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		<title>Tax Professionals' Resource </title>
		<link>http://www.taxprofessionalsresource.com/</link>
		<description></description>
		<language>en-us</language>
		<lastBuildDate>Thu, 23 Feb 2012 01:17:45 CST</lastBuildDate>
		<webMaster>webmaster@taxprofessionalsresource.com (Webmaster)</webMaster>
		<item>
			<title><![CDATA[IRS Unveils New Version of Smartphone App]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5282</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5282</link>
			<description><![CDATA[-IRS announced the availability of IRS2Go 2.0. 
-Smartphone app provides taxpayers easier access to practical tools and information. 
-New app is available on Apple and Android platforms.]]></description>
			<pubDate>Thu, 09 Feb 2012 11:40:25 CST</pubDate>
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		<item>
			<title><![CDATA[The Ins and Outs of New Reporting Rules in 2012]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5248</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5248</link>
			<description><![CDATA[New cost basis reporting rules now apply, for the first time ever, to Form 1099-B sent to investors and the IRS. But other onerous reporting rules for businesses and landlords scheduled to take effect in 2012 have been repealed. 
 
Are you confused? You're not alone. Here's a brief recap on what is and isn't taking place this year.]]></description>
			<pubDate>Thu, 02 Feb 2012 13:13:26 CST</pubDate>
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		<item>
			<title><![CDATA[Understanding Texas Natural Gas Severance Tax Incentives]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5220</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5220</link>
			<description><![CDATA[This article presents 3 of the most valuable natural gas severance tax incentives available for producer/operators in Texas. It describes the high cost gas, flared/released gas, and orphan well exemptions in detail; with discussion on the certification and approval process, benefits, reporting issues and how to recover previous tax paid. The article ends with a series of practical recommendations to help smooth the reader through the approval process.]]></description>
			<pubDate>Tue, 31 Jan 2012 10:45:26 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Cluttered Desk, Cluttered Mind]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5207</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5207</link>
			<description><![CDATA[-Don't use your desk as a storage station. 
-Put client files on the floor rather than on your desk. 
-Learn to respond to client requests based on your existing schedule as opposed to ?ASAP.? 
-Make changes and communicate those changes with your clients.]]></description>
			<pubDate>Fri, 27 Jan 2012 10:43:15 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[There's Still Time to Renew Your 2012 PTIN]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5201</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5201</link>
			<description><![CDATA[The Internal Revenue Service (IRS) is giving procrastinators a second chance. It says it will continue to accept renewals for Preparer Tax Identification Numbers (PTINs) after the official deadline for 2012 has passed.]]></description>
			<pubDate>Thu, 26 Jan 2012 15:48:03 CST</pubDate>
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		<item>
			<title><![CDATA[Payroll Tax Takes Another Holiday]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5175</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5175</link>
			<description><![CDATA[After a bitter political dispute gridlocked Congress for several weeks, our nation's lawmakers finally agreed to a compromise extension of the so-called "payroll tax holiday." The new law signed by the president on December 23 ? the Temporary Payroll Tax Cut Continuation Act of 2011 ? keeps the payroll tax break alive for another two months. Without this legislation, the payroll tax holiday would have expired midnight December 31.]]></description>
			<pubDate>Thu, 19 Jan 2012 09:32:09 CST</pubDate>
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			<title><![CDATA[IRS Targets the Super-Rich for More Audits]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5166</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5166</link>
			<description><![CDATA[For taxpayers earning more than $1 million annually, the audit rate was approximately 12 percent in 2011. 

In 2011, 1 percent of corporations with assets under $10 million were audited. 

Be prepared for greater scrutiny of your high-earning clients' returns.]]></description>
			<pubDate>Tue, 17 Jan 2012 16:13:11 CST</pubDate>
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			<title><![CDATA[IRS Kicks Off 2012 Tax Season with Deadline Extended to April 17]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5115</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5115</link>
			<description><![CDATA[On January 4, the Internal Revenue Service (IRS) announced that taxpayers have until April 17, 2012, to file their tax returns. The IRS encourages taxpayers to e-file as it's the best way to ensure accurate tax returns and get faster refunds.]]></description>
			<pubDate>Thu, 05 Jan 2012 16:11:01 CST</pubDate>
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			<title><![CDATA[NTEU President: IRS Budget Cuts Will Hinder Service to CPAs, Clients]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5114</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5114</link>
			<description><![CDATA[National Treasury Employees Union (NTEU) President, Colleen M. Kelley, is understandably "pleased" that Congress finally put away its bipartisan bickering, allowing President Obama to sign into law December 23 a large scale omnibus spending agreement. The agreement will avert a "costly" government shutdown and fund government services for the rest of the fiscal year.]]></description>
			<pubDate>Thu, 05 Jan 2012 16:10:00 CST</pubDate>
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		<item>
			<title><![CDATA[IRS Announces 2012 Standards Mileage Rates]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5110</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5110</link>
			<description><![CDATA[IR-2011-116

 
WASHINGTON ? The Internal Revenue Service (IRS) today issued the 2012 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.]]></description>
			<pubDate>Thu, 05 Jan 2012 16:01:20 CST</pubDate>
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			<title><![CDATA[Reznick's Interactive Map Finds Locations Eligible for NMTC Financing]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5057</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5057</link>
