Tax

Recently merged accounting firms Thevenin, Lynch, Bienvenue LLP and George Malloy, CPA, have changed their combined name to Malloy, Lynch, Bienvenue LLP.

The Internal Revenue Service could be doing more to encourage businesses to report miscellaneous income payments on 1099-MISC forms, according to a new report.

Here are a few tax law changes that taxpayers may want to note before filing their 2008 federal tax returns, according to the IRS:

Although admittedly many people look upon January 1st as the trigger-point for resolutions, an organization known as Savvy Ladies figures that April 15th is really the better date. “Tax time is often the only time of the year when a lot of people sit down and look at how much they’ve earned and how much they’ve been able to save,” says Stacy Francis, founder of Savvy Ladies and a certified financial planner,. “It’s a bit of a shock for many to see how much cash slips through their fingers every month.” Savvy Ladies is dedicated to providing financial education to women in their quest for financial independence. It has free monthly newsletters, seminars, and teleconferences that are pegged at fostering a sense of community and are specifically designed to educate, amuse, and fulfill savvy women who want to take control of their financial future. There are currently 2,100 members and growing rapidly. The founder of this organization is Stacy Francis who is the president of Francis Financial, a New York City-based firm that specializes in helping individuals create more fulfilling lives through financial freedom.

Taxpayers’ rights were violated when the Internal Revenue Service filed liens on their accounts while they were in bankruptcy, according to a new report by a government watchdog.

Rep. Gary Ackerman, D-N.Y., has written to Internal Revenue Service Commissioner Douglas Shulman asking him to provide tax relief to investors who were swindled by Bernard Madoff’s $50 billion Ponzi scheme.

Approximately 40 percent of online households plan to file their federal taxes via the Internet this year, up from less than 34 percent four years ago, according to a new report.

A federal court has permanently barred a Florida tax preparer who called himself “The Tax Doctor” from doing other people’s returns after he allegedly cost the Treasury at least $750,000 in bogus claims.

President Barack Obama presented his budget for fiscal 2010, including about $318 billion in tax increases mainly targeted at the wealthy.

The Internal Revenue Service is not doing enough to crack down on tax preparers who use illegal tax shelters and to keep track of complaints against them by clients, according to two new reports.