News

'Jeopardy James' will likely have to pay $1.2M in taxes

Source: nbcnews.com - Jun 5, 2019

“Jeopardy” champion and professional sports bettor James Holzhauer lost in his 33rd episode of the TV game show, which aired on Monday, finishing $58,484 short of the all-time winnings record.... Read more >

Category: General Business

IRS to Stop Faxing Tax Transcripts, Takes Other Security Measures

Source: cpapracticeadvisor.com - Jun 5, 2019

As part of its ongoing efforts to protect taxpayers from identity thieves, the Internal Revenue Service will stop its tax transcript faxing service in June and will amend the Form 4506 series to... Read more >

Category: General Business

Local say-so stays for Louisiana’s industrial tax break

Source: nola.com - May 24, 2019

The state House on Monday (May 20) fell three votes short of approving legislation backed by Louisiana’s business lobby to lessen local government decision-making authority over a lucrative... Read more >

Category: General Business

Louisiana sales tax phase-out plan wins House backing

Source: wbrz.com - May 24, 2019

ATON ROUGE (AP) - Lawmakers in the Louisiana House agreed to roll back the state sales tax passed in 2018 earlier than its planned mid-2025 expiration date. The proposal from House Republican... Read more >

Category: General Business

EU Launches New System For Tackling VAT Fraud

Source: tax-news.com - May 24, 2019

The European Commission has announced the launch of the Transaction Network Analysis tool, a new system to enable EU member states to rapidly exchange and jointly process VAT data. Tax... Read more >

Category: General Business

Sales tax proposals threaten to ensnare CPA firms

Source: journalofaccountancy.com - May 24, 2019

When Utah’s Legislature floated a proposal earlier this year to levy sales tax on a number of services, including accounting services, the Utah Association of CPAs quickly voiced opposition.... Read more >

Category: General Business

BBB Tips for Louisiana Tornado Victims

Source: bbb.org - May 23, 2019

The recent storms that rolled through Louisiana have caused significant damage to many homes, businesses, and vehicles. Unfortunately, “travelers” (out of town contractors) are likely to be... Read more >

Category: General Business

IRS could be wasting even more taxpayer dollars than it reports

Source: foxbusiness.com - May 23, 2019

While it is known the IRS Opens a New Window. is having a hard time preventing overpayments to individuals claiming a tax Opens a New Window. credit typically awarded to low-income families, they... Read more >

Category: General Business

Trump+Taxes+Deutsche Bank+Mnuchin+Barr = Cover-Up

Source: bloomberg.com - May 23, 2019

It looks like all you have to do these days to dominate a news cycle and force the president of the United States to tee up a predictably bonkers press conference in the Rose Garden is to accuse... Read more >

Category: General Business

When are Quarterly Taxes Due: Dates to Circle in Red

Source: squareup.com - May 23, 2019

(Remember, this post is for educational purposes only. For tax advice related to your specific business, be sure to consult a reputable accountant). Before you started your own business, chances... Read more >

Category: General Business

By the numbers: IRS audit rate for East Carroll Parish residents is highest in Louisiana

Source: thecentersquare.com - May 17, 2019

East Carroll Parish residents were audited by the Internal Revenue Service at a greater rate than similar jurisdictions in Louisiana, according to an analysis by the website 24/7 Wall St. 24/7... Read more >

Category: General Business

Louisiana House approves $112 million tax credit program

Source: thecentersquare.com - May 17, 2019

The state House of Representatives on Monday approved a new multimillion-dollar tax credit program meant to help small businesses create jobs in rural areas. House Bill 444 now moves to the state... Read more >

Category: General Business

IRS highlights credits and deductions for businesses during Small Business Week

Source: irs.gov - May 16, 2019

IR-2019-93, May 10, 2019 WASHINGTON — During Small Business Week, the Internal Revenue Service reminds small business owners and self-employed individuals to take deductions and credits that... Read more >

Category: General Business

Those Who Didn't Pay Social Security Taxes In Their Day Will Now Have To Pay For Medicare

Source: forbes.com - May 16, 2019

Back in the early days of my career, a friend, in his early 30s, had a government job. Tom heckled me a bit because he was not paying Social Security taxes and, on top of that, he had a great... Read more >

Category: General Business

States moving fast on economic nexus standards

Source: taxprotoday.com - May 16, 2019

The 19th annual Bloomberg Tax Survey of State Tax Departments found that states with an economic nexus standard for sales tax more than doubled over the last year in the wake of the Supreme... Read more >

Category: General Business