			<description><![CDATA[A top 20 accounting firm has created a new online tool that makes it easier to determine when investors can qualify for the New Markets Tax Credit (NMTC) Program.]]></description>
			<pubDate>Mon, 12 Dec 2011 14:13:04 CST</pubDate>
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		<item>
			<title><![CDATA[Charitable Rollovers Are Set to Fall off the Table]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5051</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5051</link>
			<description><![CDATA[Unless Congress takes action soon, on December 31, 2011, a unique tax break for senior citizens will be wiped off the books. This tax law provision allows qualified taxpayers to "roll over" funds tax-free from an IRA to a charity.]]></description>
			<pubDate>Mon, 12 Dec 2011 13:53:19 CST</pubDate>
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			<title><![CDATA[QR Codes Provide New Way To Market Your Practice]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5036</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5036</link>
			<description><![CDATA[Have you considered QR Codes to promote your accounting practice? QR (Quick Response) Codes are a black and white patterned square able to house specific information.]]></description>
			<pubDate>Wed, 16 Nov 2011 15:42:22 CST</pubDate>
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		<item>
			<title><![CDATA[Sales Tax on Online Purchases Is On the Rise]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5033</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5033</link>
			<description><![CDATA[This holiday season, online shoppers will find more states are looking to make sure gift givers also give their state its fair share ? in terms of sales tax for online purchases, according to CCH, a Wolters Kluwer business and a global provider of tax, accounting and audit information, software, and services. Last year, online shoppers spent more than $1 billion just on Cyber Monday, and online shopping this holiday season is expected to continue to grow at a double-digit rate.]]></description>
			<pubDate>Wed, 16 Nov 2011 15:36:25 CST</pubDate>
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			<title><![CDATA[Rick Perry's Tax Plan Opens 'Intriguing' Debate]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5001</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=5001</link>
			<description><![CDATA[Texas Gov. and Republican presidential candidate Rick Perry entered the tax reform fray recently when he made good on his debate promise to "bump plans" with fellow candidate Herman Cain's 9-9-9 tax proposal by introducing his own "Cut, Balance and Grow" economic stimulus plan.]]></description>
			<pubDate>Tue, 15 Nov 2011 08:47:18 CST</pubDate>
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			<title><![CDATA[IRS to Require Filing of Due Diligence Checklist]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4908</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4908</link>
			<description><![CDATA[On October 6, 2011, the Internal Revenue Service (IRS) announced that it is issuing proposed regulations that would require paid tax return preparers, beginning in 2012, to file a due diligence checklist, Form 8867, with any federal return claiming the Earned Income Tax Credit (EITC). It is the same form that is currently required to be completed and retained in a preparer's records.]]></description>
			<pubDate>Tue, 08 Nov 2011 14:03:24 CST</pubDate>
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		<item>
			<title><![CDATA[Tax Preparer Continuing Education Likely to Reveal Changing Tax Rules]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4984</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4984</link>
			<description><![CDATA[Professionals with tax preparation careers should pay attention to the jobs legislation that President Obama is pushing Congress to pass. The proposed bill contains provisions for limiting itemized deductions of certain taxpayers as a means to enhance government revenue.]]></description>
			<pubDate>Tue, 08 Nov 2011 14:01:10 CST</pubDate>
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		<item>
			<title><![CDATA[Halt! District Court Judge Blocks H&R Block Merger]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4961</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4961</link>
			<description><![CDATA[A district court judge has stopped H&R Block, the country's largest tax-preparation service, from buying out the maker of TaxAct software. The proposed deal would have eliminated a competitor that is undercutting the household name through lower pricing and product innovation.]]></description>
			<pubDate>Thu, 03 Nov 2011 16:24:20 CDT</pubDate>
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			<title><![CDATA[Government Forces Showdown over H&R Block Merger with TaxAct]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4959</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4959</link>
			<description><![CDATA[The government is seeking to block a proposed merger by H&R Block, the country's largest tax preparation firm, in its first antitrust action in seven years (U.S. v. H&R Block, Inc., 1:11-cv-00948, U.S. District Court, District of Columbia). The outcome will likely resonate loudly throughout the industry.]]></description>
			<pubDate>Thu, 03 Nov 2011 16:19:11 CDT</pubDate>
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		<item>
			<title><![CDATA[AICPA: IRS Should Revise Proposed Regs Regarding Competency Exam and Fingerprinting for Tax Preparers]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4958</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4958</link>
			<description><![CDATA[In a letter dated October 7, 2011, to Douglas H. Shulman, commissioner of the Internal Revenue Service (IRS), Patricia A. Thompson, CPA, chair of the American Institute of CPAs (AICPA) Tax Executive Committee, urged the IRS to make changes to the user fee regulations it has proposed for tax return preparers as part of its preparer oversight program.]]></description>
			<pubDate>Thu, 03 Nov 2011 16:17:28 CDT</pubDate>
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		<item>
			<title><![CDATA[Moving To the Cloud: What, When, and How?]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4937</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4937</link>
