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Archive for September 11th, 2015

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apresti

September 2015 tax compliance calendar

September 2015 tax compliance calendar As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important tax reporting and filing data for individuals, businesses and other taxpayers for the month of September 2015. September 2 Employers. Semi-weekly depositors must deposit employment taxes […]

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srusso

How Do I? Form a partnership for tax purposes

How Do I? Form a partnership for tax purposes A business operated by two or more owners can elect to be taxed as a partnership by filing Form 8832, the Entity Classification Election form. A business is eligible to elect partnership status if it has two or more members and: is not registered as anything […]

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srusso

Busy tax agenda awaits Congress’ return after August recess

Busy tax agenda awaits Congress’ return after August recess Congress returns to work in September with a full agenda of tax legislation. Lawmakers will search for revenue to pay for a long-term federal highway and transportation bill, debate the fate of popular but temporary tax breaks, and decide on a funding level for the IRS. […]

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srusso

President signs Highway Bill revising return due dates, making other compliance change

President signs Highway Bill revising return due dates, making other compliance change President Obama signed the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 on July 31. The Act revises some important return due dates, overrules a Supreme Court tax decision, revises the employer shared responsibility requirements in the Affordable Care Act […]

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sgrgas

FAQ: When must individuals pay estimated taxes?

FAQ: When must individuals pay estimated taxes? Many federal income taxes are paid from amounts that are withheld from payments to the taxpayer. For instance, amounts roughly equal to an employee’s estimated tax liability are generally withheld from the employee’s wages and paid over to the government by the employer. In contrast, estimated taxes are […]

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apresti

Developments continue to impact the mortgage interest deduction

Developments continue to impact the mortgage interest deduction The mortgage interest deduction is widely used by the majority of individuals who itemize their deductions. In fact, the size of the average mortgage interest deduction alone persuades many taxpayers to itemize their deductions. It is not without cause, therefore, that two recent developments impacting the mortgage […]

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