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The Minnesota Society of Certified Public Accountants recently surveyed its CPA members in public accounting on the most outrageous tax deductions clients tried to take on their tax returns. The resulting list shows that, more often than not, clients just don’t know which deductions are allowed.
January 8
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Highlights of some of our favorite tax-related blogs from the past week.
January 7 -
The Internal Revenue Service is giving educational institutions a pass if they fail to include the correct taxpayer identification number on a students tuition statement form.
January 7
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Ohio accounting firm Whalen & Company CPAs is starting a new venture this year by merging in the QuickBooks consulting firm Simplibooks and launching a new tax preparation service it is calling Simplitax.
January 7 -
Having played golf once in my life during my days at Ft. Bragg, N.C., Im not exactly an avid golfer. But as two golf courses in North Carolina discovered last month, its getting tougher for them to successfully claim a charitable contribution deduction for a conservation easement.
January 7 -
Machen McChesney has acquired Wolf & Taunton, a Montgomery Ala.-based accounting firm, effective Dec. 1, 2015.
January 7 -
TaxAct has released the 2015 Preparers Editions of its tax preparation software.
January 7 -
The Internal Revenue Service has dropped a proposed regulation giving tax-exempt organizations the option of providing the Social Security Numbers of their donors.
January 7 -
Former billionaire entrepreneur Samuel Wylys difference of opinion with the Internal Revenue Service could turn an offshore fortune into an onshore fraud if the agency gets its way.
January 7 -
The Swiss bank used by the convicted con man known as The Wolf of Wall Street agreed to pay almost $188 million to avoid prosecution for helping U.S. clients avoid taxes through such methods as providing untraceable gold bars and cash.
January 7
