Senate to Introduce Bill to Extend Payroll Tax Cut
Senate Majority Leader Harry Reid has said that he plans to introduce legislation this week that would extend the payroll tax cut that is due to expire at the end of this year. The tax cut, which was...
View ArticleIRS Stuck With $153.3 Million in Undelivered Tax Refunds
The IRS has announced that it has $153.3 million in undelivered tax refund checks belonging to 99,123 taxpayers. The checks could not be delivered to taxpayers because of mailing address errors....
View ArticleIRS Sets Deductible Mileage Rates for 2012
The IRS has released the optional standard mileage rates that taxpayers can use in 2012 to figure the deductible costs of operating a vehicle for business, charitable, moving or medical purposes. For...
View ArticleJobs Increase by 212,000 in December 2011
Employment in the private sector rose by 212,000 jobs in December 2011, reducing the unemployment rate two-tenths of a percentage point to 8.5%, according to the U.S. Bureau of Labor Statistics. This...
View ArticleNew Rules for a New Year: New Regulations Affecting Businesses in 2012
A number of new regulations affecting business activities including financial instruments, human resources, health care and retirement plans and accounting are set to take effect in 2012. Included...
View ArticleIRS and Treasury Department Publish Temporary Regulations on Treatment of...
The IRS and the Treasury Department have published long-awaited temporary regulations that provide guidance to taxpayers on the treatment of expenditures incurred in selling, acquiring, producing and...
View ArticleNew Compliance Laws for D.C. Nonprofits Effective January 1, 2012
All domestic and foreign nonprofit corporations authorized to do business in the District of Columbia must comply with new laws pursuant to The DC Nonprofit Corporation Act of 2010 ("The Act"). This...
View ArticleGOP Leaders Say Payroll Tax Deal Imminent
Top Republican lawmakers have said that they expect to reach a deal with Democrats to extend the payroll tax cut before it expires at the end of February, but they offered no specifics on how they...
View ArticleFASB and IASB Propose New Standard for Recognizing Revenue
The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have released a revised proposal that would create a single revenue recognition standard for...
View ArticleCongress Reaches Deal to Extend Payroll Tax Cut
House and Senate negotiators finalized a deal to extend the payroll tax cut, emergency unemployment benefits and the Medicare reimbursement rate for doctors. Although a few minor details remain to be...
View ArticlePresident Signs Payroll Tax Cut & Unemployment Benefits Into Law
On February 22nd, President Obama signed into law an extension through the end of 2012 of the payroll tax cut, unemployment benefits, and the so-called "doc fix" to prevent Medicare physician...
View Article10 Tips to Avoid a Wage & Hour Investigation
Believe it or not, the federal Department of Labor (DOL) does not require that an investigator announce the scheduling of a wage & hour investigation. An investigator has sufficient latitude to...
View ArticleSeven Tax-Free Benefits for Employees
Here are seven tax-free benefits that keep cash in employees' pockets and may provide attractive deductibles for employers. Frequent flyer miles. Employees who fly on business can earn miles tax-free...
View ArticleThese Risks Can Pummel Your Company's Earnings
A first-of-a-kind risk management study suggests that companies still have lessons to learn about minimizing damage from unforeseen events. Risks inherent to a company's business model were...
View ArticleSmall Business Tax Breaks Proposed in DC
There is legislation pending in Congress that, if enacted, would be a boon to small business and help jumpstart the economy. Proposed changes include extending Section 179 bonus depreciation to 100...
View ArticleMCB Principals Robert G Baldassari, Jude J Covas and Kathy M Flaherty Named...
Matthews, Carter & Boyce (MCB), a boutique full-service accounting firm serving the Washington D.C. area since 1947, announces that three of its Principals have been named as SuperCPAs by Virginia...
View ArticleEmployer 401(k) Plan Contributions Increase, but Retirement Savings Still Lag
Workers are getting a little more help from their employers when it comes to retirement savings, but many are still falling short in building their retirement nest eggs.Many companies suspended or...
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