President-elect Donald Trump has proposed eliminating the Alternative Minimum Tax (AMT), a parallel tax that operates alongside the regular income tax. Abolishing this tax could mean more cash flow for families, the population often most often hit hardest with the AMT.
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In Honor of National Tax Security Awareness Week, is Your Firm Taking Preventative Steps Against a Cyber Attack?
On the heels of tax filing season, this IRS effort aims to help consumers protect themselves and their financial data against identity theft and tax fraud. But what can firms do to protect consumers, and more importantly, their businesses?
Form 1095-C Deadlines for Reporting to Employees Extended Again This Year
In a surprising move, the Internal Revenue Service (IRS) issued Notice 2016-70 this week, extending the deadline for employers to furnish form 1095-C to employees and extending the good faith transition relief to the 2016 reporting year.
IRS Warns Tax Professionals of New Targeted Scam
The IRS is warning tax professionals about a scam involving email and IRS e-services. The scam is actually a variation of a prior scam, where tax professionals receive an email asking them to update their accounts.
I Can Deduct That? A Few Tales of Tax Creativity To Help You Wrap Up Busy Season With A Chuckle
Accounting professionals understand the importance of making the correct call on what taxpayer deductions are allowable. Tax preparers are accustomed to fielding hundreds and even thousands of client questions each busy season about what is and is not deductible.
Tax Season Recap – A Look Back At The 2016 Busy Season
Three calendar days later than usual, let’s take a few moments to consider a few of the high and low lights of the year as we say goodbye to busy season 2016.
Don’t Understand IRS Tax Form 1095-C? You’re Not Alone
So many people complained Form 1095-C that the IRS extended deadlines by two months. Here is some information to help understand the form.
Tax Season Is Officially Kicked Off – Are Your Rookies Ready to Become MVPs?
Surgent’s webinars on Preparing Individual Tax Returns can make sure that even the most junior members of your staff are ready for tax season.
Tax Extenders are Permanent Now: Is it All Good News?
The Protecting Americans Against Tax Hikes (PATH) Act of 2015 made many of the former so called ‘tax extenders” permanent and extended others a few more years.
Congress Moves to Make Tax Extender Provisions Permanent – What Does It Mean For You?
Just before midnight on December 15th, 2015, Congress posted the “Protecting Americans from Tax Hikes Act of 2015” legislation.