Cashing in on Social Security
Article:
Knowing a few simple facts about Social Security can make a big difference in the amount of income your clients receive over a lifetime
Published on January 28, 2011
Truncated Social Security Number Program Extended
Article:
The IRS announced that it is extending and modifying a pilot program allowing filers of certain paper information returns to truncate the payee’s Social Security number on the payee statement
Published on June 30, 2011
Strategies for the Social Security Safety Net
Article:
For approximately the next 20 years, 10,000 people a day will become eligible for Social Security retirement benefits and will be looking to a tax practitioner to help them plan for the future
Published on August 24, 2012
Retirement Plan Strategies After the Financial Crisis
Article:
There remains a sense of financial uncertainty, which makes it harder to plan for the future, yet it’s now more important than ever to develop a proactive retirement strategy.
Published on January 28, 2011
IRS Pilot Program Will Allow Truncated Social Security Numbers on Information Returns
Article:
The IRS announced a pilot program aimed at deterring identity theft. Under the program, filers of certain paper information returns will be allowed to truncate the payee’s Social Security number on the payee statement
Published on April 16, 2010
PTIN Application Process for Preparers Without a Social Security Number
Article:
The IRS provided a process for individuals without a Social Security number to obtain a preparer tax identification number (PTIN
Published on January 04, 2011
CPAs Can Take the Lead in Boomer Financial Planning
Article:
Baby boomers will need a wide range of financial planning services and have the money to pay for them.
Published on May 21, 2010
IRS Develops New Form for Misclassified Workers
Article:
The IRS has developed a new form for employees who have been misclassified as independent contractors to report their share of uncollected Social Security and Medicare taxes: Form 8919, Uncollected Social Security and Medicare Tax on Wages
Published on May 21, 2010
South Carolina Taxpayer Information Stolen
Article:
South Carolina is providing affected taxpayers a year of credit monitoring after a hacker stole information including 3.8 million Social Security numbers and 387,000 credit and debit card numbers from its computer systems
Published on December 31, 2012
The Voluntary Classification Settlement Program
Article:
In hopes of increasing tax compliance, the IRS has announced a Voluntary Classification Settlement Program to allow eligible taxpayers to voluntarily reclassify their workers as employees for federal employment tax purposes.
Published on August 24, 2012
Who Is an Eligible Hire for the Latest Employer Tax Incentives
Article:
The Hiring Incentives to Restore Employment (HIRE) Act may include opportunities for your firm and your clients — if a “qualified individual” is hired.
Published on January 28, 2011
Guidance Distinguishes Tips and Service Charges
Article:
The IRS issued question-and-answer guidance for distinguishing between tips and service charges for FICA tax and other purposes.
Published on August 31, 2012
Court Reverses Broad-Based FICA Exclusion for Severance Payments
Article:
In March 2008, the Federal Circuit reversed a decision of the Court of Federal Claims that the qualification of payments as supplemental unemployment benefits under Sec. 3402 required the payments to be treated as nonwages for FICA tax purposes.
Published on May 12, 2010
Self-Directed IRAs Advantages, Challenges, and Options
Article:
A self-directed IRA is simply an account in which the custodian agrees to allow the taxpayer to exercise greater control over investment decisions.
Published on May 24, 2010
Classification as a Statutory Employee
Article:
Statutory employee status may be beneficial for both an employee and his or her employer; however, an employee must meet specific requirements to qualify as a statutory employee. This article discusses the rules regarding statutory employee status set out in the Code and the regulations and how these rules have
Published on December 01, 2010