Archive for the Tax Planning Category

IRS Will Work with Taxpayers Liable for Individual Shared Responsibility Payment

Individuals liable for the Code Sec. 5000A shared responsibility payment will make their payments when they file their 2014 returns, William Smits, senior manager, IRS Wage & Investment Division, National ACA Outreach Coordinator for Individual Tax Provisions, reminded practitioners during a webcast sponsored by the American Institute…

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IRS Provides IRA Owners with Fresh Start for Rollovers in 2015

The IRS has provided transition relief for its change in the one-per-year limit imposed on tax-free rollovers between Individual Retirement Account (IRA) announced in March 2014. and scheduled to go into effect January 1, 2015. Under the change, the one-per-year rule applies to each individual rather than…

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2015 Tax-Filing Season Expected to Be Extremely Difficult

The 2015 tax-filing season will likely be the worst in nearly 30 years, according to National Taxpayer Advocate Nina E. Olson, who spoke to tax practitioners on November 3 at the AICPA’s National Tax Conference in Washington, D.C. Olson told attendees that the filing season will be…

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IRS Guidance on Same Sex Marriages

U.S. Attorney General Eric Holder announced on October 17 that the federal government will recognize same-sex marriages performed in seven more states. The U.S. Supreme Court declined to review rulings from federal appeals courts that had struck down bans on same-sex marriage in some of these states.…

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Regulations to be Proposed Will Require Employer-Sponsored Group Health Plans to Include In-Patient Hospitalization Services

The IRS has announced that the Department of Health and Human Services (HHS) and the Treasury Department (including the IRS) will soon issue proposed regulations providing that a group health plan does not provide minimum value if it excludes substantial coverage to employees for in-patient hospitalization services…

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HR 4 – Jobs for America Act

HR 4 – Jobs for America Act DIVISION I—WAYS AND MEANS TITLE I—SAVE AMERICAN WORKERS Sec. 101. Short title. Sec. 102. Repeal of 30-hour threshold for classification as full-time employee for purposes of the employer mandate in the Patient Protection and Affordable Care Act and replacement with…

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Extenders Likely to Win Passage in November

Lawmakers are likely to pass tax extender legislation during the lame-duck session of Congress in November and comprehensive tax reform as early as 2015, according to tax experts speaking during webcast sponsored by PricewaterhouseCoopers LLP on October 28. According to Rohit Kumar and Scott McCandless, both principals…

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S. 2260 – Expiring Provisions, Improvement, Reform, and Efficiency (EXPIRE) Act of 2014

Below is the Senate version of the tax extenders bill, the EXPIRE Bill of 2014.  All items listed below have expired or will expire in 2014 that this bill has called to extend two to three more years. TITLE I—PROVISIONS EXPIRING IN 2013 Subtitle A—Individual Tax Extenders…

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Extenders Negotiations Continue with a cold White House Response

Negotiations over the fate of more than 50 tax extenders have continued over the Thanksgiving recess. Leaders in both the House and Senate have been in discussions over whether to extend the popular but temporary tax breaks or to make permanent some of the incentives and eliminate…

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Action Needed to Ensure Tax Compliace with FIRPTA

According to new audit report from the Treasury Inspector General for Tax Administration (TIGTA), current IRS procedures are insufficient to ensure that all foreign seller real estate transactions subject to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) are in fact compliant with FIRPTA.…

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The Woodlands

Humble

19747 US Hwy 59 N
Suite 205
Humble, Texas 77338

Our office is located inside the Chase building in Suite 205.

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