Advice

Numbers game; we have a loser; scrapped; and other highlights of recent tax cases. Philadelphia: Preparer Abdoulaye Coumbassa has been sentenced to two years in prison for aiding in the preparation of a false client tax return. Coumbassa, who pleaded guilty last year, owned and operated Abbi Tax Services and Accounting. From at least 2012
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The Internal Revenue Service introduced a new payment option in 2016 that lets individuals pay their taxes with cash at participating retail chains, but less than 700 payments have been made each year since the option was made available, according to a new report. The report, from the Treasury Inspector General for Tax Administration, noted
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The sharp divergence between Republicans and Democrats over the 21 percent corporate income tax rate was on display Tuesday at the House Ways and Means Committee as Democrats began making the case for a large increase should their party succeed in November’s elections. Several Democratic presidential candidates — including Senators Bernie Sanders, Elizabeth Warren, and
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Two major issues dominated the conversation around state and local tax in 2019, according to Jamie Yesnowitz and the team at Grant Thornton’s SALT National Tax Office: the 2017 Tax Cuts and Jobs Act and the Supreme Court decision in South Dakota v. Wayfair Inc. in June 2018. They’ll both continue to have a major
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The complexity and insufficient oversight of the IRS’s Free File program, which is supposed to provide free tax software to most taxpayers, results in low taxpayer participation in the program, according to a new government report. The report, from the Treasury Inspector General for Tax Administration, comes in the wake of controversy that erupted over
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The Further Consolidated Appropriations Act, enacted on Dec. 20, 2019, included a number of tax changes with retroactive impact, requiring taxpayers and their advisors to consider filing amended 2018 tax returns. These include 28 regularly expiring tax breaks that had expired at the end of 2017 and have been retroactively extended. A package of disaster
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