November 01, 2010
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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 […]
Read more- October 29, 2010
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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 […]
Read more- October 28, 2010
- Andrew Presti
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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 […]
Read more- October 28, 2010
- Andrew Presti
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IRS Starts Notifying 1 Million Tax Preparers of Need to Register Online
The Internal Revenue Service Oct. 25 began notifying about 1 million tax return preparers that they need to register with the IRS and renew their preparer tax identification number (PTIN) as part of the IRS’s new tax preparer regulatory regime. The IRS will be sending approximately 125,000 notification letters each week for eight weeks, IRS […]
Read more- October 27, 2010
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Key Tax Breaks at Risk as Panel Looks at Cuts
Sacrosanct tax breaks, including deductions on mortgage interest, remain on the table just weeks before the deficit commission issues recommendations on policies to pare back with the aim of balancing the budget by 2015. The tax benefits are hugely popular with the public but they have drawn the panel’s focus, in part because the White […]
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