2016 News Archive
 

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Articles

Dirty dozen tax scams of 2016

Every year, the IRS releases a list of what it calls the worst tax scams of the year. Beginning Feb. 1 and ending on Feb. 17, the IRS issued a news release each day highlighting a scam. These “dirty dozen” scams can be encountered at...

Internal auditors challenged by cybersecurity, data quality

About half of internal audit leaders lack confidence in their staffs’ cybersecurity expertise, and nearly half say internal audit has little or no involvement in evaluating the quality of data used in their organization, according to a new...

IRS Warns Preparers about Protecting Electronic Filing IDs

The IRS urged tax professionals in an email Wednesday to verify their Electronic Filing Identification Number activity to safeguard against tax fraud. The IRS noted that tax preparers need to protect both their EFIN and ETIN (Electronic...

4 Payroll Considerations for Nonprofits

When people receive their paychecks, be it weekly, bi-weekly or some other, they may notice the litany of deductions indicated on the pay stubs. They often dismiss them and simply accept that Uncle Sam takes his fair share—and they...

How to Avoid a State Tax Audit

Have you ever desperately tried to avoid someone at a cocktail party? Perhaps the guy who means well but asks nitpicky questions and won’t leave you alone? For accounting professionals, that party pariah is an auditor, and you should do...

4 Simple Steps to Grow Accounting Firm Business

You’re an exceptional accounting firm delivering high-quality service and maintaining operational efficiently. And yet in spite of the immense value you bring to your customers and prospects, you’re finding it increasingly difficult...

Congress Passes Law Banning Internet Access Taxes

Feel free to keep using the Internet without the threat of having to pay taxes on your services. (Buying products online, yes, you may have to pay sales tax. But not for your actual Internet service.) After almost two decades, Congress has...

Congress enacts permanent ban on state and local internet taxes

Congress on Thursday passed the Trade Facilitation and Trade Enforcement Act of 2015, H.R. 644, which would make permanent the “moratorium on states and localities taxing Internet access or placing multiple and discriminatory taxes on...

IRS Detects Attack on Electronic Filing PIN App

The Internal Revenue Service said Tuesday evening that it recently identified and halted an automated attack upon its Electronic Filing PIN application on IRS.gov . Using personal data stolen elsewhere outside the IRS, identity thieves used...

Obama Budget Includes Tax Increases and Tax Preparer Regulation

The Obama administration released its fiscal year 2017 budget containing a number of tax increases on high-income taxpayers, oil and foreign income, along with tax breaks for the middle class and small businesses, plus a provision giving the...