by Leif Jensen | Sep 26, 2011 | General |
As we all are aware of the people in Chicago typically pay the most for gas than everyone else in the country. Now these may not be the most recent numbers (they are probably higher today), but they are from March 2011. Besides the base price of gasoline, this now...
by Leif Jensen | Sep 24, 2011 | General |
The IRS has made a pronouncement to clarify the tax treatment of employer-provided cell phones. Cell phones have been officially removed from the definition of listed property, a category under tax law that normally requires additional recordkeeping by taxpayers. We...
by Leif Jensen | Sep 24, 2011 | General |
One of the things that seems to be a recurring issue is the need for Corporate minutes. Apparently this is something that even the IRS will be looking at/for this in certain types of audits. Basis audits being the main type. How many of you have your corporate...
by Leif Jensen | Sep 24, 2011 | General |
The IRS does not seem to like the USPS, at least all of the time. But it does seem to like DHL and FedEx a little more lately, now it says that the timely use of private services will be evidence of timely delivery of returns. This while Express Mail and Priority...
by Leif Jensen | Sep 23, 2011 | General |
The IRS has made it easier for real estate pros with rental losses to get a tax break (tough luck for the rest of us). They can now make a key tax election on an amended return without asking IRS for a private letter ruling. Individuals who spend more than one-half of...
by Leif Jensen | Sep 17, 2011 | General |
Nothing but the best and brightest! The IRS has finally given details on the registered tax preparer test, and I was correct! It is designed to test minimum standards only. The examination will be open book and three hours long. Test takers will be given copies of...
