Phaseout of Deduction of Interest on Education Loans: 2013
In its Revenue Procedure 2013-15, the IRS stated that, for the 2013 taxable year, the $2,500 maximum deduction for interest paid on qualified education [...]
IRS Provides Penalty Relief to Farmers and Fishermen
On January 18, 2013, the IRS announced that it will issue guidance in the near future to provide relief from the estimated tax penalty [...]
Will You be Subject to the AMT in the Tax Year 2012?
The Alternative Minimum Tax (AMT) is an additional tax that certain individuals must pay on top of their regular tax liability. When the original [...]
Enterprise Value Tax Proposal
As the United States government has increasingly searched for needed revenues, and some members of Congress have called for higher taxes on hedge fund [...]
IRS Tax Gaps Estimates Show Taxpayers owe $385 Billion in 2006 Taxes
The Internal Revenue Service recently released new “tax gap” estimates for tax year 2006, showing that taxpayers owe $385 Billion (an increase of about [...]