IRS Cracks Down on Identity Theft

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There is perhaps, no bigger problem facing the users of technology, including the Internal Revenue Service, than identity theft. Identity theft places a burden on its victims and presents a challenge to businesses, organizations and government agencies, including the IRS. Tax-related identity theft occurs when someone uses a stolen social security number to file a […]

IRS Clarifies Tangible Property Regulations

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The IRS has released new answers to Frequently Answered Questions (FAQs) on the final tangible property regulations, including information on simplified procedures for small business taxpayers. The FAQs provides guidance on the de minimis safe harbor election, which allows many businesses to do away with capitalizing and depreciating (or claiming a Section 179 expense) for […]

Governor Wolf Proposes New PA Budget

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In a move that confirms campaign promises by newly-elected Governor Wolf, on March 3, he proposed a 2015 /2016 budget for the Commonwealth of Pennsylvania. Wolf’s budget sets out the foundation of a $3 billion plan to force what he labels “bold change.” The mix of tax initiatives in the proposal include some interesting “tradeoffs” […]