Five months after massive federal tax changes became law, many small business owners still don't know whether they'll be winners or losers.
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Lawyers say a split in the U.S. Bankruptcy Court over whether tax liability from late-filed state income tax returns are dischargeable in bankruptcy is creating uncertainty and making it difficult to advise debtors on how to proceed.Read More »
Family business owners who worked frantically to offload company shares to the next generation of owners in the months leading up to the New Year can breathe easier now that Congress passed a law to avert anticipated tax rate increases and tax-exempt gift limits. But CPAs and attorneys warn the work isn’t over quite yet.Read More »
By DINESH RAMDE Associated Press MILWAUKEE (AP) — The state Supreme Court ruled Friday that taxpayers who want to challenge their tax assessments are entitled to full court reviews of their challenges, a decision that critics feared could embolden businesses ...Read More »
The Department of the Treasury is at it again. They are broadening the rules of ethics that govern practice before the IRS in a continued effort to clean up the tax business. The IRS will now require everyone that prepares "all or substantially all" of a tax return to register with the IRS and receive a Preparer Tax Identification Number (PTIN). As before, the new rules are more expansive than necessary to achieve their goal.Read More »