Tax season

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.

Tomorrow happens to be Giving Tuesday, a global day dedicated to giving back, and a pair of CPAs have some advice for those who are planning their end-of-year charitable giving.

A number of years ago we purchased a practice in late February to get the business clients. However, we had to agree to service the individual tax clients, of whom there were about 180, with each paying a very low fee. The seller did not want to hang up his long-time clients.

Tech-savvy practitioners will stand out during filing season.

With the holidays upon us and tax season almost here, now is the perfect time to check in with your clients to discuss their gift-giving plans for the rest of the year.

President Barack Obama would veto a tax-break agreement being negotiated in Congress by Senate Democrats and House Republicans.

Tax extenders, temporary tax provisions that are reinstated by Congress on a regular basis, have been a recurring part of the tax arena for years. Most of the current group up for debate have expired at the end of 2013, and their eventual extension will be retroactive, but not all will be extended. Here are the best bets.

The Net Investment Income Tax, which was included as part of the Affordable Care Act, will be hitting taxpayers and practitioners alike this coming tax season.

If the lame duck session of Congress fails to address the tax extenders, it will fall to incoming House Ways and Means Committee chairman Paul Ryan, R-Wis., to see that they get passed early in the next session of Congress.

The National Society of Accountants is suggesting some year-end tax tips to help businesses save money on taxes for this year and beyond, courtesy of Wolters Kluwer CCH.

The National Society of Accountants has offered a set of year-end tax tips for individual taxpayers, courtesy of Wolters Kluwer CCH.

For the tax preparation office that relies on seasonal hires, this is the make or break time of year.

The IRS is reminding tax professionals and taxpayers that procedures kick in this January to limit to three the number of refunds electronically deposited into a single financial account or onto a pre-paid debit card.

Ernst & Young has published the latest annual edition of its tax guide, the EY Tax Guide 2015.

Intuit is now offering guidance for tax pros on the Affordable Care Act.

Why this practice area tops the list in liability claims

The Internal Revenue Service announced the annual inflation adjustments for tax year 2015 for more than 40 tax provisions, including the tax rate schedules, and other tax changes.