As Tax Season Approaches, TurboTax Rolls Back Software Changes From Last Year

Change isn’t always a good thing. That was the message that Intuit heard loud and clear last year when the company made some changes to TurboTax desktop software. For 2015, the company yanked the interview sections for Schedule C (self-employment income and all expenses), Schedule D (investments), and Schedule E (rental and partnership income) from the … Read more

Losers Like Me: Fantasy Sports Sites Like FanDuel Attract Billions And Scrutiny As Popularity Grows

I lost $25 this week on fantasy sports. For the record, it wasn’t gambling. I know this because the site that I used, FanDuel.com, said so. Over and over. According to the site: Fantasy Sports is considered a game of skill and received a specific exemption from the 2006 Unlawful Internet Gambling Enforcement Act (UIGEA)… Thanks … Read more

Chances Are, You Paid More In Taxes Last Year Than Facebook Did (In The UK)

Some Facebook users in the United Kingdom (UK) may be getting ready to put that rumored “dislike” Facebook button to use: the social media site paid just £4,327 ($6,643 US) in UK corporate tax in 2014. No, that’s not missing a few zeros. It’s really £4,327 ($6,643 US). To be clear: I paid more in … Read more

Harper Says No To Netflix Tax In Canada Even Though It Already Exists

No “Netflix tax” in Canada. That was the word from Canadian Prime Minister Stephen Harper. Harper promised not to tax streaming services last week, saying, “I’m 100% against a Netflix tax — always have been, always will be.” He warned, however, that his opponents might do just that, claiming, “Some politicians want to tax digital … Read more

Cloud Tax Is The New Black: Chicago Tax Scheme Will Boost Costs For Services Like Netflix

My kids are huge fans of Netflix, as am I. I like being able to pick and choose which shows they will watch in advance and a girl can only take so many episodes of Disney’s “Jessie.” For those of you who don’t know about Netflix, it’s a service that allows you to stream videos online (you … Read more

IRS Announces New Steps To Protect Taxpayers From Identity Theft Tax Fraud

Internal Revenue Service (IRS) Commissioner John Koskinen, leading tax partners and state tax administrators have announced new steps to protect taxpayers from identity theft tax fraud, including a new collaborative effort between public and private sectors to protect taxpayers and their tax returns. The announcement was made at a press conference held earlier today, just … Read more

IRS, TIGTA Talk Tech, Identity Theft & Security At Congressional Hearing

Internal Revenue Service (IRS) Commissioner John Koskinen was back on the Hill this week, together with J. Russell George, The Treasury Inspector General for Tax Administration (TIGTA), to testify before members of Congress. This time, both were asked about the unauthorized access to the “Get Transcript” application on the IRS web site. The hearing was … Read more

IRS Issues Statement On Unauthorized Access Of Taxpayer Transcripts

The Internal Revenue Service has issued a statement regarding the unauthorized access of taxpayer information using the “Get Transcript” application. Follows is the statement in full: The IRS announced today that criminals used taxpayer-specific data acquired from non-IRS sources to gain unauthorized access to information on approximately 100,000 tax accounts through IRS’ “Get Transcript” application. … Read more