Tax Articles

These Tax articles will give you the news and information you need to stay up to date in the ever changing Tax industry.

October 23, 2013 – 1,172 views
Tax Professionals' Resource
The Illinois Supreme Court ruled that the nexus law involving clicks on retail ads and orders is preempted in accordance with the Internet Tax Freedom Act (ITFA) of the federal government on Friday. The Act disallows different states from being able to impose different taxes for different electronic transactions. The law of the state also expanded the meaning of ‘retailer’. The definition was changed keeping in mind those who are obligated to pay a sales tax and those who are specifically exempted from this... Full Story 
October 18, 2013 – 1,255 views
Tax Professionals' Resource
A vacation home is a great idea of a person who loves to travel. Owning a home is a great feeling, but owning two houses are definitely better than one. However, during the past few years there has been a steady complication when it comes to buying such property due to the... Full Story 
October 16, 2013 – 1,110 views
Tax Professionals' Resource
If Republicans from the House of Representatives have their way, the medical device tax might be delayed by up to 2 years. The repeal of the tax is one of the preconditions the Republicans have set before they will give their support to raise the debt limit... Full Story 
October 9, 2013 – 1,187 views
Tax Professionals' Resource
Being an employee or employer, you must be well aware of the fact that your pay is subject to withholding and income tax. What about your severance tax? Is that applicable for payroll tax too? While the Internal Revenue Service agrees with that part, not everyone is of the same opinion... Full Story 
October 7, 2013 – 1,214 views
Tax Professionals' Resource
The IRS has proposed some changes to the sections 162 (a) and 263 (a) with respect to reducing expenses related to property. Here, property refers to tangible property. There are also some changes to come about with regard to section 168, wherein dispositions of tangible property under the act will undergo certain tweaks... Full Story 
October 3, 2013 – 1,172 views
Tax Professionals' Resource
Many financial investors will be looking at the developments surrounding the US government shutdown as a prolonged period that could have negative effects in the market. The areas where these effects will take place will be in financial products and the new rules. Except for the most vital operations, many US agencies will start... Full Story 
September 25, 2013 – 1,239 views
Tax Professionals' Resource
There is an old saying, ‘who watches the watchers?’ trying to make a point about how many levels of administration there should be for a perfect system. The infinite loop that exists where there is always somebody who is above the law seems quite flawed. In the same essence, there are now proposals being made by the New York state regarding the regulation of the preparers of tax return laws... Full Story 
September 23, 2013 – 1,068 views
Tax Professionals' Resource
The new tax law mainly exempts most Americans from paying the transfer taxes as most estates will be valued lesser than the exemption amounts. There are several other changes including increase in income tax that require one to revise estate planning... Full Story