January 06, 2011
Andrew Presti- Author's Bio
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Don’t Miss These Tax Changes
Confused about what to do as you gather your boxes of receipts and prepare for the dreaded tax deadline in the coming months? This past year has brought several tax changes affecting small business owners, capped by President Obama’s Dec. 17, signing of the tax-cut extension law. Even as you prepare your 2010 taxes, consider […]
Read more- January 05, 2011
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IRS Kicks Off 2011 Tax Season with Deadline Extended to April 18
The Internal Revenue Service today opened the 2011 tax filing season by announcing that taxpayers have until April 18 to file their tax returns. The IRS reminded taxpayers impacted by recent tax law changes that using e-file is the best way to ensure accurate tax returns and get faster refunds. Taxpayers will have until Monday, […]
Read more- January 04, 2011
- Andrew Presti
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States make gains in taxes
Tax collections are surpassing projections, the clearest sign yet that state and local government finances are on the mend as the economy improves. Sharp rises in tax collections since July, especially in the last three months, have boosted tax revenues to levels not seen since 2008, a review of tax reports shows. Including federal aid, […]
Read more- January 03, 2011
- Andrew Presti
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IRS Exempts CPA-Supervised Non-Signers From New Preparer Rules
On Thursday, the IRS released guidance on the implementation of new regulations governing tax return preparers (Notice 2011-6), and provided an exception to its return preparer regulation plan for non-signing preparers supervised by a CPA, attorney, enrolled agent or other Circular 230 practitioner. The notice also provides an exception for individuals who prepare returns that […]
Read more- December 21, 2010
- Andrew Presti
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Extension of the American Opportunity Credit in the 2010 Tax Relief Act
The recently enacted “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” includes a two-year extension of the American Opportunity tax credit for college costs. Added to the tax code in 2009 as a temporary replacement of the previous Hope tax credit, the American Opportunity credit both increased the tax relief available for […]
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