			<description><![CDATA[Recently the conversation in the enterprise IT department has shifted for many from "should we be moving to the Cloud?" to "what, when and how are we moving to the Cloud" as many of the key benefits of the Cloud model - reduced costs and management overhead, flexibility and scalability and accessibility - become increasingly well understood and accepted.]]></description>
			<pubDate>Tue, 18 Oct 2011 16:30:16 CDT</pubDate>
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			<title><![CDATA[Recap of tax winners and losers in new jobs bill]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4873</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4873</link>
			<description><![CDATA[President Obama has proposed a number of significant tax changes in the American Jobs Act of 2011, including payroll tax cuts, tax credits to encourage hiring, extension of the 100 percent bonus depreciation tax break, and several revenue-raisers. Overall, the recommendations in Obama's de&#64257;cit reduction plan would raise an estimated $1.5 trillion over ten years. Next move: It's up to Congress to take action on the bill.]]></description>
			<pubDate>Thu, 29 Sep 2011 13:23:58 CDT</pubDate>
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			<title><![CDATA[IRS issues new guidance on tax treatment of cell phones]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4874</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4874</link>
			<description><![CDATA[The Internal Revenue Service (IRS) has issued guidance and also a new memo which together clarify the tax treatment of cell phones provided by employers and cell phone reimbursement plans.]]></description>
			<pubDate>Thu, 29 Sep 2011 13:23:43 CDT</pubDate>
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			<title><![CDATA[Feds charge tax pro with filing thousands of false returns]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4871</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4871</link>
			<description><![CDATA[Do you tell your clients to comply with the tax law? Make sure you practice what you preach. In an extreme example, a tax return preparer in Washington D.C. is facing criminal charges in federal court for allegedly scamming the IRS out of almost $14 million.]]></description>
			<pubDate>Thu, 29 Sep 2011 13:14:21 CDT</pubDate>
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			<title><![CDATA[Amazon, California reach agreement in sales tax battle]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4766</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4766</link>
			<description><![CDATA[Lawmakers in California say they've reached a truce with Amazon in a contentious disagreement over whether the online bookseller should collect state sales tax.&nbsp;]]></description>
			<pubDate>Mon, 12 Sep 2011 13:35:08 CDT</pubDate>
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			<title><![CDATA[IRS announces topics for tax return preparer test]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4767</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4767</link>
			<description><![CDATA[The Internal Revenue Service (IRS) has released the specifications for the competency test individuals must pass to become a Registered Tax Return Preparer.]]></description>
			<pubDate>Mon, 12 Sep 2011 12:03:29 CDT</pubDate>
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			<title><![CDATA[AICPA Letter Requests Extension for 2010 Decedent Tax Forms]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4703</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4703</link>
			<description><![CDATA[In an&nbsp;August 8, 2011, letter to the Internal Revenue Service (IRS), the American Institute of Certified Public Accountants (AICPA) requested a blanket extension of time to file the 2010 Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, and the 2010 Form 8939, Allocation of Increase in Basis for Property Acquired from a Decedent, for the estates of persons who died in 2010. The AICPA letter also asked the IRS to extend the time to pay any estate tax for 2010 as well as to extend the due date of the 2011 Form 706 for estates of 2011 decedents.]]></description>
			<pubDate>Mon, 12 Sep 2011 11:16:21 CDT</pubDate>
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			<title><![CDATA[IRS faces challenges keeping up with the regulations]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4739</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4739</link>
			<description><![CDATA[Turns out, it's not just taxpayers who find the tax code confusing. The Internal Revenue Service (IRS) itself is having a hard time keeping up with constantly changing tax laws.]]></description>
			<pubDate>Fri, 09 Sep 2011 11:17:39 CDT</pubDate>
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			<title><![CDATA[US Immigration and Tax]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4676</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4676</link>
			<description><![CDATA[US citizens are not the only ones who have to file&nbsp;tax returns. Certain US immigrants and residents may also have to file, depending on their immigration status in the US.]]></description>
			<pubDate>Thu, 11 Aug 2011 16:11:49 CDT</pubDate>
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			<title><![CDATA[IRS grounds tax refunds for airline passengers]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4670</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4670</link>
			<description><![CDATA[Despite earlier reports, passengers who booked flights before certain excise taxes for airline  travel expired won't be entitled to tax refunds after all.]]></description>
			<pubDate>Wed, 10 Aug 2011 13:28:31 CDT</pubDate>
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			<title><![CDATA[IRS slow to tell taxpayers when their information was disclosed]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4653</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4653</link>
			<description><![CDATA[Just as the Obama administration seeks to protect consumers from breaches of  personal privacy, the IRS is being told that it's too slow to tell taxpayers  when their personal information wasn't kept private.]]></description>
			<pubDate>Tue, 02 Aug 2011 09:48:38 CDT</pubDate>
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			<title><![CDATA[IRS asks airlines to refund tax on plane tickets sold before July 23]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4652</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4652</link>
			<description><![CDATA[In a notice posted on the  IRS Web site, the IRS points out that the laws authorizing airline ticket tax  and other aviation-related taxes have expired as of midnight July 22, 2011.]]></description>
			<pubDate>Tue, 02 Aug 2011 09:42:25 CDT</pubDate>
