Cancellation of debt a growing issue - need for informed tax preparers and changed tax rules

In preparing for an upcoming presentation that basically looks at beyond the current filing season for CPAs, I delved into some data on grow...

Mileage awards by banks, 1099s, and the realization principle

The excitement about Citibank issuing 1099s to customers who received a prize from the bank that was worth $600 or more has seemed to become...

New Tax Return Details for 2011 Returns - Closing the Tax Gap

Who wouldn't want to see the $345 billion annual federal tax gap reduced? That's a lot of money! One way to make that happen is to ...

1099s - manageable for small businesses?

The New York Times article - "Why the New 1099 Rules Aren ’t That Bad for Small Businesses" by Robb Mandelbaum (3/14/11) suggest...

Paying for Repeal of Revenue Raisers + A Peek Into Complexity of Section 36B

In 2010, Congress twice expanded 1099 reporting requirements. I think the primary reason for doing so is that the revenue estimates for both...

The 1099 Drama Continues

The expanded 1099 filing requirement brought about in the March 2010 health care legislation and calls for its repeal are starting (continui...

1099s - The Good, the Bad and the Ugly

Well, need I say more than that title? Information reporting forms are certainly a useful compliance tool, but perhaps not for everything. ...