Income Tax
IRS Identifies 40 Frivolous Income Tax Positions
Earlier this week the IRS published Notice 2007-30, which contains a list of 40 frivolous positions taxpayers should avoid taking on their income…
Hiring a Tax Preparer
In North Carolina, anyone can call himself or herself an accountant (as opposed to a Certified Public Accountant). No special training or…
Filing Taxes Early Can be a Mistake
An article in yesterday’s Wall Street Journal discusses the problem of financial services firms providing late or amended Forms 1099. These forms,…
Tax Relief and Health Care Act of 2006
The Tax Relief and Health Care Act of 2006 was passed into law this week, extending the State and Local Sales Tax…
Year-end Donation and Deduction Tips from the IRS
From a recent IRS e-newsletter: WASHINGTON — Individuals and businesses making contributions to charity should keep in mind several important tax law…
AMT Repeal to Lead to Tax Increase?
From the N.C. State GiftLaw eNewsletter this week: In January of 2007, Rep. Charles Rangel (D-NY) will assume the leadership of the…
Does the IRS Owe You Money?
The IRS is holding $92 million for about 95,000 taxpayers whose refund checks have been returned as undeliverable by the Postal Service….
IRS Announces Income Tax Inflation Adjustments
Each personal and dependency exemption will be $3,400, up $100 from 2006. The new standard deduction will be $10,700 for married couples…