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			<title><![CDATA[California tax amnesty program opens August 1]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4651</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4651</link>
			<description><![CDATA[Under a law passed by the legislature in March, taxpayers who  underreported their California income tax liabilities through the use of abusive tax avoidance  transactions (ATAT) or offshore financial arrangements  (OFA) will be permitted to obtain a waiver of most penalties if  they amend their returns for 2010 and all prior years in which  there is underreported income. Taxpayers will be required to pay all tax and  interest that is owed.]]></description>
			<pubDate>Tue, 02 Aug 2011 09:39:45 CDT</pubDate>
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			<title><![CDATA[Cloud Computing: Trendy or Transformational]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4617</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4617</link>
			<description><![CDATA[In the world of information technology, it seems that every few years a new concept comes along that emerges as being the next great leap in technology. One of the current concepts that fits that description in the IT world is called cloud computing. However, before a company decides that it will embrace cloud computing, it needs to make sure that it understands all the implications of this new offering.]]></description>
			<pubDate>Tue, 12 Jul 2011 14:58:43 CDT</pubDate>
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			<title><![CDATA[Accounting Methods]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4600</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4600</link>
			<description><![CDATA[An accounting method is the method that a company or individual  chooses to book transactions and prepare financial statements. There are  two types of accounting methods: cash basis and accrual accounting. The  main difference between the two is the way the company books the  receipt of and the paying of cash from the business. The choice of  accounting method can lead to very different looking financial  statements.]]></description>
			<pubDate>Mon, 11 Jul 2011 15:37:15 CDT</pubDate>
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			<title><![CDATA[Taxpayer Advocate: Cuts to IRS would hinder tax collection efforts]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4599</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4599</link>
			<description><![CDATA[National Taxpayer Advocate Nina Olson is telling lawmakers to leave the IRS alone when it comes to budget cuts.]]></description>
			<pubDate>Mon, 11 Jul 2011 15:16:11 CDT</pubDate>
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			<title><![CDATA[IRS announces mid-year increase to standards mileage rate]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4589</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4589</link>
			<description><![CDATA[Bowing to pressure from Congress and recognizing that gas prices have increased,  the Internal Revenue Service (IRS) has announced an increase in the optional  standard mileage rates for the final six months of 2011. Taxpayers may use the  optional standard rates to calculate the deductible costs of operating an  automobile for business and other purposes.]]></description>
			<pubDate>Wed, 06 Jul 2011 11:20:46 CDT</pubDate>
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			<title><![CDATA[Do You Need A State Tax "Playbook"?]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4588</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4588</link>
			<description><![CDATA[I was reading the article about Plaxico Burress in the  Wall Street Journal a week ago.  Plaxico just recently got of prison and is  wanting to play football for just about any NFL team that will give him a  chance.  In the article, he says, "just give me a  playbook."]]></description>
			<pubDate>Wed, 06 Jul 2011 11:19:01 CDT</pubDate>
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			<title><![CDATA[IRS extends FBAR filing deadline for certain individuals]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4562</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4562</link>
			<description><![CDATA[The Internal Revenue Service and the Financial Crimes Enforcement  Network (FinCEN) have announced that a small subset of individuals with  only signature authority required to file the Report of Foreign Bank and  Financial Accounts (FBARs) will receive a one-year extension beyond the  upcoming filing date of June 30, 2011.]]></description>
			<pubDate>Mon, 13 Jun 2011 14:15:55 CDT</pubDate>
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			<title><![CDATA[AICPA Spring Council includes focus on tax simplification issues]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4533</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4533</link>
			<description><![CDATA[For attendees at the spring meeting of AICPA Council in Washington, D.C, the key issues were all about fairness, simplicity, and innovation in the tax code. The three-day event included remarks by the Center for Audit Quality, an update on the Audit Quality Centers from AICPA Vice President Susan Coffey, the announcement of a new managerial accounting credential, and an update on professional issues and IFRS readiness from AICPA President and CEO, Barry C. Melancon, CPA.]]></description>
			<pubDate>Fri, 03 Jun 2011 11:17:45 CDT</pubDate>
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			<title><![CDATA[IRS watchdog tells of billions of dollars in losses]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4515</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4515</link>
			<description><![CDATA[Improper payments by the IRS are costing taxpayers billions each year.So said J. Russell George, the Treasury Inspector General for Tax  Administration in congressional testimony Wednesday. At issue are  several kinds of refundable tax credits, but most of the fraud stems  from the Earned Income Tax Credit, or EITC.]]></description>
			<pubDate>Tue, 31 May 2011 16:33:04 CDT</pubDate>
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			<title><![CDATA[Roundup of tax software reviews]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4491</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4491</link>
			<description><![CDATA[Are you disappointed with the tax software you've been using? Have you  outgrown your program? Have your needs changed? For whatever reason, are  you in the market for new tax software? Here's a small collection of  tax software reviews from around the 'net &ndash; the results of these reviews  might make your decision easier.]]></description>
