Business Tax
Federal and State Fundraising Rules and Regulations Nonprofits Must Know
Alexander Aronson Finning CPAs, in collaboration with Lawyers Clearinghouse, invites you to attend a complimentary “Community Investment Series” Seminar. Participants will discuss: Charitable Solicitation Statutes; The Uniform Registration Statement (URS); Internet Solicitations (i.e. a “Donate Now” button); and How States are Enforcing State Laws Governing Solicitation of Money. When October 23, 2014 8:30 am – 11:00 am Where Boston […]
June Tax Reminder: Estimated Tax Payments & Foreign Bank Account Reporting
June is traditionally viewed as a mid-point between the original and extended due dates for filing business, fiduciary, and individual tax returns. However, there are two significant dates that warrant attention. Estimated Tax Payments June 15 is the date for making 2nd quarter estimated tax payments for corporations with calendar year ends, fiduciaries,and individuals. Because […]
Taxpayer IRS Scam Alert – Tax Return Report
We have been alerted that a number of taxpayers are receiving emails from scammers representing themselves as IRS agents. The IRS does not initiate contact with taxpayers by email to request personal or financial information – this includes any type of electronic communication, such as text messages or social media. In late March, a number of phishing […]
Requirement to Notify IRS of Changes to Responsible Party
Beginning January 1, 2014, any entity with an EIN (Employer Identification Number) must file Form 8822-B to report the latest change to its responsible party. The “responsible party” is the person who has a level of control over the funds or assets in the entity that, as a practical matter, enables the individual, directly or […]
2013 Year End Tax Planning Guide & Reminder
AAF is pleased to provide you with detailed tax planning guides that we know you will find helpful in navigating the numerous tax updates taking effect in 2014! If you have not done so already, there is still time to consider tax-saving opportunities. These Tax Guides are organized into sections discussing year-end, as well as […]
2013 Year End Tax Planning Guide & Reminder
AAF is pleased to provide you with detailed tax planning guides that we know you will find helpful in navigating the numerous tax updates taking effect in 2014! If you have not done so already, there is still time to consider tax-saving opportunities. These Tax Guides are organized into sections discussing year-end, as well as […]
IRS Modifies Use-It-Or-Lose-It Rule For Employee Medical Flexible Spending Accounts
On Thursday, October 31, 2013, the Internal Revenue Service issued Notice 2013-71, relaxing the longstanding “use-it-or-lose-it” rule for employee medical flexible spending accounts (“FSAs”). In addition, for the first time the Notice allows employees to carry forward up to $500 of unused salary reduction amounts to a subsequent cafeteria plan year. The carryover option is […]
Massachusetts DOR Suspends Computer Service Sales Tax Collection for 30 Days
The Massachusetts Department of Revenue has suspended collection and reporting of the sales tax on computer services for thirty days, pending final enactment and signature of the repeal recently announced by Governor Patrick and the Legislature. Reporting and payment of these particular taxes that cover the period July 31, 2013 to September 30, 2013 should […]
Breaking News: IRS releases ruling in regard to DOMA
The IRS today issued Revenue Ruling 2013-17 in response to the US Supreme Court’s ruling invalidating the Defense Of Marriage Act. The ruling’s key provision is to affirm that a same sex couple will be considered “married” for US tax purposes as long as they were married in a state where same sex marriage is […]