March 2017 Tax Channel

Top Tax Social Media Posts:

Latest Tax News:

  • Will Tax Reform Hurt Housing Market? A proposal coming out of the White House to raise the standard tax deduction would be welcome news for most taxpayers, but some in the housing industry fear it could discourage new homeowners.
  • IRS Enacts New Regulations for Gambling Income. Do you enjoy wagering at casinos and participating in other games of chance? The IRS requires you to pay tax on your fair share of winnings as reported by the "house."
  • AICPA Asks Senate to Approve Income Tax Treaties. The American Institute of CPAs (AICPA) says the United States Senate should promptly consider and approve the bilateral income tax treaties and protocols currently pending before it.
  • New Income Tax Form Needed for S-Corps, Says AICPA. The form proposed by the AICPA in its February 21 letter would be a required attachment to any income tax return and would include items of income, loss, deduction or credit of an S corporation.
  • Tax Preparers Beware: Hackers in Your Rear View. If a CPA or tax pro receives their clients’ W2s, 1099s, 4562s, 8829s, pay stubs, banks statements, TINs and SSNs in email, they are putting their clients at risk. The CPA or tax pro is also putting themselves and their business at risk.