Category Archives: Tax
IRS Guidance Permits Same-Sex Couples to Recalculate Tax Treatment on Prior Gifts or Bequests
By Surgent CPE
The IRS posted guidance (2017-15) permitting same-sex married couples to recalculate the prior transfer tax treatment of gifts and bequests made before the U.S. Supreme Court deemed Defense of Marriage Act (DOMA) unconstitutional.
As you prepare to file taxes for your clients and yourselves this tax season, we’ve highlighted the most important tax court decisions, tax law changes, and IRS rulings that will impact your filings.
No business owner wants to be faced with an IRS audit, and some may never have to, but if you receive a tax audit notice, be prepared with these 5 tips.
Trump’s Vow to Abolish The Alternative Minimum Tax: Why This Could Mean More Cash Flow for Families
By Surgent CPE
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.
In Honor of National Tax Security Awareness Week, is Your Firm Taking Preventative Steps Against a Cyber Attack?
By Surgent CPE
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?
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.
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
By Surgent CPE
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.
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.
So many people complained Form 1095-C that the IRS extended deadlines by two months. Here is some information to help understand the form.
