Feds set new 2013 business mileage rate
The amount your company can reimburse employees for business miles driven is going to change come January. The IRS has set a new rate of 56.5 cents per mile driven in a car, van, pickup or panel truck...
View ArticleIRS weighs in on healthcare mandate rules
Still have questions about Obamacare and what it all means? Here’s some help. Most of the Obamacare regulations aren’t finalized yet. But the IRS announced that large employers can rely on its proposed...
View ArticleIRS will begin accepting some business tax returns today
Got your tax information in early this year? Check this list to see if you can file as early as today. In an email to tax pros, the IRS detailed which business and non-profit tax returns it will begin...
View ArticleIs Finance ready for Obamacare? Find out here
2014 will be here before we know it, which means there’s no time for companies to lose to get on board with the Affordable Care Act. And Finance will play a major role in keeping up your company’s...
View ArticleThe ‘Dirty Dozen’ tax scams to avoid
It’s the height of tax-filing season which means employees should beware. The IRS recently released their list of the top tax scams – which they call the “Dirty Dozen.” These are scams that pop up at...
View Article10 last-minute tips for filing your taxes
The tax clock is ticking. Are you prepared? Even if your tax return has been submitted, there’s a good chance others in the office are still pushing it to the last minute – especially if they owe...
View ArticleGrammy award winner sentenced to prison for tax evasion
This musician and actress will be singing the blues now that she’s a member of the celebrity tax-evasion club. Grammy-winning singer, songwriter and actress, Lauryn Hill, was sentenced to three months...
View ArticleNew IRS ruling throws a curveball to Payroll and A/P
There are some things you just know: The sun will rise, Friday follows Thursday and if a worker is an employee, he or she can’t be an independent contractor (IC). Well, you might want to double-check...
View ArticleCostly FLSA landmine lurks in new Obamacare rules
As we move toward 2014, many CFOs see relying more heavily on independent contractors as an attractive Obamacare strategy. But there’s a costly danger in this move that many firms may not be aware of....
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4 steps IRS wants you to take for hurricane season
Hurricane season has officially begun in the Atlantic. And look who’s weighing in on how your business needs to prepare itself: the Taxman. IRS just issued guidance for both businesses and individuals...
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IRS sets its sights on Finance in new e-filing push
Unless you’re already filing all your company’s tax and information returns electronically, get ready to feel a little nudge from IRS. The Taxman just released its progress report on its lofty goal of...
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A/P’s critical role in healthcare reform compliance
When you think of the upcoming healthcare reform law and all the finance functions that will be impacted, you likely think of groups like Benefits and Payroll. But there’s another finance department...
View ArticleIRS says it’ll recognize all same-sex marriages now
It’s been several months since the Supreme Court handed down its landmark ruling on the Defense of Marriage Act (DOMA), but the IRS just got around to issuing guidance on how it’ll handle the tax...
View ArticleNew IRS guidance on Obamacare dollar limit, preventive service rules
Still have questions about how the Obamacare’s annual dollar limit prohibition and preventative service requirements will affect your company? You’re not alone. Luckily, the IRS has come out with some...
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IRS hands Finance hefty to-do list with new repair regs
Get ready to give those invoices some extra scrutiny! IRS just released its much-awaited final regs on tangible property repairs and they contain some major changes to the way you account for these...
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3 can’t-miss online stops Finance must make before year-end
Here we go again! Hard to believe that it’s already time to start prepping for year-end. The good news is, you and your team have so many resources at your disposal now that you can practically ensure...
View ArticleFinally! Feds kill ‘use-it-or-lose-it’ rule: What’s OK now?
Good news: The IRS just took a drastic step regarding flexible spending accounts many had been predicting for years. The IRS just announced that FSA account-holders can carry over up to $500 into the...
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IRS, SSA release critical year-end updates for Finance
New year, new numbers, same old process! ‘Tis the season for the feds to start issuing all the key updates Finance departments everywhere will need on Jan. 1. In recent weeks, both IRS and the Social...
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IRS lowers mileage rate – brace for the backlash!
IRS handed you one last unwanted gift in 2013: the news to pass along to employees that they’ll get less money every time they travel on business. The 2014 standard mileage rate was just released. And...
View ArticleWhy most firms won’t allow FSA rollovers this year
If you didn’t have enough time to do what was necessary to allow workers to roll over their FSA funds right away, you’re not alone. As employers are well aware, the IRS recently announced that FSA...
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