivatives and Hedging (Topic 815), through […]

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Andrew Presti

Intuit Connect 2010 – November 16

Are you utilizing the best products and services Intuit has to offer?  Be one of the first to join this unique and informative virtual event sponsored by Intuit, the makers of QuickBooks. Learn about the power of Enterprise Solutions, Increasing Revenue with Payments, Saving Time with Payroll, Customer Service with Retail Solutions and the flexibility […]

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