August 20th - 23rd, 2014

Open for Details

 


 

IRS issues guidance on health insurance premium tax credits

By Sally P. Schreiber, J.D.
July 25, 2014


The IRS issued regulations and revenue procedures Thursday addressing how to calculate the Sec. 36B premium tax credit, including how the credit is calculated in conjunction with the Sec. 162(l) deduction for health insurance premiums of self-employed individuals. Continue

 
 

Federal courts disagree on health care credits for federal exchanges

By Sally P. Schreiber, J.D.
July 22, 2014


The appellate courts for the D. C. Circuit and the Fourth Circuit issued conflicting decisions on Tuesday regarding the availability of the Sec. 36B premium tax credit for taxpayers who purchase health insurance on exchanges set up by the federal government.  Continue

 
 

e-News for Tax Professionals Issue 2014-30

Issue Number:  2014-26 Inside This Issue. Read More:

 
 

This Week In Labor: July 22, 2014

See what's happening this week in Labor by watching the video below.

Watch Video

 
 

Limit on direct deposit of refunds will go into effect in 2015

By Sally P. Schreiber, J.D.
July 7, 2014


In its latest attempt to fight tax refund fraud, the IRS said that, beginning in January 2015, it will impose a limit of three electronic direct deposits of tax refunds into a single financial account or prepaid debit card. Continue

 
 

Fighting identity theft, IRS issues final rules on truncated identification numbers

By Sally P. Schreiber, J.D.
July 14, 2014


The IRS issued final regulations (T.D. 9675) that allow the use of truncated taxpayer identification numbers (TTINs) on payee statements and certain other documents where not prohibited by the Internal Revenue Code, applicable regulations, or other guidance published in the Internal Revenue Bulletin, forms, or instructions. Continue

 
 

Court halts IRS regulation of contingent fees for refund claims

By Alistair M. Nevius, J.D.
July 17, 2014


The U.S. District Court for the District of Columbia granted a motion of summary judgment and issued an injunction to prevent the IRS from regulating contingent fee arrangements for the preparation and filing of ordinary refund claims under Circular 230, Regulations Governing Practice Before the Internal Revenue Service (31 C.F.R. Part 10) (Ridgely, No. 1:12-cv-00565 (CRC) (D.D.C. 7/17/14)). Continue

 
 

Social Security Extends Access to Benefit Verification
Multiple Options Available

Today, the Social Security Administration announced that local Social Security offices would continue to provide benefit verification letters until further notice. Read More:

 
 

YouTube: Individual Shared Responsibility Overview

This new YouTube video explains what your clients need to do if they don’t have basic health care coverage. See the Video

 
 

IRS Loses Billions on Erroneous Amended Tax Returns

The Internal Revenue Service is being urged to modernize the process of filing amended tax returns in a new government report that estimates the IRS could be losing billions of dollars from erroneous tax refunds claimed on amended tax returns. Read More:

 
 

Articles and Updates For Members Only

Be sure and log in to your Members Only Section (top-left column) to see the articles on: House Bills and Legislator Updates by Gallagher Consultants, Inc., IRS Updates by Catherine Murphy, CPA (IRS Stakeholder Liaison), Federal Tax Weekly by CCH Group, blog articles by Paul Neiffer from Farm CPA Today

 
 

St. Louis Chapter Meeting Notice

The next St. Louis Chapter meeting will be
July 28, 2014

Read more: St. Louis Chapter Meeting
 
 

Kansas City Chapter Meeting Notice

The next Kansas City Chapter Meeting scheduled for
August 21, 2014

Read more: Kansas City Chapter Meeting
 
 

Heart of the Ozarks Chapter

The next Heart of the Ozarks Chapter meeting will be
Thursday, August 21, 2014

Read more: Heart of the Ozarks Chapter Meeting
 
 
 

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~Members Memo~

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2014 Tax Reference Manual for MO Legislators

Upcoming Events

Annual Accounting Seminar
Lake of the Ozarks, MO

9/29/2014 thru 9/30/2014

Bob Jennings 1040 Tax Seminar
St. Louis, MO
11/20/2014 thru 11/21/2014

Bob Jennings 1040 Tax Seminar
Branson, MO
12/4/2014 thru 12/5/2014

Bob Jennings 1040 Tax Seminar
Kansas City, MO
12/11/2014 thru 12/12/2014

Annual Convention
6/18/2015 thru 6/20/2015