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April 10, 2014

Treasury Works with OECD on Base Erosion and Profit Shifting

The United States is working with other countries on multinational corporate tax issues, including the increasingly thorny issue of base erosion and profit shifting.

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Posted by Michael Cohn at 05:49PM | Comments (0)

April 9, 2014

Accountants Can Help Root out Cybercrime

Cybercrime is on the rise, and accountants are in a position to help their clients take steps to prevent it.

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Posted by Michael Cohn at 05:31PM | Comments (0)

April 8, 2014

Marketplace Fairness Act Stalls in Congress

The Marketplace Fairness Act, which was supposed to finally settle the question of how states can tax online sales, appears to have stalled in Congress after passing the Senate last year.

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Posted by Michael Cohn at 11:27AM | Comments (0)

April 4, 2014

Protecting Client Files from Prying Eyes

Accountants have a duty to make sure their clients' confidential financial files and tax forms are kept safe, and fortunately there are some good products on the market for doing just that.

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Posted by Michael Cohn at 04:17PM | Comments (0)

April 2, 2014

H&R Block Names Socrates as Greatest Hipster in History

H&R Block has been holding an online contest soliciting votes on who is the “Greatest Hipster in History,” and the winner, for some reason, seems to be the ancient Greek philosopher Socrates.

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Posted by Michael Cohn at 02:18PM | Comments (0)

March 31, 2014

Taxes Increased on Most Taxpayers Last Year

Whether they realize it or not, taxes ended up going up for most taxpayers last year, despite the extension of the Bush tax cuts at the beginning of last year.

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Posted by Michael Cohn at 06:30PM | Comments (0)

March 28, 2014

IRS’s Virtual Currency Guidance May Benefit Bitcoin Users

The guidance issued by the Internal Revenue Service this week treating virtual currencies such as Bitcoin as property rather than currency for federal tax purposes may end up helping Bitcoin investors, even though it means Bitcoin users will need to be extra careful to report their transactions from now on.

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Posted by Michael Cohn at 04:50PM | Comments (0)

March 24, 2014

Multiple FATCA Deadlines Approaching

Foreign banks and other financial institutions are facing a number of deadlines this year for complying with the Foreign Account Tax Compliance Act, or FATCA, which is forcing many of them to wake up belatedly to the complex demands thrust upon them by the new reporting regime.

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Posted by Michael Cohn at 02:08PM | Comments (1)

March 19, 2014

WebFilings CEO Defends Usefulness of XBRL

A majority of public companies may be able to avoid the need to file their financial reports using Extensible Business Reporting Language, or XBRL, technology if a congressional bill gets signed into law.

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Posted by Michael Cohn at 12:17PM | Comments (1)

March 18, 2014

CCH Provides Tax Tips for March Madness Bracketologists

CCH is warning participants in the NCAA college hoops March Madness brackets that any of their winnings in the office pool will be subject to taxes.

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Posted by Michael Cohn at 06:17PM | Comments (0)


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