Our Thoughts On Archive

Tax Treatment of Deferred Revenue in a Taxable Stock Acquisition

The general rule under Internal Revenue Code §451 is that an item of income shall be included in gross income for the taxable year or receipt unless

A Reminder on the Reporting of Foreign Banks and Financial Accounts (FBAR)

An important deadline is coming up for taxpayers who have an interest in foreign financial accounts with an aggregate value of $10,000 or more at any one

$5.8 Billion Dollars in Fraudulent Refunds!

A U.S. Government Accountability Office report found that the IRS paid out $5.8 billion in fraudulent refunds in 2013, and prevented or recovered $24.2

Free Tax Guide Focuses on Tax Benefits for Members of the Military

The Internal Revenue Service (IRS) observes the month of May as National Military Appreciation Month. Each year, the IRS publishes Publication 3 to remind

Applications for Educational Improvement Tax Credit (EITC) Now Open

The Educational Improvement Tax Credit (EITC) awards tax credits to businesses that make approved contributions to Scholarship Organizations (SO), Educational

Employee or Partner? Treatment of Individuals within Partnerships Owning Disregarded Entities

For many years, some partnerships that owned disregarded entities (single-member LLCs) claimed that their partners were employees of the single-member