Tax season

Preparing your office for the race to April 15

The Internal Revenue Service announced that it anticipates opening the 2015 filing season as scheduled in January.

Intuit has unveiled a free online resource to help tax professionals understand and prepare for the tax implications of health-care reform.

The Treasury Department and the Department of Health and Human Services are getting ready for the 2015 tax-filing season and the onslaught of questions they anticipate about the Affordable Care Act.

Once busy season begins, you’ll have precious little time to consider whether your accounting firm has made the right moves to build client relationships and grow in 2015.

Check out the digital edition of the January 2015 issue of Accounting Today.

Special Report

Tax professionals are looking forward to a better tax season this year, according to a recent survey – or at least one that’s no worse.

The Internal Revenue Service reportedly sent over 2,500 letters last month to tax preparers warning about potential errors that the IRS spotted on the Schedule C they filed for their sole proprietor business clients.

The Internal Revenue Service announced that it anticipates opening the 2015 filing season as scheduled in January.

So, what are you forgetting about preparing for next season?

The Internal Revenue Service is joining with several national tax and accounting organizations to give taxpayers new options and tips on selecting reputable tax professionals and avoiding unscrupulous preparers.

The IRS is freezing hiring, stopping most overtime pay and warning that it won’t answer about half the calls it will receive during the upcoming tax-filing season.

The $1.1 trillion spending bill passed by Congress this week and signed into law by President Obama on Tuesday contains a provision directing the Treasury Department to implement uniform standards for taxpayers claiming refundable credits such as the Earned Income Tax Credit to stem improper payments.

The Internal Revenue Service received fewer phone calls from taxpayers this year than in recent years, according to a new government report, but the percentage of callers seeking help who received it remained low while wait times remained high compared to prior years.

Affordable Care Act-related tax issues await CPAs and those who prepare their own returns this upcoming tax season, according to the National Conference of CPA Practitioners.

Congress has cut the Internal Revenue Service’s budget once again, reducing the tax agency’s fiscal year 2015 budget by 3 percent compared to this year’s funding level.

The other day I spent an hour drafting a long email detailing out the errors I picked up on in a client’s balance sheet.

Bloomberg BNA has released the inaugural edition of the Bloomberg BNA 2015 Federal Tax Guide, a quick-reference guide for tax practitioners to help with preparing 2014 individual and business tax returns and 2015 planning.

While the traditional end-of-year tax tip checklist contains such tried and true suggestions as defer income and accelerate deductions, there are a number of other steps Tom Wheelwright takes in advising his small business clients.