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Why IRS Form 1099 Is So Dangerous To Your Tax Bill

Published on: Jan 23, 2015 | Tagged in: News,News

How harmful could a little Form 1099 be anyhow? They are small, look innocent enough, and there are so many of them! That might lull you into thinking they don’t count. But be careful. It’s Form 1099 season, and companies big and small are churning them out. If you’re in business–even as a sole proprietor–you also may need to issue them. The burden on…

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Tax Preparers Get Ready To Be Bearers Of Bad News About Health Law

Published on: Jan 23, 2015 | Tagged in: News,News

Are you thinking about tax day yet? Your friendly neighborhood tax preparer is. IRS Commissioner John Koskinen declared this tax season one of the most complicated ever, partly because this is the first year that the Affordable Care Act will show up on your tax form. Tax preparers from coast to coast are trying to get ready. Sue Ellen Smith…

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‘Miserable’ tax season could be worst in years

Published on: Jan 23, 2015 | Tagged in: News,News,News,Press Release

NEW YORK (CNNMoney) The upcoming tax season is likely to be the worst in years — for the IRS and potentially for taxpayers. The reason: The IRS budget keeps getting smaller, and the tax code keeps getting more complicated. Nina Olson, the national taxpayer advocate, said at a conference recently that she worries it could rank as the worst since…

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Obama’s new tax plan shows what a mess the tax code already is

Published on: Jan 23, 2015 | Tagged in: News,News

  President Obama and many other poobahs in Washington, D.C., say it’s essential to simplify the U.S. tax code. But for now, it’s necessary to complicate it. Obama’s tax proposals for 2015 include a new “second earner” tax credit, an expansion of the earned-income tax credit, new tax incentives to help cover child-care expenses, and several provisions meant to make…

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