ComproTax Talks!

Franklin, N.C. (Dec. 17, 2007)
By WebCPA staff

The Internal Revenue Service has appointed Tim Hubbs, president and CEO of Drake Software, as the chairman of its Electronic Tax Advisory Committee.
The 14-member committee provides a public forum in which the IRS and tax professionals discuss electronic tax administration issues. The committee originated with the IRS Restructuring [...]

Read Full Post »

NEW YORK, Sept 20 (Reuters) - Jackson Hewitt Tax Service Inc (JTX.N: Quote, Profile, Research), the second-largest U.S. tax preparer, on Thursday said it has reached an agreement with the U.S. Internal Revenue Service to resolve a previously disclosed audit of the company, and will make a voluntary compliance payment of $1.5 million.
In [...]

Read Full Post »

That’s how House Ways and Means Committee Chairman Charles Rangel described his planned proposal to overhaul the tax code.
The measure, said the New York Democrat, will be the most sweeping tax reform since the historic 1986 tax act. Rangel’s measure is expected to call for repeal of the alternative minimum tax, reduce payments for [...]

Read Full Post »

The powerful chairman of the House Ways and Means Committee talks about taxes, the wealthy, trade, and Hillary.

It took him a while—36 years—but Representative Charles Rangel, the Harlem Democrat, is finally one of the most powerful figures in Washington: chairman of the mighty House Ways and Means Committee, which originates all federal tax legislation. And [...]

Read Full Post »

what to think? Countrywide Financial gets 2 billion from Bank of America and draws down 11 billion from lines of credit. Yet now they lay off 20% of their work force, and are negotiating with other banks and hedge funds (!) What’s next, a loan from the Teamsters’ Trust Fund? or the Mafia? Does this [...]

Read Full Post »

The IRS has issued an announcement to employers that they should be aware of two changes to the credit for the portion of employer Social Security paid with respect to employee cash tips known as the 45B Credit. These changes are the result of recently enacted legislation.The law now requires employers to determine their credit [...]

Read Full Post »

WASHINGTON - September 5 - More than 300 national, state and local nonprofit organizations signed a letter sent today to members of Congress urging them to eliminate a tax loophole that allows mega-rich private equity and hedge fund managers to pay federal taxes at a lower rate than middle-income people. Among the signatories are unions, [...]

Read Full Post »

Borrowers would benefit from broader FHA access; some experts question bailout concept
By Mary Umberger | Tribune staff reporter
September 1, 2007

President Bush’s plan to help troubled mortgage [...]

Read Full Post »

If you’d happened to pick up the report on boosting tax collections released by the Internal Revenue Service on August 2, you’d know it wasn’t exactly light summer reading. Entitled “Reducing the Federal Tax Gap: A Report on Improving Voluntary Compliance,” the hefty document aims to close that “gap” between the cash IRS officials think [...]

Read Full Post »

North Charleston, SC  29406

August 28 2007

The IRS has recently proposed changes to its National and Local Standards for allowable living expenses. And JK Harris and Company is giving those suggested changes a big thumbs up.
The standards are what the IRS uses to determine a taxpayer’s ability to pay a delinquent [...]

Read Full Post »