by Dan Smith | Nov 28, 2011 | Entrepreneurs' Business Blog
Who ever said that case law is dry, and that judges only know how to speak eye-glazing “legalese?” Not me. I’ve read enough tax cases to know that not only can tax law be entertaining, but that judges can have impressive senses of humor (not to...
by Dan Smith | Nov 9, 2011 | Entrepreneurs' Business Blog
Yesterday, IRS Commissioner Doug Shulman spoke at the AICPA fall meeting. When the IRS Commissioner speaks, we should all listen for clues as to what is in store for us as taxpayers. Commissioner Shulman talked about a number of things, including the return preparer...
by Dan Smith | Sep 28, 2011 | Entrepreneurs' Business Blog
COI is one of those tax acronyms that strikes fear in the heart of those who speak tax-ese. COI stands for “cancellation of indebtedness.” Under the Internal Revenue Code, and under certain circumstances, if you owe money to a creditor and you simply...
by Dan Smith | Sep 27, 2011 | Entrepreneurs' Business Blog
In an opinion piece in today’s Wall Street Journal, John Steele Gordon traces the evolution of the U.S. income tax system, both the personal income tax and the corporate income tax. It is interesting and, I think, it should be required reading for every...
by Dan Smith | Sep 22, 2011 | Entrepreneurs' Business Blog
The IRS released Notice 2011-80 yesterday, which provides additional guidance for paid tax return preparers. One of the key points discussed in the new IRS guidance is that paid tax return preparers will need to renew on an annual basis their Preparer Tax...
by Dan Smith | Sep 21, 2011 | Entrepreneurs' Business Blog
The Internal Revenue Service announced a new program today that will allow employers who have been misclassifying workers as independent contractors rather than as employees to get into compliance with a minimum of fuss and expense. The new program is called the...
