• Archive for March, 2012

    Home Affordable Refinance Program: Changes to HARP May Be Sweet Music to Your Ears

    by  • March 29, 2012 • Real Estate Accounting • 0 Comments

    How do “underwater homeowners” spell mortgage relief? H-A-R-P. It stands for the “Home Affordable Refinance Program.” More “underwater” homeowners now qualify for HARP 2. This government-sponsored initiative was designed to bail out homeowners with Fannie Mae or Freddie Mac-owned loans who want to refinance their loans but the balance is higher than the market...

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    Business Tax: New Final Regulations on Partnership Debt-for-Equity Exchange

    by  • March 15, 2012 • Tax News • 0 Comments

    The IRS recently issued new final regulations regarding the federal income tax consequences that arise when a partnership interest is issued to one of the entity’s creditors in satisfaction of a debt. We will call these transactions partnership debt-for-equity exchanges. The new regulations are effective for exchanges that occur on or after November 17,...

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    IRS Fresh Start Program Provides Penalty Relief to Unemployed Struggling Taxpayers

    by  • March 15, 2012 • Tax News • 0 Comments

    The IRS recently announced a major expansion of its “Fresh Start” initiative to help struggling taxpayers. Under the new IRS Fresh Start Program provisions, certain taxpayers who have been unemployed for 30 days or longer will be able to avoid failure-to-pay penalties. In addition, the IRS is doubling the dollar threshold for taxpayers eligible...

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    What Government Contractors Can Include in an Indirect Expense Pool

    by  • March 1, 2012 • Government Contractor Accounting • 0 Comments

    The Complexities Of Indirect Expense Pools Are travel and attendance costs to conventions an allowable claim? Can your business include the expense of sponsoring a conference in its claimed indirect expense pool? It all depends on the nature and purpose of the event. The cost principle at FAR 31.205-43, Trade, Business, Technical and Professional Activity...

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