Make a Payment Hamilton - 513.868.8600
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Make a Payment Hamilton - 513.868.8600
Oxford - 513.523.6664
West Chester - 513.860.3502
February 13, 2012
The IRS is on a mission to find those individuals and businesses who are not reporting all of the income they receive. To increase their odds of finding the under-reporters, they are employing two techniques. First, they posted two new questions on every business or rental tax return/schedule that must be answered. The first question asks “Did you make any payments in 2011 that would require you to file Form(s) 1099?” The next question asks “If "Yes," did you or will you file all required Forms 1099? The second technique they are employing involves a dramatic increase in the number of audits they are performing on individuals and business owners.
You generally have to file Form 1099 information retur...
January 15, 2012
There are many important tax changes taking effect in 2012, as well as some that took effect late last year and thus are “new.” Here is a list of the more important changes separated by their effect on taxpayers.
The Good (or not so Bad)
...December 10, 2011
The IRS sent millions of postcards to small businesses and tax-exempt organizations making them aware of the benefits of the small business health care tax credit. This credit, included in the Patient Protection and Affordable Care Act, is designed to encourage small employers to offer health car...
November 13, 2011
In 2008 President Bush signed into law a bill known as The Housing Assistance Tax Act of 2008. This bill put into place billions in tax incentives, including the more highly published first-time homebuyer credit. In the middle of this bill was a new requirement ...
October 24, 2011
Businesses in the know are enjoying unprecedented depreciation deductions for qualifying asset purchases. Unfortunately, these historic deductions are currently set to expire at the end of the 2011. We will highlight some planning ideas here, and would be ...
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