• Internal Revenue Service Provides Tax Relief to Hurricane Sandy Victims

    by  • November 13, 2012 • 0 Comments

    Following recent disaster declarations for individual assistance issued by the Federal Emergency Management Agency, the IRS announced that affected taxpayers in Connecticut, New Jersey and New York will receive tax relief. Other locations may be added in coming days based on additional damage assessments by FEMA. Qualified Disaster Treatment of Payments to Hurricane Sandy Victims...

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    Government Subcontractor Due Diligence: 8 Questions to Ask

    by  • October 24, 2012 • 0 Comments

    Prime contractors are responsible for negligence in the selection of subcontractors. In one fraud perpetuated against the U.S. Department of Interior’s Fish and Wildlife Service, two individuals were engaged in a series of transactions that were intended to hide the involvement of one of them from the government. How Prohibited Involvement Was Concealed From the...

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    Social Security and IRS Announce 2013 Benefit and Pension Amounts

    by  • October 24, 2012 • 0 Comments

    There’s good news for those who collect Social Security benefits and those who want to contribute to pension plans in 2013. The Social Security Administration recently announced benefit increases for 2013 of 1.7 percent for millions of Americans. For eight million recipients of Supplemental Security Income, the cost-of-living increase will begin on December 31, 2012, while 56...

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    Who Are the Latest IRS Audit Targets?

    by  • October 22, 2012 • 2 Comments

    As we move closer to winter, the IRS has announced that it is turning up the heat on small business operations. This isn’t surprising in light of recent IRS analysis indicating that underreporting by small businesses is responsible for 84 percent of an estimated $450 billion “tax gap” between the tax revenue that is...

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    Employee Cost Trends: Making Sense of the Numbers

    by  • October 12, 2012 • 0 Comments

    Upon releasing the survey on September 19, 2012, the head of Towers Watson’s compensation consulting practice issued this statement: “Employees… are more focused on competitive base pay and job security. Employers, on the other hand, are emphasizing other items, such as challenging work and their mission, vision and values.” In other words, many employees...

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    IRA Rollovers: Not as Simple as They May Seem

    by  • September 27, 2012 • 0 Comments

    Rolling over a company retirement plan distribution into an IRA is usually a good idea. It allows you to defer taxes on the rolled-over balance, and the future income earned on that balance, for as long the money stays in the IRA. However the IRA rollover strategy is not always a no-brainer, as one taxpayer...

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