In 1970, Congress passed the Bank Secrecy Act which was pretty much the first law on the books in the US to require banks and
Read MoreYear: 2011
Jackson Hewitt Launches Contest for Tax Season
Jackson Hewitt has announced two promotions for tax season: the “Jackson Hewitt’s Got My Back” photo sweepstakes and the “Win Win with the Big Check”
Read More1099 Repeal Still All Talk, Not Law
Congress had no problem sneaking in the now infamous 1099 expanding reporting requirements. But boy, they are having a devil of a time getting rid
Read MoreRandom Elvis Tax Trivia
Yes, you read the title right… If you follow the blog regularly, you know that I’m a little bit obsessed with Elvis. At any rate,
Read MoreTaxes From A To Z: E Is For Early Distributions
Let’s face it… It’s been a tough couple of years for a lot of taxpayers. More and more taxpayers have reached into their savings, including
Read MoreTaxes From A To Z: D Is For Depreciation
Nothing lasts forever. Things you buy age, they wear down and sometimes, they become obsolete. That’s more or less the essence of depreciation. For federal
Read MoreTaxes From A To Z: C Is For Corrective Distributions
Retirement plans can be great vehicles for tax deferrals – but they can also be giant headaches when it comes to reporting for tax reasons.
Read MoreTaxes From A To Z: B Is For Business Mileage
Section 162 allows taxpayers to deduct expenses incurred in the course of a trade or business that are deemed “ordinary and necessary.” One of the
Read MoreFix the Tax Code Friday: Spending or Tax Cuts?
Over the past few weeks, there has been a lot of talk about states cutting spending. For example, in Wisconsin, there’s been a very public
Read MoreTaxes From A To Z: A Is For Applicable Federal Rates
First in the series: A is for Applicable Federal Rates, or AFRs. Each month, the IRS provides various prescribed rates for federal income tax purposes;
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