Congress takes first steps to tax reform
Tax reform continues to be highly touted in Congress as lawmakers
from both parties call for simplification of countless complex
rules, overhaul of tax rates, and more. At times this year,
IRS focuses on new partnership audit rules
Legislation enacted in 2015 provides new rules for IRS partnership
audits. The new rules are a drastic departure from current rules
and the IRS is hopeful that the rules will simplify the audit
How do I? Set up a like-kind exchange
Under Code Sec. 1031, a taxpayer can make a tax-free exchange of
property held for productive use in a trade or business or for
investment. The exchange must be made for other property that the
April 2016 tax compliance calendar
As an individual or business, it is your responsibility to be aware
of and to meet your tax filing/reporting deadlines. This calendar
summarizes important federal tax reporting and filing data for
New challenges for 2014 year-end tax planning
Before the fast-approaching new year, it’s important to take some
time and reflect on year-end tax planning. The weeks pass quickly
and the arrival of January 1, 2015 will close the doors to som...
How Do I? . . . Deduct student loan interest
There are tax benefits for which you may be eligible if you are
paying education expenses for yourself or an immediate member of
your family. In the rush to claim one of two education tax credits
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