Tax News

  • The ABCs of Education Tax Credits

    “Education’s purpose is to replace an empty mind with an open one.” – Malcolm Forbes Forbes, of course, knew a thing or two about business and taxes. It could be said that we all need to be, well, better educated about education tax credits. So before it’s time to head back to the classroom, let’s…

  • IRS Restores Online IP PIN Tool

    The Internal Revenue Service has restored its “Get an IP PIN” tool to the IRS.gov website, after concerns about security forced its removal.

  • Tax Breaks for U.S. Military

    Members of the U.S. Armed Forces deserve the thanks of the nation for their service, and one small way we can show our thanks is by giving those who serve a small measure of tax relief.

  • Massachusetts Senate Considers AirBnB Tax to Help Finance Earned Income Credit

    The Massachusetts State Senate is looking at a bill that would install a tax on rooms rented through AirBnB to help the state pay for an increase in its Earned Income Credit.

  • IRS Unveils Application Process for Certified Professional Employer Organization Program

    If your firm handles payroll administration as well as tax reporting for your business clients, you may be interested in becoming a Certified Professional Employer Organization (CPEO) through the Internal Revenue Service.

  • Study finds Uber, Airbnb are Costing U.S. Taxpayers Billions in Unpaid Tax

    A new study by an independent tax policy group says the hottest thing in self-employment is sliding billions of dollars under the radar of the IRS.

  • What to Do About Your Missing W-2

    While the majority of taxpayers receive a W-2 before the beginning of January, sometimes it just doesn’t work out that way. Luckily – since it’s needed for filing an accurate return – the IRS has advice for people who are missing their Form W-2.

  • Supreme Court Upholds Federal Subsidies For The ACA

    By a vote of 6-3, the United States Supreme Court (SCOTUS) upheld the Patient Privacy and Affordable Care Act (ACA), ruling that the intent of the law was to ensure nationwide health care coverage.  In doing so, the Court rejected the legal challenge to the law based on the wording of one section related to…

  • Why Is My Refund Lower Than Anticipated?

    If you have certain kinds of debt, including federal and state back taxes, child support, and student loans, then the Bureau of the Fiscal Service (BFS) – part of the Department of Treasury – can use your tax refund to offset that debt.

  • The Premium Tax Credit: Do You Qualify?

    April 15 is just around the corner, but there is still time to make sure clients have submitted the proper forms to secure the credits they are due. The IRS recently published a tax tip checklist to help taxpayers determine if they are eligible to receive the Premium Tax Credit (PTC). If a client –…