			<pubDate>Fri, 20 May 2011 16:19:14 CDT</pubDate>
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			<title><![CDATA[Survey results: Heightened call for transparency is biggest challenge for multinationals]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4472</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4472</link>
			<description><![CDATA[A majority of multinational company tax executives predict that a  broadened international regulatory focus on increased transparency will  be the most significant change their company can expect in international  taxation over the next year, according to a survey by Big Four firm  KPMG LLP. The survey was conducted in connection with KPMG&rsquo;s annual  International Tax Conference.]]></description>
			<pubDate>Thu, 12 May 2011 16:22:15 CDT</pubDate>
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			<title><![CDATA[Could you be breaking the law by not archiving e-mails?]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4441</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4441</link>
			<description><![CDATA[It's 4:30 on Friday afternoon when you get the message that a key   vendor will not be able to deliver what was promised on time, which  will  in turn cause YOU to miss a critical deadline for your most  important  client. Frustrated, you call the vendor, who instantly denies  ever being  told about the deadline. You know deadlines were discussed  but can't  find it in your original written agreement. You then turn to  your e-mail  only to be forced to dig through hundreds of messages to  try and find  the e-mail where you conveyed the importance of this  project being  delivered on time, but you can't find it because it was  deleted.]]></description>
			<pubDate>Mon, 09 May 2011 15:21:57 CDT</pubDate>
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			<title><![CDATA[IRS wants comments on employer provisions of Affordable Care Act]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4436</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4436</link>
			<description><![CDATA[The Treasury Department and Internal Revenue Service (IRS) have  requested public comment on issues relating to the shared responsibility  provisions included in the Affordable Care Act that will apply to  certain employers starting in 2014.]]></description>
			<pubDate>Mon, 09 May 2011 15:05:25 CDT</pubDate>
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			<title><![CDATA[IRS Gets Serious About Return Preparer Rules]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4412</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4412</link>
			<description><![CDATA[The Internal Revenue Service is taking steps to stop tax preparers with  criminal tax convictions or permanent injunctions from preparing tax returns.  This is just one of several recent moves to improve the quality and oversight of  the tax preparation industry.]]></description>
			<pubDate>Mon, 25 Apr 2011 14:11:05 CDT</pubDate>
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			<title><![CDATA[1040 e-file disaster averted: How to meet the filing deadline when your tax return has been rejected]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4406</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4406</link>
			<description><![CDATA[Procrastinators beware! Just because you e-filed your tax return before  Midnight on April 18, that doesn't mean your tax return is timely filed.  The IRS can take up to two days to formally accept the electronically  filed tax return once the return is dispatched. What should you do if  you e-filed a tax return before the clock struck 12, but then the next  day, after the filing deadline has passed, you receive a rejection  notice from the IRS stating that the e-filed return was not accepted?]]></description>
			<pubDate>Thu, 21 Apr 2011 16:03:10 CDT</pubDate>
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			<title><![CDATA[IRS Sets Automobile Depreciation Deduction Limits]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4351</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4351</link>
			<description><![CDATA[The IRS has recently released Revenue Procedure 2011-21 which provides  limitations on depreciation deductions and lessee inclusions amounts for  owners of passenger automobiles, trucks, vans, and electric automobiles  first placed in service during the 2011 calendar year.]]></description>
			<pubDate>Wed, 20 Apr 2011 14:37:46 CDT</pubDate>
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			<title><![CDATA[Student tax preparers perform 'marriage' ceremony]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4350</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4350</link>
			<description><![CDATA[Accounting students preparing tax returns at Northeastern State  University's VITA clinic got to say, "I now pronounce you... Married  Filing Jointly."When you prepare taxes for a living &ndash; or in this case, as a  volunteer &ndash; you never know what the day might bring. Maybe you'll get  off easy with mostly 1040-EZs. Maybe you'll be asked to build a  corporate return out of a shoebox full of crumpled receipts. Or just  maybe&hellip; you'll perform a wedding.]]></description>
			<pubDate>Thu, 07 Apr 2011 11:36:29 CDT</pubDate>
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			<title><![CDATA[IRS Announces Another New Filing Deadline]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4349</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4349</link>
			<description><![CDATA[The IRS has announced a new filing deadline for Form 8939, Basis  for Property Acquired from a Decedent. Formerly due April 18, the new  filing date has not been announced.The Treasury Department and the Internal Revenue Service (IRS) have  announced that Form 8939 is not due on April 18, 2011, and should not be  filed with the final Form 1040 of persons who died in 2010. New  guidance that announces the form due date will be issued at a later date  and Form 8939 will be released soon after guidance is issued.]]></description>
			<pubDate>Thu, 07 Apr 2011 11:33:30 CDT</pubDate>
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			<title><![CDATA[Tax scams on the front burner at the IRS]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4317</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4317</link>
