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| Thu, 18 June 2009 |
Tax Court Eases Innocent Spouse Rules
CHANGE IN RULES: Sometimes when a joint return results in liabilities in the form of penalties, tax, and interest, one spouse may be innocent. It used to be that an innocent spouse had only two years to apply for relief in such cases. Now a recent Tax Court decision loosens the restrictions in some circumstances. Tax specialists Terry Myers and Dee DeScherer bring us up to date on the current landscape around innocent spouse rules. |
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| Thu, 18 June 2009 |
Clients May Need to Take a Second Look at Form W-4
TIME-SENSITIVE: It’s always prudent to do an annual review of your clients’ Form W-4s. While such a review would typically take place at the end of the year, we now live in more complicated times. Developments since the beginning of 2009 may require withholding adjustments. |
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| Thu, 18 June 2009 |
Last-Chance Opportunity: 22 Tax Breaks That Expire in 2009
TIME-SENSITIVE: Nothing lasts forever—and the Internal Revenue Code is filled with examples. It’s difficult enough for tax professionals – let alone their clients – to keep track of precisely how long a given tax break is scheduled to last. So we’ve prepared a rundown on 22 provisions due to expire in 2009, plus a letter you can send to clients to encourage them to start tax planning now. |
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| Thu, 14 May 2009 |
Will Your Client Qualify for the New Sales Tax Deduction for Automobiles?
For 2009 Tax Year: The recently enacted American Recovery and Reinvestment Tax Act of 2009 (P.L. 111-5) provides a new deduction for qualifying motor vehicles taxes. You will likely be getting questions from clients wanting to know whether they qualify for the new deduction, and other questions. Here are answers to 11 common questions plus a letter you can send to clients or prospects on the topic. |
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| Mon, 11 May 2009 |
Helping Clients Reduce College Costs through Tax Savings
TIME-SENSITIVE: For clients with dependents entering college, most will be scrambling to figure out how they will be able to pay for tuition. Knowledge of some tax options can trim that overall payment; here are tips for reducing those costs, plus a client letter you can send as needed. |
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| Mon, 11 May 2009 |
The IRS to Get Nosier
TIME-SENSITIVE: The IRS will be gathering even more information about your business clients' income under two massive reporting requirements. The two new requirements have big implications for tax practitioners, and accountants and bookkeepers too. |
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| Wed, 25 Mar 2009 |
New Tax Landscape with the American Recovery and Reinvestment Act of 2009
Affects 2009 Tax Year. The American Recovery and Reinvestment Act of 2009 spells changes in income and payroll taxes that affect the current year, creating new obligations and new opportunities for your clients. We’ve collected several resources and links so you can learn more, including analysis of the effect of the new law on individuals and businesses, and sample letters to adapt for income tax clients. |
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| Fri, 23 Feb 2009 |
Take Credit for More Profit (Limited Offer)
TIME-SENSITIVE: Tax preparers can significantly improve collecting for their tax work if they take credit cards, according to Intuit Payment Solutions. The Intuit group wants to help tax preparers make the 2009 tax season their most profitable yet, so they are announcing a special limited discount: Lacerte® and ProSeries® users can save $125. |
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| Fri, 23 Feb 2009 |
New Tax Changes for 2009—and More on the Way
TIME-SENSITIVE: This article is being shared in the midst of 2009 as most preparers are working on 2008 returns. But when you discuss clients’ 2008 returns, with them, you will also want to point out any 2009 changes that will affect their tax plans. So here’s a quick look at the changes already on the books for 2009. Plus a client letter. |
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| Fri, 06 Feb 2009 |
Good News on Preparer Penalties
TIME-SENSITIVE: Recent developments now ease tax preparer penalties. A tax law enacted at the end of 2008 and follow-up guidance from the IRS have made the tax return preparer penalty rules a little less onerous for preparers as they deal with returns for the 2008 tax year. And portions are retroactive back to tax year 2007. Learn more. |
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| Fri, 06 Feb 2009 |
IRS Issues Important Guidance on First-Time Homebuyer Credit
TIME-SENSITIVE: Affects 2008 and 2009 returns. The IRS has released a notice clarifying how the new first-time homebuyer credit is handled when a home is purchased by two or more people who are not married. Learn more here and find our client letter you can adapt as needed. |
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| Mon, 12 Jan 2009 |
Help Clients Take a Fresh Look at Estimated Taxes and Withholding
TIME-SENSITIVE: Advice on changes in estimated taxes or withholding are most effective early in the year. For many of your clients, the economic downturn may be putting their income outlook for 2009 into a tailspin. You can help your clients by pointing out that their changed income situation may require a fresh look at their tax situation. Your clients won’t want to compound their troubles by overpaying their taxes when their incomes are falling. Includes sample client letter. |
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