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Category Archives: Uncategorized
How Do I… Qualify for the Residential Energy Property Tax Credit in 2011?
In recent years, Congress has used the Tax Code to encourage individuals to make energy-efficient improvements to their homes. The credit is very popular. The Treasury Department estimates that more than 6.8 million individuals claimed over $5.8 billion in residential … Continue reading
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IRS Abandons Two-Year Limitations Period for Equitable Innocent Spouse Relief
The IRS has abandoned its controversial regulations that imposed a two-year statute of limitations period for taxpayers to request equitable innocent spouse relief under Code Sec. 6015(f). Instead, taxpayers can request relief within the applicable statute of limitations period: For … Continue reading
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Congress Approves Debt Ceiling Bill
The Budget Control Act of 2011, Special Report. On August 2nd, President Obama quickly signed the Budget Control Act after passed by the Senate 74 to 26. The House had passed the Budget Control Act on August 1st by a … Continue reading
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Congress Votes to Repeal 1099 Requirements
The Senate voted Tuesday to repeal the expanded 1099 information reporting requirements in last year’s health care reform and small business laws, sending the repeal to President Obama’s desk. Read the full article from Accounting Today.
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National Taxpayer Advocate Says Tax Reform Cannot be Delayed
National Taxpayer Advocate Nina Olson has told Congress that the time for comprehensive tax reform is now. Olson delivered her annual report to Congress and also testified before the House Ways and Means Committee in January. Olson used both occasions to urge Congress to simplify the Tax Code. Continue reading
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Announcement: Ties to Top Firm in China
Thanks to the addition of a major Chinese firm to our international network, we have recently augmented our service capabilities and broadened our domestic and global reach. As an independent member of PKF North America, The Whitlock Company has strong relationships with leading accounting firms around the country. The addition of Daxin adds depth and expertise to the worldwide network. Continue reading
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Year-End Tax Planning: Actions to Take to Save Taxes
The midterm elections have changed the Congressional landscape, with Republicans winning control of the House of Representatives and picking up seats in the Senate. Even so, it’s still too early to know exactly how this will affect open tax issues for 2010 and 2011. In short, year-end planning—which always involves some educated guesswork—is a bigger challenge this year than in past years. Continue reading
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The Whitlock Company Moves Tri-State Office to Joplin
We recently moved our Tri-state office from Webb City to Joplin on October 18, 2010. We will host an open house and ribbon cutting ceremony at the new office (3929 East 7th Street, Joplin, MO, 64801) on Friday, November 5, 2010 from 3-6 p.m.
“We are very excited about the move,” said Managing Partner David Myers. He added, “Our client base in the tri-state area is constantly growing and changing. Our new Joplin office is more accessible to a greater number of our clients and allows us more visibility in the area.” The tri-state office serves clients in southwest Missouri, Kansas and Oklahoma. Continue reading
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Not-for-Profit Entity Corporate Governance
It can be an honor to be asked to serve on the board of a not-for-profit entity but doing so comes with a great deal of responsibility. A not-for-profit entity’s board of directors is responsible for establishing the organization’s policies, procedures and overall organization direction. It is also the board of directors that must ultimately answer to the public and the organizations donors. Continue reading
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Congress Completes Overhaul Of Health Care Law and Makes Many Tax Changes
More information to follow up on our first article regrading Health Care Reform.
Passage of the Health Care and Education Reconciliation Act of 2010 (H.R. 4872) Reconciliation Act) by Congress, followed by its signing by President Obama on March 30, 2010, completes a massive overhaul of the nation’s health insurance and health delivery systems. Continue reading
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