			<description><![CDATA[In case you're thinking that maybe Wesley Snipes has  a good point when it comes to lowering income taxes, the Internal  Revenue Service wants to remind taxpayers (or non-payers, as the case  may be) that it does not plan on ignoring many of the more common  arguments made by individuals and groups that oppose compliance with  federal tax laws.&nbsp;The IRS states that anyone who contemplates arguing  on legal grounds against paying his or her fair share of taxes should  first read the 84-page document, The Truth About Frivolous Tax Arguments.]]></description>
			<pubDate>Mon, 14 Mar 2011 14:55:47 CDT</pubDate>
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			<title><![CDATA[Eleven cool mobile apps for running your practice]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4277</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4277</link>
			<description><![CDATA[We recently featured five cool Web apps for running your firm that  were highly recommended by your accounting colleagues. Now we're going  to stay on the productivity app beat and take a look at mobile devices.]]></description>
			<pubDate>Wed, 02 Mar 2011 15:03:51 CST</pubDate>
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			<title><![CDATA[Creating a Memorable 'About Us' page for your site]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4296</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4296</link>
			<description><![CDATA[It is tax season again, which means that people are shopping for accountants.  When potential clients are researching and evaluating your firm, the first step  will be to do a quick Google search and find your web site.]]></description>
			<pubDate>Wed, 02 Mar 2011 15:03:41 CST</pubDate>
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			<title><![CDATA[Cash earnings are non-taxable? Enrolled agents discuss most common taxpayer misconceptions]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4276</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4276</link>
			<description><![CDATA[One of this year's widest-spread misconceptions came in the wake of  the IRS announcement that employers must now report medical insurance  paid for employees. Duped by a viral e-mail, taxpayers across the  country mistakenly believe that medical insurance must now be reported  as income and taxed. Not true. The expense will be reported on the W-2,  and not added to income.]]></description>
			<pubDate>Mon, 21 Feb 2011 16:17:49 CST</pubDate>
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			<title><![CDATA[A cautionary tale: Busy season can be life threatening]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4222</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4222</link>
			<description><![CDATA[During the tax season of 1995-1996, Norm Lorch was not feeling well. He had a  sore throat, but told himself it would go away. In any case, he did not have  time to go to a doctor.Eventually, he spoke with a doctor on the phone who prescribed antibiotics  - two weeks on and off - but he still did not feel much better. At one point,  Lorch passed out, but he told himself that he had tripped on something, picked  himself up, and went back to work. &nbsp; While attending an American Bar Association conference, Lorch met a friend  who would be conducting the session he was planning to attend. The friend told  him in "pretty clear English" how he looked and said he needed to see a doctor.  Lorch said no, but the friend insisted, saying that if Lorch didn't call a  doctor, he would stop the session.]]></description>
			<pubDate>Wed, 16 Feb 2011 16:04:04 CST</pubDate>
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			<title><![CDATA[It's the preparer, not the software]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4223</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4223</link>
			<description><![CDATA[Tax season is upon us. And, every year, nuances of the tax returns seem to  get a little more intertwined. Lawmakers' tax simplification acts never simplify  much and paperwork reduction legislation seem to add more pages to the return.  And that's just at the federal level. All praise whoever thought up tax software  or we would never get through it.]]></description>
			<pubDate>Wed, 09 Feb 2011 16:03:05 CST</pubDate>
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			<title><![CDATA[Free spreadsheet-based Form 1040 available for 2010 tax year]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4226</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4226</link>
			<description><![CDATA[Glenn Reeves of Burlington, Kansas, has created a free Microsoft  Excel-based version&nbsp;of the 2010 U.S. Individual Tax Return, commonly known as  Form 1040.&nbsp;The spreadsheet includes both pages of Form 1040, as well as these  supplemental schedules:&nbsp;Schedule A &ndash; Itemized Deductions Schedule B &ndash; Ordinary Interest and Ordinary Dividends Schedule C &ndash; Profit or Loss from Business Schedule D &ndash; Capital Gains and Losses, along with its worksheet Schedule L &ndash; Standard Deduction for Certain Filers Schedule M &ndash; Making Work Pay Credit Schedule SE &ndash; Self-Employment Tax Form 6251 &ndash; Alternative Minimum Tax &ndash; Individuals ]]></description>
			<pubDate>Wed, 09 Feb 2011 12:20:19 CST</pubDate>
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			<title><![CDATA[Five cool Web apps for running your firm]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4198</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4198</link>
			<description><![CDATA[You've probably noticed that most new software is now developed for the  Web rather than the desktop. This actually isn't a trend; instead, I  expect Web-developed software to become the norm, and perhaps even accelerate, in the years ahead.]]></description>
			<pubDate>Thu, 03 Feb 2011 16:04:47 CST</pubDate>
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			<title><![CDATA[Minnesota's Angel Tax Credit: "Proprietary Technology" Requirement]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4179</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4179</link>
			<description><![CDATA[Minnesota's Angel Tax Credit (defined in Minn. Stat. 116J.8737) provides an array of investors who are natural persons1 the opportunity to receive a 25-percent individual income tax credit (maximum $125,000 per year per individual or $250,000 for those filing jointly) for investing in small businesses that are primarily focused on technological innovation. To qualify for the credit, both the investors and the invested-in entity must meet certain requirements. The Minnesota Department of Employment and Economic Development("DEED") website2 lists the basic business criteria for qualification3, and generally requires that the business be headquartered in Minnesota, have fewer than 25 employees and a minimum of 51 percent of employees and 51 percent of payroll in Minnesota. There are other qualification requirements for the investors4.]]></description>
