Tax

The Treasury Department and the Internal Revenue Service have loosened the “use it or lose it” rule for flexible spending arrangements for health care, allowing participants in health benefit plan to carry over up to $500 from their FSA from year to year.

The Internal Revenue Service issued its annual inflation adjustments for more than 40 tax provisions, including the tax rate schedules, and other tax changes for 2014.

A pair of lawmakers have introduced legislation to simplify the Tax Code to enable families to more easily afford the cost of higher education.

PricewaterhouseCoopers US has released the latest edition of “Managing Your Wealth: Guide to Tax and Wealth Management,” the firm’s annual guide aimed at helping high-net-worth individuals, families and business owners better understand and play an active role in growing and preserving their wealth.

The IRS has begun accepting applications and renewals of the Preparer Tax Identification Numbers required of professional tax preparers.

The Treasury Department and the Internal Revenue Service have released a document containing proposed guidance for foreign financial institutions as the next step in implementing the Foreign Account Tax Compliance Act in an effort to combat offshore tax evasion.

A home office is the work reality for many CPA consultants and tax preparers. It beckons with the promise of an easy commute, and the comfort of working in your pajamas. It provides the flexibility of working when you want to. It can also save thousands of dollars that would otherwise be spent on rent. What’s not to love?

The amount of money the federal government receives from corporate income taxes has been declining since 2008, mainly because of the recession, according to a new government report.

Thomson Reuters has released an updated special report on the tax changes in the Affordable Care Act, which have become more relevant now that the health insurance exchanges have opened for business in many states, despite the technical glitches on the federal site.

Now that the October 15 extended filing deadline for personal income tax returns has passed, we have only 10 weeks to help our clients plan for the tax returns that will be due April 15.