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Latest Tax Alerts

Check out the latest tax alert section of our website, full of links and articles for professional and personal tax news. Read More

Supreme Court Takes up Challenge to ACA Premium Assistance Tax Credit

Between now and late June, the U.S. Supreme Court is expected to rule on an important provision of the Patient Protection and Affordable Care Act: the Code Sec. 36B premium assistance tax credit. The Supreme Court has heard oral arguments in King v. Burwell, ...
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April 2015
Compliance Calendar

This calendar helps keep you, as an individual or business, aware of your tax filing/reporting deadlines.
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IRS Auditors Place More Focus on Partnerships as use of the Entity Increases

IRS officials, including Faris Fink, then Commissioner of the Small Business and Self-Employed Division, announced in 2013 that the IRS would increase its scrutiny of partnership entities. Indeed, the IRS’s audit statistics for 2014 have shown that Fink’s prediction was accurate. While the overall audit rate for all types of businesses fell from 0.61 percent in Fiscal Year (FY) 2013 to 0.57 percent for FY 2014, the audit rate for partnerships has increased.

Filing season

The IRS’s recently released Winter 2015 Statistics of Income Bulletin underscores why IRS officials are becoming increasingly concerned about partnerships. The bulletin-which highlights several trends including partnership numbers-shows that the number of partnerships has been growing recently by 3.1 percent, year over year. Not only this, but... Read More

Tax Reform Talks Continue in Washington, Public Input Sought

Tax reform percolates in Washington as the new Congress and the White House continue discussions over the scope and reach of tax legislation this year. Administration officials, lawmakers and Congressional staffers have signaled that off-the-record discussions have dealt with some hefty tax reform proposals but, so far, have released few details of these discussions. At the same time, Senate tax writers have opened up the tax reform process to public input.

Tax reform discussions

The White House and the GOP-controlled Congress have laid out broad tax reform proposals in recent weeks. As in past years, President Obama has proposed to link corporate tax reform with individual tax reform. In exchange for a lower corporate tax rate, the President is asking business taxpayers to give up some unspecified tax breaks. The President’s individual tax reform proposals do not... Read More