			<pubDate>Wed, 26 Jan 2011 16:33:47 CST</pubDate>
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			<title><![CDATA[Does tax court jurisdiction extend to U.S. Virgin Islands?]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4143</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4143</link>
			<description><![CDATA[Generally, a U.S. citizen or resident who has income from sources within  the U.S. Virgin Islands or income effectively connected with a trade or  business in the U.S. Virgin Islands is required to file an income tax  return with both the United States and the U.S. Virgin Islands.]]></description>
			<pubDate>Tue, 11 Jan 2011 16:14:52 CST</pubDate>
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			<title><![CDATA[IRS order to wait puts additional pressure on accounting firms]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4144</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4144</link>
			<description><![CDATA[The Internal Revenue Service has announced that taxpayers affected by  three recently reinstated deductions need to wait until mid- to late  February to file their individual tax returns, as do those taxpayers who  itemize deductions on Form 1040 Schedule A.The IRS will need to reprogram its processing systems for three provisions that were extended in the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 that became law on December 17. The start of the 2011 filing season  will begin in January for the majority of taxpayers, according to the  agency.]]></description>
			<pubDate>Tue, 11 Jan 2011 16:14:07 CST</pubDate>
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			<title><![CDATA[Take Advantage of New Tax Law Opportunities ]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4111</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4111</link>
			<description><![CDATA[On December 17, 2010 the President signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the 2010 Tax Relief Act), temporarily extending the Bush-era temporary tax cuts. This new law creates a limited window for you to take advantage of some new and unique planning opportunities. It also creates a unique tax environment, which imposes on you an obligation to determine whether the new law has any impact on your estate plan.]]></description>
			<pubDate>Fri, 07 Jan 2011 10:30:15 CST</pubDate>
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			<title><![CDATA[New tax legislation creates, renews many breaks ]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4097</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4097</link>
			<description><![CDATA[The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 is packed with new provisions. Following is a rundown of what can you expect from this legislation.]]></description>
			<pubDate>Mon, 27 Dec 2010 14:06:09 CST</pubDate>
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			<title><![CDATA[Year-end tax planning tips]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4095</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4095</link>
			<description><![CDATA[As 2010 winds down, there is still plenty of time to put last-minute tax-planning techniques into play, according to Grant Thornton LLP."People need to be paying special attention to their year-end tax planning in 2010," said Justin Ransome, a partner in Grant Thornton's Washington National Tax Office. "Dramatic changes in the tax code are scheduled to take effect on New Year's Day, so you can't wait until April 15 to act."]]></description>
			<pubDate>Mon, 27 Dec 2010 13:47:58 CST</pubDate>
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			<title><![CDATA[Withholding tax tables available from IRS]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4094</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=4094</link>
			<description><![CDATA[The Internal Revenue Service has released the 2011 Percentage Method Tables for Income Tax that were developed as a result of the recently passed Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010.The new tables, available in Notice 1036,should be implementedby employers as soon as possible, but no later than January 31, 2011.]]></description>
			<pubDate>Mon, 27 Dec 2010 13:44:09 CST</pubDate>
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			<title><![CDATA[DISSOLUTION OF PARTNERSHIPS IN A 1031 EXCHANGE: THE DROP AND SWAP]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=1955</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=1955</link>
			<description><![CDATA[  Coordinating a 1031 exchange for limited liability companies or partnerships can present a unique set of challenges.&nbsp; If the entity itself will remain intact, the partnership or the LLC can sell its property and purchase replacement property through the 1031 exchange process.&nbsp; However, a common issue that arises is that not all of the members or partners can agree on a property to purchase, or even if they want to do an exchange at all.&nbsp; ]]></description>
			<pubDate>Wed, 21 Jul 2010 15:59:55 CDT</pubDate>
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			<title><![CDATA[POSSIBLE INCREASE IN THE CARRIED INTEREST TAX]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=1949</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=1949</link>
			<description><![CDATA[  The U.S. House of Representatives recently voted to pass H.R. 4213, which, effective January 1, 2011, will increase the tax on carried interest. ]]></description>
			<pubDate>Wed, 21 Jul 2010 15:51:18 CDT</pubDate>
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			<title><![CDATA[THE EVER-CHANGING CAPITAL GAINS TAX]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=1943</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=1943</link>
			<description><![CDATA[  Taxes, like life, can be like riding a roller coaster. Sometimes it&rsquo;s up and sometimes it&rsquo;s down. This is definitely the case when speaking about the Federal capital gains rate for individuals. In the past 20 years, this tax has been as high as 28% and is currently at its low point of 15%. But, this too shall change as of January 1, 2011, when the rate is scheduled to go back to 20%. ]]></description>
			<pubDate>Wed, 21 Jul 2010 15:26:11 CDT</pubDate>
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			<title><![CDATA[TAX DEFERRED OPTIONS FOR LEASE PURCHASES]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=1916</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=1916</link>
