Lobbying activities may expose churches in some states to election law register and reporting requirements as a political committee. Many of these statutes are unconstitutional because they expose churches to intrusive regulations for a very small amount of lobbying. The most important message I think...
All people making money preparing taxes must be registered with the IRS. If your paid tax return preparer is not registered with the IRS he/she is perpetrating fraud which will cause you future headaches. Don't mess around with this. The IRS has released a new Form...
According to IRS Publication 970, Tax Benefits for Education, questions exist to help determine if education expenses are tax deductible. These questions include: Is the expense associated with the education 'work related'? It must be to be deductible. Is the education in question required by...
The Colorado Department of Revenue understands some taxpayers who have been directly affected by the recent fires in our state will need to request photocopies of tax returns that have been lost or destroyed or will not be able to meet Colorado filing and payment...
The IRS sometimes grants tax-exempt status to questionable-sounding groups, but paranormal research? What is this world coming to? All I have to say is your bogeyman still needs a valid social security number to be considered a deductible dependent. On Saturday, a group...
Question: Sam, age 15, came into your office to have his taxes prepared. He has wages of $6,500, interest income of $1,500, and dividend income of $5,500. He is claimed as a dependent by his parents, however his parents have not filed their return yet...
Meir Katz (J.D. 2010, Georgetown) has posted The Economics of § 170: A Case for the Charitable Deduction of Parochial School Tuition on SSRN. It is fascinating. Here is the abstract: That payments for parochial school tuition are not deductible under § 170 is a foregone conclusion...
'Audit reconsideration' requests the IRS to reconsider action it has taken with the taxpayer by allowing the taxpayer to present information that may not have been available to the IRS previously. This procedure is used when an assessment has been made due to an audit...
The Internal Revenue Service released a draft version of the form that small businesses and tax-exempt organizations will use to calculate the small business health care tax credit when they file income tax returns next year. The IRS also announced how eligible tax-exempt organizations...
Taxpayers who need to get copies of Colorado tax forms (including electronically filed returns) and canceled checks submitted to the Department of Revenue must use the “Request for Copies” form DR 5714 available on the Colorado Taxation Web site through this link: http://www.colorado.gov/cs/Satellite?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1239161361364&ssbinary=true NOTE: In an effort...