May 17, 2011
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Interest Rates Remain the Same for the Third Quarter of 2011
May 16th, 2011 The Internal Revenue Service today announced that interest rates for the calendar quarter beginning July 1, 2011, will remain the same as in the previous quarter. The rates will be: four (4) percent for overpayments [three (3) percent in the case of a corporation]; four (4) percent for underpayments; six (6) percent […]
Read more- May 16, 2011
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3 New Retirement Rules You Can’t Ignore
May 13th, 2011 Some people do everything right, play by the rules, and still end up unprepared for retirement. That’s because the retirement rules have changed quite a bit over the past generation. Make sure you are aware of these changes in order to adequately prepare for retirement. 1. Savings isn’t enough. Not so long […]
Read more- May 13, 2011
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Tax Legislation Update: IRS Revenue Procedure 2011-26 Provides Bonus Depreciation Guidance
May 3rd, 2011 The new IRS Revenue Procedure 2011-26 gives detailed guidance on handling the deduction for bonus depreciation in specific situations. While mainly concerned with the new 100% bonus depreciation deduction, Revenue Procedure 2011-26 also discusses the 50% bonus deduction. This important revenue procedure does the following: Clarifies that qualifying restaurant property and retail […]
Read more- May 12, 2011
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Republicans Rule Out Tax Increases in Debate Over Debt Cap
May 10th, 2011 Republican congressional leaders are ruling out tax increases or a wider revenue base in talks on extending the U.S. government’s borrowing authority, creating a conflict with Democrats who would raise more money as well as cut spending. House Speaker John Boehner staked out the Republican position by telling the Economic Club of […]
Read more- May 11, 2011
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Eliminating Tax Expenditures Might Not Yield As Much Revenue as Expected
May 10th, 2011 Lawmakers need to dial back expectations for revenue gains from the elimination of tax expenditures in the Internal Revenue Code, panelists said May 6 at the American Bar Association Section of Taxation May meeting. Each year the Joint Committee on Taxation releases a publication outlining the tax expenditures currently in the tax […]
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