Archives for April 2009

Tax Credit Recipients Beware

Tax Credit Recipients Beware

The Associated Press reports that millions of taxpayers will have to repay some of their stimulus rebate back to the IRS come filing time in 2010: The tax credit is supposed to provide up to…

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IRS Changes 5 Year NOL Carryback Election Rule

IRS Changes 5 Year NOL Carryback Election Rule

Joe Kristan writes about the temporary expansion of the Net Operating Loss (NOL) carryback period from 2 years to 5 years: The regular federal net operating loss carryback period is two years. That allows taxpayers to get refunds on…

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Swine Flu Tax Incentives

Swine Flu Tax Incentives

Tax Vox reports, A new package of anti-swine flu tax incentives was introduced in the House [yesterday]. The three-pronged package would provide a new tax credit for businesses that purchase liquid hand sanitizers, make it…

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The Tax Man Has a Plan: IRS Issues 5 Year Strategic Initiative

The Tax Man Has a Plan: IRS Issues 5 Year Strategic Initiative

The IRS has issued a 5 year strategic plan aimed at closing the tax gap, increasing voluntary compliance with the federal tax laws and cracking down on unscrupulous and fraudulent tax preparers. The 38 page report is a reaction…

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