IRS' Commissioner of Self Employed/Small Business Division gave AICPA National Tax conference attendees a heads up on the division's compliance priorities and potential changes. Not surprisingly, he indicated they are shifting more resources to look at more flow-throughs. One issue that has come up in an ongoing study of employment tax returns (among several types…
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Doug Shulman Explains The New & Improved IRS; Before His Retirement
In a few days time – November 11th to be precise – my term as the 47th Commissioner of the Internal Revenue Service officially comes to a close. I suppose it’s quite natural when one has completed a significant task like running the IRS for almost five years to pause ... to reflect on the…
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An Obama Re-election and it's impact on US Taxes?
What was a contentious issue during the campaign will likely remain so. Obama said that higher taxes on the rich will not stifle economic growth and that both tax hikes and spending cuts are needed to achieve long-term deficit reduction. Whether he can get Republicans to agree to any tax hikes may be his…
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Uncertainty for 2012 Year-End Tax Planning
Grant Thornton is advising US taxpayers on some possible year-end tax planning strategies, while warning that this is one of the most uncertain quarters in American tax history. They predict that dramatically higher taxes are probably coming no matter who is returned to the White House this week. Tax planning is never a breeze, but it’s…
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