News
- 2010 Tax Relief Act
After weeks of intense negotiations between the White House and Congressional leaders, Congress passed and President Obama signed into law a two-year extension of soon-to-have-expired Bush-era tax cuts, including extension of current individual tax rates and capital gains/dividend tax rates. Called the most sweeping tax law in a decade
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- Health Care Reform
The New Health Care Reform law gives an income tax credit to certain small employers that provide health care coverage to their employees effective for tax years beginning in 2010. The credit is taken on the employer’s 2011 tax return. For 2010, the credit is worth up to 35% of the health insurance premiums that an employer pays for his qualifying employees. For not-for-profit organizations, the credit is only worth 25% of any health insurance premiums that the employer pays on behalf of his employees and the credit cannot exceed the not-for profit’s payroll taxes for the applicable year. Exempt organizations that are agencies of a federal, state, local, or Indian tribal government do not qualify for the credit.
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- Eight Things to Know If You Receive an IRS Notice
Did you receive a notice from the IRS this year? Every year the IRS sends millions of letters and notices to taxpayers but that doesn’t mean you need to worry. Here are eight things every taxpayer should know about IRS notices – just in case one shows up in your mailbox.
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