email schemes, IRS, tax season, GYF, Grossman Yanak & Ford LLP, Pittsburgh, CPAs

E-Mail Schemes Surging in 2016 Tax Season!

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The Internal Revenue Service recently renewed a “consumer alert” for e-mail schemes after seeing an approximate 400 percent surge in phishing and malware incidents so far this tax season. The identified emails are designed to trick taxpayers into thinking that they reflect official communications from the Internal Revenue Service or others in the tax industry, […]

audits, s corporations, partnerships, IRS,GYF, Grossman Yanak & Ford LLP, Pittsburgh, CPAs

IRS Steps Up Audits of S Corporation and Partnerships

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According to recently released Internal Revenue Service examination percentages for the last decade, S corporations and partnerships are being audited at higher rates for fiscal year 2015 (October 1, 2014 through September 30, 2015). Meanwhile, large C corporations (those with assets of $10 million and higher) are being audited less frequently and are currently at […]

patent infringement, intellectual property, idea

Patent Infringement Battle Ends

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After seven years of fighting, a settlement was reached in a patent infringement case between Marvell Technology Group (Marvel) and Carnegie Mellon University (CMU). Previous Court decisions had awarded royalties and damages to CMU, but were appealed by Marvel. In this final settlement, Marvel has agreed to pay $750 million in damages to CMU with […]

affordable care act, deadline, GYF, Grossman Yanak & Ford LLP, Pittsburgh, CPAs

Deadline Fast Approaching to Furnish Statements Required by the Affordable Care Act

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On March 10, 2014, the U.S. Department of the Treasury and the Internal Revenue Service published final rules to implement the information reporting provisions for insurers and certain employers under the Affordable Care Act that take effect, for the first time, in 2015. Employers who provide minimum essential coverage during a calendar year are required […]

Obama, final budget, congress, GYF, Grossman Yanak & Ford LLP, Pittsburgh, CPAs

President Obama releases his FY 2017 and final budget proposal

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President Barack Obama released, and sent to Congress, the last proposed budget of his Presidency on Tuesday, February 9th to mixed reviews. In an initial briefing by a Treasury department official, it was noted that, ‘the proposals contained in the Treasury Department’s ‘General Explanations of the Administration’s Fiscal Year 2017 Revenue Proposals’ (known as the […]

tax refund, IRS, GYF, Grossman Yanak & Ford LLP, Pittsburgh, CPAs

Where’s My Refund?

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The Internal Revenue Service issues ninety percent of claimed income tax refunds within 21 days of filing. Fortunately, instead of taxpayers crossing their fingers and hoping for their refund to hit their bank account or land in their mailbox in the expected time frame, there are ways to check up on the status of refund […]

senate hearing, ESOP tax benefit, S corporations, GYF, Grossman Yanak & Ford LLP, Pittsburgh, CPAs

Recent Senate Hearing Reinforces Interest in Extending ESOP Tax Benefit to S Corporations

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The Senate Finance Committee in Congress held a recent hearing at the 215 Dirksen Senate Office Building titled: “Helping Americans Prepare for Retirement: Increasing Access, Participation and Coverage in Retirement Savings Plans.” Appearing as witnesses at the hearing were: Dr. Alicia Munnell Peter F. Drucker Professor of Management Science, Director Boston College Carroll School of […]

tax executives, presentation, tax reform, GYF, Grossman Yanak & Ford LLP, Pittsburgh, CPAs

Tax Executives Institute Presentation

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Bob Grossman and Shawn Firster of the GYF Tax Services Group presented a seminar entitled Tax Reform in the 2016 Presidential Campaign on 2-3-16 to the Tax Executives Institute. For tax reform information broken down by each candidate and their respective plans, please find the presented materials under “Other Seminars” for further details.