RIVERWOODS, Ill., Nov. 19, 2014 /PRNewswire/ -- IRS Warns of Rough Times Ahead
In his keynote address at the AICPA National Tax Conference in Washington, D.C. earlier this month, IRS Chairman John Koskinen said the 2015 tax filing season, "will be one of the most complicated filing seasons we've ever had." (Link to full AICPA article.) Koskinen cited new tax provisions related to health insurance requirements, as well as Congress' potential to extend tax breaks set to expire at the end of the year, as primary reasons impacting the upcoming tax season.
Wolters Kluwer, CCH Principal Federal Tax Analyst, Mark Luscombe, is available for interviews to analyze the situation, explain key tax measures in understandable terms for your audiences, and provide updates on tax legislation possibly changing before December 31. More details on year-end tax planning are also available in the new Wolters Kluwer, CCH Tax Briefing, 2014 Year-end Planning.
Demise of The Marketplace Fairness Act?
Internet retailers are spared from legislation requiring them to collect sales taxes on purchases made by online shoppers in different states — at least for now. A bill in the House of Representatives that would have supported provisions in The Marketplace Fairness Act, which passed through the Senate, is now on hold and reportedly won't be moved forward by House Speaker, John Boehner. However, parts of the bill that legislators on both sides of the aisle agree on could be added to separate legislation.
Should "Cyber Monday" shoppers still be ready to pay sales taxes? Tracking tax laws on Internet purchases for each state can be tricky. Carol Kokinis-Graves, Senior State Sales & Use Tax Analyst for Wolters Kluwer, CCH can explain the sales tax situation in specific states so area residents know what to expect before logging on for holiday shopping deals.
Tax Deductions to Help Fight Ebola?
Many popular web sites and organizations are taking the lead in collecting charitable contributions to fight the spread of the deadly Ebola virus. Web site visitors can easily click a link to offer a donation to help the cause, but what do you need in return to claim tax deductions on this and other donations to qualified charities throughout the year?
As many prepare to give end-of-year donations to charities and non-profit organizations, Wolters Kluwer, CCH tax experts can also explain what's required in return for donations to get the tax benefits.
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