Podcasts

  • Drake Knowledgebase – Powerful Resource

    Drake Knowledgebase – Powerful Resource At Drake, we pride ourselves on providing world-class customer service.  To do this, we have to provide our customer service representatives with in-depth training and a variety of tools and troubleshooting resources.  One of those resources has become very valuable over the years, and you may not know it, but…

  • IRS: Michael Jackson Assets Undervalued

    The Internal Revenue Service has filed documents in US Tax Court claiming that Michael Jackson’s estate has severely undervalued his image and music catalog, claiming that the estate owes an extra $505 million in taxes, plus $197 million in penalties.  While the Jackson estate’s executors valued his net worth at a little over $7 million…

  • IRS Statistics on individual Tax Returns for 2011

    The Internal Revenue System has released its statistics on Tax Year 2011 individual returns filed in 2012.  The data indicates some improvement in the economy after the slower years of 2009 and 2010, though some sluggishness remains.  In general, the IRS notes: 

  • Journey to Success

    A tax professional recently elected mayor of his town shares the story of his journey to success. Pat DeBlasio, a tax professional and political leader, was recently elected mayor of Bridgeville, Pennsylvania.   In his new position, Pat will deal with the thorny issues of passing tax simplification laws and removing nuisance taxes such as the…

  • Koskinen Approved By Senate Committee to Head IRS

    John Koskinen, the 74-year-old multimillionaire with a long history of accomplishments, has been approved by the US Senate Committee on Finance to become the new Commissioner of the Internal Revenue Service.  The action clears the way for Koskinen to be voted upon by the full Senate before it recesses for the year.  While he has…

  • IRS Releases Final Rule on Net Investment Income Tax Under the ACA

    The IRS has released final regulations under section 1411 of the Internal Revenue Code to provide guidance on the general application of the Net Investment Income Tax and the computation of Net Investment Income. The regulations affect individuals, estates, and trusts whose incomes meet certain income thresholds.  The tax does not apply to a nonresident…

  • IRS Issues Rules on Additional Medicare Tax

    After receiving limited input during the required comment period, the Internal Revenue Services has issued the final regulations relating to Additional Hospital Insurance Tax on income above threshold amounts (“Additional Medicare Tax”), as added by the Affordable Care Act. 

  • Report: IRS Develops ACA Health Care Premium Tax Credit System

    The Internal Revenue Service (IRS) has completed development and testing of software to calculate the Advanced Premium Tax Credit and the Remainder Benchmark Household Contribution (RBHC) which is the household’s contribution towards the monthly insurance premium.  In a report on the system, the Treasury Inspector General for Tax Administration (TIGTA) concludes that the IRS now…

  • Accounting Fraud and Waste Is Standard Procedure at the Pentagon

    The Pentagon routinely commits accounting fraud in order to balance its books with the U.S. Treasury’s, according to a new report from Reuters. The practice, which apparently has been standard procedure for decades, effectively conceals billions of dollars in waste and fraud from prying American eyes. 

  • Salaries on the Rise for Accountants and Financial Analysts

    The staffing company Robert Half is projecting a 3.4 percent uptick in salaries for accountants next year, according to the 2014 edition of its annual salary guide, reports Accounting Today.  That’s compared to a 3.7 percent increase across all sectors for which the staffing company does recruiting. However, some jobs are expected to earn even…