ARTICLES

Tax-exempt organizations that distribute publications to their members should be aware of a recent Tax Court decision.  In this case, the tax-exempt organization published two magazines that were distributed to dues-paying members and a small...

The issue of who is an employee and who is an independent contractor continues to challenge businesses, the IRS and the courts. Now the IRS has launched a new program that will enable many employers to resolve past worker classification issues and...

A court of appeals has upheld a Tax Court decision that a sausage manufacturer received ordinary income, rather than capital gain, when it settled a lawsuit involving trade secrets. In the early 1980s, C&F Packing Co., Inc. (C&F), developed...

The IRS has released a summary of the rules governing under what conditions retirement plan distributions are subject to withholding. The summary is contained in the Summer 2011 edition of the IRS Retirement News for Employers. Distributions from...

On Sept. 1, 2011, the IRS announced that it is granting taxpayers whose preparers were affected by Hurricane Irene until Sept. 22 to file returns normally due Sept. 15. Your preparer must be located in an area that was under an evacuation order or...

With children returning to school, cash-strapped parents may be looking for tax savings in their back-to-school expenditures. Listed below are a few tax-saving tips, as well as a few items that do not offer a tax break, although you may wish they...

The IRS has attempted to clear up a dilemma that has perplexed businesses that desire to treat certain workers as independent contractors rather than employees. Employers are generally required to withhold and pay employment taxes (FICA, FUTA and...

As is most often the case, the Tax Court has once again concluded that a taxpayer must suffer the tax consequences of the transaction he entered into – not the transaction he wished he had entered into – after the IRS pointed out the tax result....

Last minute filers are rightly concerned that the IRS may not receive their documents by the due date. And in most cases, there is no way to prove when the IRS actually receives your documents. Penalties can result or elections may be invalid, if...

Many people plan a yard or garage sale while the weather is nice. Have you ever wondered how taxes affect these events? In most cases, these types of sales involve personal items that you've owned and used for a number of years. Since the selling...

Businesses that reimburse employees for away-from-home travel costs using a per-diem amount, rather than the actual costs, should take heed of a new announcement from the IRS. The IRS has announced that it plans to discontinue one of the...

The Department of the Treasury announced that 17 community banks across the country received a total of $214 million as part of the next wave of funding provided through the Small Business Lending Fund (SBLF). The SBLF, which was established as...