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Tax Articles

The IRS Makes it (Almost) Official: There is No Such Thing as a Free Lunch

Will the taxman to take a bite out of your employee perks? For a certain sort of young employee—the kind who's come up through fast-paced, hard-driving technology companies—the notion of brown-bagging it to the office or heading out to a...
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employee vs. independent contractor irs checklist

Have You Misclassified Your Workers? IRS Will Help, But There’s a Catch

As part of an effort to close the tax gap and generate revenue, audits of employers on employment issues are increasing. Of particular interest is whether workers have been properly classified as employees or independent contractors. “There absolutely...
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5 Form 1099 Myths Debunked

Fact or Fiction: 5 Form 1099 Myths Debunked

You may think Forms 1099 aren’t a big deal. Presumably your company sends them as matter of course to any independent contractor who does more than $600 worth of work for you. But the fact is, if you don’t use them correctly, the consequences can...
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CFO Minute: Top News, Week Ending June 28

Supreme Court Reverses DOMA On Wednesday, the U.S. Supreme Court voted in a 5-4 decision to reverse the Defense of Marriage Act, a 1996 law that prevented certain federal benefits from going to same-sex couples whose unions were recognized in their states....
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CFO Minute: Top News, Week Ending May 17

Report Sheds Light on IRS Targeting Scandal  Last week, reports surfaced suggesting the Internal Revenue Service singled out conservative groups seeking tax-exempt status with extreme scrutiny. This week, the scandal exploded as more details emerged. On...
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8 Payroll Mistakes That Get Companies into Hot Water

8 Payroll Mistakes That Get Companies into Hot Water

Ever since the Internal Revenue Service launched its Employment Tax Research Project in 2010, closing the employment tax gap has been a hot topic. But, it’s not just the IRS that will be banging down your door. Other agencies will be bringing the IRS in...
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Recommended Reading: The Best Stories on Proformative from April

Recommended Reading: The Best Stories on Proformative from April

One Year Later, Is the JOBS Act Smoothing the IPO Path? April marked the one-year anniversary of the Jumpstart Our Business Startups Act, a piece of legislation that was passed unusually quickly by Congress in hopes of helping more young companies get the...
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Preparing for audits can have long-term benefits.

Avoiding the Dreaded IRS Audit

The Internal Revenue Service has standardized auditing practices that ensure each review of an individual or corporation is conducted consistently and thoroughly to avoid any discrepancies. The bookkeeping methods of businesses, however, do not...
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Don't overlook valuable tax write-off opportunities this season.

Optimizing Tax Write-Off Opportunities

With tax season just around the corner, many companies are looking for creative ways to write off more expenses to combat the uncertain economic climate. Some recent changes to the tax code, however, have made filling out the forms for IRS submission...
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Following fiscal cliff, firms still struggling to meet compliance and security guidelines

Many businesses dodged a bullet in the form of the fiscal cliff. Tax cuts and other major financial changes that could have been devastating to employers and the American workforce were largely averted, though some of the pain will still come in regular...
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What happens if we go over the fiscal cliff?

In less than a week, we are set to either fall off the fiscal cliff or sail cautiously away, bruised but safe. Some economists argue that spending cuts and tax hikes will In less than a week, we are set to either fall off the fiscal cliff or sail cautiously...
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Planning for 2013 tax season should start now

With 2012 drawing to a close and worries looming large about the impending fiscal cliff, some entities may have forgotten that they need to start thinking about year end corporate tax planning. With 2012 drawing to a close and worries looming large about the...
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CFO Minute: IRS Fraud, European Taxes on Multinationals and Small Business Growth

IRS Tax Fraud is up but Problem is Hard to Track Between January and September, nearly 642,000 identity thefts involved tax fraud, which represents a 62 percent increase from last year, according to a recent study by U.S Government Accountability Office (GAO...
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Multinationals Avoid Paying Taxes by Keeping Profits Overseas

Firms today seek out a variety of means to delay financial statement recognition of U.S. taxes on repatriations. One accounting principle Firms today seek out a variety of means to delay financial statement recognition of U.S. taxes on repatriations. One...
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The Fiscal Cliff: Does your Company Need a Parachute?

A letter dated October 18 carried an ominous warning for the U.S. president and Congress: fail to reach an agreement about how to side-step the fiscal cliff, and the already-fragile stability of global financial markets and the U.S. economy could crumble....
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