July 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 individuals, businesses and other taxpayers for the month of July 2016. July 1 Employers. Semi-weekly depositors must deposit employment [...]

July 2016 tax compliance calendar 2017-03-01T00:30:40+00:00

Taxpayer protections, IRS oversight bills advance in Congress

Taxpayer protections, IRS oversight bills advance in Congress Responding to growing concerns over the scope of tax-related identity theft, the House has approved legislation to give victims more information about the crime. The House also took up a bill expanding disclosure of taxpayer information in cases involving missing children and the Ways and Means Committee [...]

Taxpayer protections, IRS oversight bills advance in Congress 2017-03-01T00:30:40+00:00

IRS prepares to launch voluntary certification program for PEOs

IRS prepares to launch voluntary certification program for PEOs The IRS is set to launch its new voluntary certification program for professional employer organizations (PEOs), also known as employee leasing organizations, on July 1, 2016. A recently-released guidance package describes how PEOs can obtain certification to become “certified PEOs” (CPEOs).   PEOs An employer may [...]

IRS prepares to launch voluntary certification program for PEOs 2017-03-01T00:30:40+00:00

IRS gearing up for revived private tax collection

IRS gearing up for revived private tax collection The IRS is gearing up to outsource some taxpayer collection accounts to private collection agencies. Legislation passed in 2015 directed the IRS to resume working with private collection agencies. The revived program is expected to operate in a similar manner to past ones, with emphasis on taxpayer [...]

IRS gearing up for revived private tax collection 2017-03-01T00:30:40+00:00

How do I…calculate the EITC for members of the U.S. military?

How do I…calculate the EITC for members of the U.S. military? To claim the EITC, a taxpayer must satisfy two tests with respect to earned income. First, the taxpayer must have some earned income. Additionally, the taxpayer’s earned income must fall within certain ranges as the credit is subject to income phaseout. As the taxpayer's [...]

How do I…calculate the EITC for members of the U.S. military? 2017-03-01T00:30:40+00:00

June 2016 Tax Compliance Calendar

June 2 Employers. Semi-weekly depositors must deposit employment taxes for May 25–27. June 3 Employers. Semi-weekly depositors must deposit employment taxes for May 28–31. June 8 Employers. Semi-weekly depositors must deposit employment taxes for Jun 1–3. June 10 Employers. Semi-weekly depositors must [...]

June 2016 Tax Compliance Calendar 2017-03-01T00:30:40+00:00

Filing season closes; cybersecurity and customer service top priorities for IRS

Filing season closes; cybersecurity and customer service top priorities for IRS The 2016 filing season has closed with renewed emphasis on cybersecurity, tax-related identity theft and customer service. Despite nearly constant attack by cybercriminals, the IRS reported that taxpayer information remains secure. The agency also continued to intercept thousands of bogus returns and prevent the [...]

Filing season closes; cybersecurity and customer service top priorities for IRS 2017-03-01T00:30:43+00:00

Don’t overlook new-for-2016 enhancements to certain tax incentives

Don’t overlook new-for-2016 enhancements to certain tax incentives Passage of the “Tax Extenders” undeniably provided one of the major headlines – and tax benefits – to come out of the Protecting Americans from Tax Hikes Act of 2015 (PATH Act), signed into law on December 18, 2015. Although these tax extenders (over 50 of them [...]

Don’t overlook new-for-2016 enhancements to certain tax incentives 2017-03-01T00:30:43+00:00

How do I? Determine a residential tax credit for solar panels

How do I? Determine a residential tax credit for solar panels Individual taxpayers may claim a nonrefundable personal tax credit for qualified residential alternative energy expenditures. The residential alternative energy credit generally is equal to 30 percent of the cost of eligible solar water heaters, solar electricity equipment, fuel cell plants, small wind energy property, [...]

How do I? Determine a residential tax credit for solar panels 2017-03-01T00:30:43+00:00

May 2016 tax compliance calendar

May 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 individuals, businesses and other taxpayers for the month of May 2016. May 2 Employers. File Form 941 for the [...]

May 2016 tax compliance calendar 2017-03-01T00:30:43+00:00