Recently from the Blog
IRS launches IRS2Go 2.0 smartphone app
Last year, I wrote about the debut of IRS2Go, the first smartphone app from the IRS. Yesterday, the IRS announced the release of version 2.0 of the app. The new version includes tools to watch IRS YouTube videos, order tax return transcripts, and get the latest news from the IRS. If you have a portable [...]
Employee vs. Independent Contractor
On September 21, 2011, the IRS unveiled a program that allows taxpayers to voluntarily reclassify independent contractors as employees at a significantly reduced employment tax burden, with no penalties or interest. The voluntary classification settlement program (VCSP) is designed to help taxpayers address their tax responsibilities. The VCSP was designed to encourage voluntary compliance with [...]
New 1099 questions on business tax returns
After the IRS finalized its tax forms for the year 2011, we became aware of two new questions on business tax returns (including Forms 1120, 1120S, 1065, and 1040 Schedule C): Did you make any payments in 2011 that would require you to file Form(s) 1099? If “Yes,” did you or will you file all [...]
Las Vegas CPAs helping new real estate investors
The real estate market crash has been brutal to Las Vegas homeowners who have become underwater with their mortgages or have lost their homes through foreclosures and short sales. For others who are more fortunate, the low housing prices in Las Vegas have provided them with the opportunity to purchase their first primary residence or [...]
