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Tax News

  • Is the IRS Targeting Partnerships?
    Audits of partnerships rose in 2015 as the IRS shifted agents away from C corporations and toward pass-through entities, according to a recent enforcement report. In addition, Congress has enacted legislation that will revise the audit rules for partnerships. The new rules may be complex, but one thing is certain: Read More
  • How to Claim Lesser-Known Breaks for Business Charitable Donations
    Recent legislation has made permanent some lesser-known tax breaks for charitable donations made by businesses, such as food inventory donations and qualified conservation contributions of real property interests. The resurrection of these tax breaks was also retroactive, so your company's 2015 tax return may be affected. Here are the details Read More
  • Green Tax Breaks for Individuals
    Recent legislation extends the personal income tax credits for certain energy-efficient home improvements and equipment purchases, as well as purchases of qualifying electric vehicles. So, these eco-friendly expenditures can save both energy and taxes. Here are the ins and outs about which costs qualify and how to claim these federal Read More
  • Could Your Business Benefit from the Work Opportunity Credit?
    If you plan to hire new employees in 2016 and you select applicants from certain targeted groups, you could be eligible for a significant tax break. Here are the details on how to take advantage of the Work Opportunity credit, which was retroactively renewed last year and extended through 2019. Read More
  • Five Last-Minute Moves to Lower Your 2015 Tax Bill
    Tax Day is right around the corner. Many people delay filing their taxes until the last minute, especially if they expect to write checks to the U.S. Treasury Department. Fortunately, there are a few simple strategies that qualifying individuals and small business owners can still use to lower their 2015 Read More
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