April 26, 2011
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IRS Offers Guidance on Reporting Schedule M-3 Expenses
April 22nd, 2011 The Internal Revenue Service April 21 offered guidance on how taxpayers should report their research and experimentation expenses when filling out the Schedule M-3, which the nation’s largest taxpayers must use to reconcile their tax and book income. In general, IRS said that taxpayers who use a current deduction method of accounting […]
Read more- April 25, 2011
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Obama Raises Prospect of Social Security Hike as Deficit Panel Grows
April 20th, 2011 The list of members of a panel to be headed by Vice President Biden to tackle the government’s long-term deficit was rounded out further April 19 by the appointment of members of the Republican leadership in the House and Senate. Separately, President Obama, appearing at a community college in Virginia, said raising […]
Read more- April 22, 2011
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Why the Federal Reserve Isn’t Worried About Inflation Yet
April 19th, 2011 If you haven’t noticed it at the gas pump, you’ve seen it in the grocery store. The prices of some products, most notably food and oil, are going up. In March, the Consumer Price Index (CPI), which measures the average change in prices over time of goods and services, rose 0.5 percent. […]
Read more- April 21, 2011
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Obamas’ Federal Tax Bill: $453,770
April 19th, 2011 President Barack Obama and his wife, Michelle, paid $453,770 in federal income taxes in 2010 on $1.7 million in income, according to tax returns the White House released on Monday to coincide with the national income-tax filing deadline. Mr. Obama’s income and tax payments fell sharply from 2009, mainly because of declining […]
Read more- April 20, 2011
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Taxpayers Set e-File Record as Tax Deadline Approaches; More than 100 Million e-Filed Returns So Far This Year
April 18th, 2011 With the tax deadline arriving tonight, the Internal Revenue Service announced taxpayers set a record this weekend for e-filed tax returns, topping 100 million for the first time. The IRS saw a late surge of e-filed returns over the weekend. By early Monday morning, the IRS had received nearly 101 million e-filed […]
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