Most Clicked CPA Letter Daily Stories

1. Obama aims to help middle class with tax hike for affluent

CPA Letter Daily | Jan 19, 2015

President Barack Obama is proposing tax increases for the richest Americans to pay for proposed tax breaks for couples who both earn and increased tax credits for child care and higher education. The proposals would increase the top capital gains tax rate and impose capital gains tax on asset transfers at death. Bloomberg (01/17)

2. What's new for this year's individual tax season?

CPA Letter Daily | Jan 20, 2015

This year, individual taxpayers and practitioners who prepare their returns should be aware of a number of new things: the new health care law; new aspects of our virtual, sharing economy; and new foreign financial reporting rules. Annette Nellen, Esq., CPA, CGMA, explains what different questions practitioners should ask their clients before preparing their returns. Tax Insider (01/15)

3. Obama calls for broad range of programs to help middle class

CPA Letter Daily | Jan 21, 2015

President Barack Obama used his State of the Union address to propose tax breaks and spending initiatives aimed at helping the middle class, as well as higher taxes for the wealthy to pay for them. Obama called for free community college, a child care tax credit and a tax benefit for two-income families. Obama said he will veto any efforts to repeal the federal health care program or block his executive action on immigration. Bloomberg (01/20) New York Times (tiered subscription model), The (01/20) Los Angeles Times (tiered subscription model) (01/20)

4. President unveils tax proposals in State of the Union

CPA Letter Daily | Jan 21, 2015

Journal of Accountancy online (01/20)

5. Updated accounting method change procedures issued

CPA Letter Daily | Jan 19, 2015

The IRS updated the rules that taxpayers must use to change their method of accounting for any material item. The new rules apply to automatic and nonautomatic accounting method changes and include a list of automatic changes that do not require IRS consent. Journal of Accountancy online (01/16)

6. World's richest 1% to own 50% of all wealth by 2016

CPA Letter Daily | Jan 20, 2015

The world's wealthiest 1% will own more than 50% of global wealth by 2016, according to poverty-fighting charity Oxfam. In 2014, that share was 48%, up from 44% in 2009, according to Oxfam's research. BBC (01/19)

7. Walmart to offer cash tax refunds at all of its stores

CPA Letter Daily | Jan 21, 2015

USA Today (01/20)

8. 5 busy season best practices

CPA Letter Daily | Jan 20, 2015

Believe it or not, busy season offers many new business and practice development possibilities. Consider reviewing last year's experience to identify lessons learned and past mistakes, examine work flow and other processes to pinpoint potential improvements, and evaluate your clients to determine if they are right for your firm. These are just a few of the tips you'll learn from this Small Firm Solutions article.

9. IRS non-acquiesces in employment tax case

CPA Letter Daily | Jan 23, 2015

The Internal Revenue Service recently announced that it would not follow the Tax Court's holding in Dixon, 141 T.C. 173 (2013), which held that an employer may designate employment tax payments to be credited to the income taxes of specific employees. Deborah Spyker, CPA, explains why the IRS disagreed with this case, which involved a couple who had been criminally prosecuted for nonpayment of taxes. Tax Adviser, The (01/2015)

10. Treasury inspector general for tax administration warns of "ruthless" IRS agent impersonators

CPA Letter Daily | Jan 22, 2015

Hill, The (01/21)

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