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Tax Reform Outlook Remains Uncertain

Lawmakers across party lines agree changes to the Tax Code are needed but appear increasingly at odds with one another over how best to tackle such reform and what progress is being made to achieve it. Add to that mix…
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House Approves ACA Repeal and Replacement Bill

The House voted along party lines on May 4 to approve a repeal and replacement plan for the Affordable Care Act(ACA).  Follow the link below for details.. ACA Repeal and Replacement – 5-5-17

Trump’s Tax Reform Priorities Unveiled

By Paul Bonner The White House on Wednesday issued President Donald Trump’s goals and key features for tax reform, including slashed corporate tax rates, flattened individual marginal income tax brackets, and repeal of the estate and alternative minimum taxes. Trump…
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Form 990: Late filing penalty abatement

BY VANI MURTHY, CPA Many small and medium-size not-for-profit organizations are mostly run by volunteers, and the staff of these charities may forget or inadvertently fail to timely file Form 990, Return of Organization Exempt From Income Tax, Form 990-EZ,…
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IRS issues 2017 car and truck depreciation limits

By Sally P. Schreiber, J.D. The IRS on Friday issued the 2017 inflation adjustments to the depreciation limitations and lease inclusion amounts for certain automobiles under Sec. 280F (Rev. Proc. 2017-29). This year’s guidance includes figures for vehicles that are…
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Tax Reform in the 115th Congress?

  Tax reform has been actively studied and discussed for the past six years by the 112th, 113th and 114th Congresses. At the start of the 112th Congress in 2011, Congressman Dave Camp (R-MI), then chair of the House Ways…
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The IRS Releases their annual Dirty Dozen tax scams

The Dirty Dozen represents the worst of the worst tax scams.   Compiled annually, the “Dirty Dozen” lists a variety of common scams that taxpayers may encounter anytime but many of these schemes peak during filing season as people prepare…
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FLSA overtime rule effective December 1 blocked by court

November 22nd, 2016  |  David Stephanides Late on November 22, a federal district court in Texas enjoined nationwide implementation of the Labor Department’s final overtime rule. The rule was to go into effect on December 1. Judge Amos Mazzant, ruling…
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