by apexcpas | Jul 4, 2018 | Tax Planning
Life insurance and taxes can be a mind-numbing and confusing combination for most people. Normally, the death benefit received from a life insurance policy is not considered taxable income. However, income can be taxable when you cash in the policy during your...
by apexcpas | Jul 4, 2018 | Tax Planning
The IRS has launched a new online search tool – Exempt Organizations Select Check – to help users more easily find information about tax-exempt organizations. You can now go to one location on IRS.gov to search for the following information:...
by apexcpas | Jul 4, 2018 | Tax Planning
If you operate a business and you paid any service provider at least $600 for services during 2011, you must provide Form 1099-MISC, Miscellaneous Income, to the provider no later than Jan. 31, 2012. However, if the provider is a corporation, you generally do not...
by apexcpas | Jul 4, 2018 | Tax Planning
Many young girls play with dolls. Many young boys play with action figures. Is there a gender bias in the tax law? Most toys – dolls and action figures included – are manufactured overseas and imported into the United States. The Harmonized Tariff Schedule...
by apexcpas | Jul 4, 2018 | Tax Planning
The IRS has issued a notice providing interim guidance on reporting information to employees about the cost of their group health insurance coverage. This guidance restates and updates earlier guidance issued late in 2010. Beginning in tax year 2011, the Affordable...