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State governments continue to seek additional revenue by aggressively pursuing taxes on out-of-state business transactions. It is important to understand the concept of “nexus” and how it may affect taxes
On August 8th, 2016 the US Tax Court issued an opinion which denied a Taxpayer’s deduction for unreimbursed employee business expenses as well as his ability to claim the foreign
More than a year after the proposed changes were presented in an exposure draft in 2015, the Financial Accounting Standards Board (FASB) issued the final Accounting Standards Update (ASU) 2016-14,
A tax problem often surprising taxpayers is the onerous tax liabilities associated with the receipt of a retirement plan distribution followed by a failure to “roll over” the proceeds to
The IRS has alerted taxpayers who made employment tax deposits on May 31, 2016, or semi-weekly employment tax deposits on June 2, 2016, that they may receive notices that their
The IRS is beginning to win its fight against tax refund fraud. Federal prosecutors have tracked down the suspects in a Pittsburgh case in which several identity thieves stole data
The use of rental losses to offset other types of taxable income has been severely limited since the passive activity rules were added to the Internal Revenue Code in 1986.
In a recent Memorandum decision, the Tax Court found that a couple was not permitted to take a tax deduction on their federal income tax returns for certain expenditures that
After an extended period of threatening to do so, the Internal Revenue Service issued proposed regulations affecting the valuation of closely-held business interests for gift and estate tax purposes. The
As they finished their time with GYF and prepared to head back to school, we asked our summer interns to share their thoughts about their experiences. Click on the links
Internet crime and identity theft are two major threats faced by accounting firms in today’s operating environment. New technology is released and implemented every day to allow CPAs to better
Greg McGuire Accounting – Penn State University If you’re looking to staple documents and fetch people coffee, this is not the place for you. If you’re looking to learn more