			<description><![CDATA[  Leasing property to a potential buyer serves a variety of purposes.&nbsp; The structure is most frequently used when a potential buyer, for whatever reason, does not have the funds available to purchase the property immediately.&nbsp; The advantage to the buyer is having additional time to obtain the purchase funds (or financing) while still having use of the property.&nbsp; For the owner, rental income is generated while a buyer and purchase price are locked in, provided the buyer can secure the needed funds or financing within a given period of time.]]></description>
			<pubDate>Wed, 23 Jun 2010 08:36:49 CDT</pubDate>
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			<title><![CDATA[IRS Issues FBAR Filing Relief, But Certain Filing Obligations Remain ]]></title>
			<guid>http://www.taxprofessionalsresource.com/articles/view.php?article_id=1914</guid>
			<link>http://www.taxprofessionalsresource.com/articles/view.php?article_id=1914</link>
			<description><![CDATA[  The IRS has recently issued several pieces of guidance related to the filing of the Report of Foreign Bank and Financial Accounts, IRS Form TD F 90-22.1 (&ldquo;FBAR&rdquo;), by pension plan sponsors. While the IRS has relieved some of the filing obligations, most notably the requirement for plans to file for foreign hedge fund investments for 2009 and prior years, certain filing obligations remain. ]]></description>
			<pubDate>Tue, 22 Jun 2010 09:50:37 CDT</pubDate>
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			<title><![CDATA[IRS 20 Factor Test - Independent Contractor or Employee?]]></title>
			<guid>http://www.taxprofessionalsresource.com/whitepapers/view.php?whitepaper_id=141</guid>
			<link>http://www.taxprofessionalsresource.com/whitepapers/view.php?whitepaper_id=141</link>
			<description><![CDATA[The IRS test often is termed the &ldquo;right-to-control test&rdquo; because each factor is designed to evaluate who controls how work is performed. Under IRS rules and common-law doctrine, independent contractors control the manner and means by which contracted services, products, or results are achieved. The more control a company exercises over how, when, where, and by whom work is performed, the more likely the workers are employees, not independent contractors.]]></description>
			<pubDate>Fri, 10 Jun 2011 12:56:46 CDT</pubDate>
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			<title><![CDATA[Tax Shelter Penalty Cases Hurt Thousands of Small Business Owners]]></title>
			<guid>http://www.taxprofessionalsresource.com/whitepapers/view.php?whitepaper_id=134</guid>
			<link>http://www.taxprofessionalsresource.com/whitepapers/view.php?whitepaper_id=134</link>
			<description><![CDATA[Insurance agents and others sell 412i, 419, captive insurance and section 79 scams to unsuspecting business owners. The IRS considers many of these plans abusive tax shelters, listed transactions, reportable transactions, or what it calls "similar to," which allows them to target the plan. The unsuspecting business owners then get audited by the IRS, lose their deductions, and pay interest and penalties. Then comes the bad news. The IRS comes back and fines the business owners a large amount of money for not properly filing under IRC 6707A. They have even fined hundreds of business owners who have filed. The IRS says that they prepared the forms incorrectly or filed improperly, or lied to the IRS.]]></description>
			<pubDate>Thu, 12 May 2011 12:56:16 CDT</pubDate>
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			<title><![CDATA[Eligibility Requirements of S Corporations]]></title>
			<guid>http://www.taxprofessionalsresource.com/whitepapers/view.php?whitepaper_id=121</guid>
			<link>http://www.taxprofessionalsresource.com/whitepapers/view.php?whitepaper_id=121</link>
			<description><![CDATA[To elect and continue S corporation status the corporation and its shareholders must meet a number of basic requirements. Under IRC Section 1361, only a "small business corporation" can operate as an S corporation.]]></description>
			<pubDate>Fri, 29 Apr 2011 16:23:20 CDT</pubDate>
		</item>
		<item>
			<title><![CDATA[QuickBooks2011 What's New and Improved]]></title>
			<guid>http://www.taxprofessionalsresource.com/whitepapers/view.php?whitepaper_id=109</guid>
			<link>http://www.taxprofessionalsresource.com/whitepapers/view.php?whitepaper_id=109</link>
			<description><![CDATA[A brief review of the new and improved features and tools available forQuickBooks Pro 2011, QuickBooks Premier 2011, QuickBooks Enterprise Solutions 11.0]]></description>
			<pubDate>Mon, 28 Feb 2011 14:29:13 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010]]></title>
			<guid>http://www.taxprofessionalsresource.com/whitepapers/view.php?whitepaper_id=98</guid>
			<link>http://www.taxprofessionalsresource.com/whitepapers/view.php?whitepaper_id=98</link>
			<description><![CDATA[The EGTRRA phased-out the estate and generation-skipping transfer taxes so that they were fully repealed in 2010, and lowered the gift tax rate to 35 percent and increased the gift tax exemption to $1 million for 2010. In 2011 the estate, gift and GST tax exclusion was scheduled to decline to $1 million and the estate, gift and GST tax rate to rise to 55%. The Senate passed late December 9th the "Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010" ("Bill") that provides temporary estate, gift and generation skipping transfer tax relief. The Bill&#8223;s objective is, among significant other matters, to address the expiration of significant tax reductions from prior legislation that absent the Bill would result in significant income tax increases, especially with respect to the estate, gift and GST taxes. The prior legislation in issues is for transfer tax purposes the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), including certain modifications contained in the American Recovery and Reinvestment Act. The Bill also addresses expiring tax cuts in the Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA).]]></description>
			<pubDate>Thu, 03 Feb 2011 11:09:58 CST</pubDate>
		</item>
		<item>
			<title><![CDATA[IRS Form 1099 Reporting]]></title>
			<guid>http://www.taxprofessionalsresource.com/whitepapers/view.php?whitepaper_id=89</guid>
			<link>http://www.taxprofessionalsresource.com/whitepapers/view.php?whitepaper_id=89</link>
			<description><![CDATA[
Form 1099 is a series of forms used in the United States income tax system by the&nbsp;Internal Revenue Service (IRS) to prepare and file an information return under Internal&nbsp;Revenue Code Section (IRC) 6041
]]></description>
			<pubDate>Fri, 28 Jan 2011 14:21:40 CST</pubDate>
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