President Obama has signed a law that repeals two sets of rules that had business owners, company managers and landlords up in arms because of the paperwork nightmare they created. The rules that involved businesses issuing a blizzard of 1099 forms were created by two laws enacted in 2010. Rental property owners had to begin complying...
Read more →There are valuable new tax breaks for business equipment and vehicles that were included in last year’s tax cut legislation. The law allows 100 percent first-year bonus depreciation for some qualified new assets and retroactively brought back 50 percent bonus depreciation for part of last year. Now, the IRS has issued some much needed...
Read more →The IRS has announced changes to help enable people get a fresh start after they fall behind on their tax liabilities. Here is a brief summary of the new five-step program and how it might help some delinquent taxpayers. It covers tax liens, installment payments and the offers taxpayers can make to the IRS...
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