On Tuesday, the IRS issued the annual inflation adjustments for 2017 for more than 50 tax provisions as well as the 2017 tax rate tables for individuals and estates and trusts (Rev. Proc. 2016-55). These provisions are used to file tax year 2017 returns in 2018.
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If no interest or an unrealistic amount of interest is charged in a salve involving certain kinds of deferred payments, then the transaction will be treated as if the realistic rate of interest had been used. The difference between the realistic interest and the interest actually used is referred to as imputed interest.
The Internal Revenue Service has an important reminder for taxpayers who filed for an extension and face an Oct. 17 filing deadline: the adjusted gross income (AGI) amount from your 2014 return may be needed to electronically file a tax return.
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Millennials display more confidence than members of any other generation in investing in U.S. and overseas markets and U.S. public companies, and in the reliability of audited financial information, a new survey shows.
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Please join us in welcoming the newest member of the RotenbergMeril family
Thomas Butler, JD, CPA, joined RotenbergMeril as a Tax Director in the New York City office, on Monday, September 19th. Tom has over 30 years of tax experience gained with public accounting firms and in the private industry sector. He has provided tax expertise related to various industries such as manufacturing and distribution, technology, financial services and real estate, among others. His work encompassed consolidations, mergers and acquisitions, pass-thru entities, transactional tax planning and review of and calculation of corporate tax provisions. Previously, Tom served as the lead Tax Partner in various regional and international accounting firms.
Tom is an Adjunct Assistant Professor of Accounting and Taxation at Frank G. Zarb Graduate School of Business at Hofstra University.
In addition to being a licensed New York CPA, Tom is a licensed New York attorney. Tom received his Accounting degree from New York University, Stern Graduate School of Business. He obtained his JD from Albany Law School of Union University. Tom resides in Garden City, New York.
Les Solomon, CPA/ABV/CFF, ASA to speak at the New Jersey Society of CPAs (NJCPA) Business Valuation & Litigation Services Conference.
Tuesday, September 27, 2016
Pines Manor, Edison NJ
RotenbergMerill Partner, Les Solmon will be speaking as part of the “Ask The Experts” Discussion Panel. This is an interactive session that will touch on issues facing CPAs working in New Jersey today.
Experts in the fields of valuation, litigation support, providing expert witness testimony, and family law matters, will present issues from multiple perspectives. Attendees can submit their own questions for discussion.
For more information and to register for the conference, go to:
Round up all receipts and canceled checks, such as those from charities; check your latest brokerage statements for year-to-date gains or losses; make a checklist of accounts to keep track of the 1099s, if any, when they arrive in a few months; and get medical receipts and insurance reimbursement forms in order. If you start organizing your files now, it will be easier to be prepared for tax season. It is much easier to have the originals or to request replacements when you have time.
The Internal Revenue Service’s Office of Appeals has improved its compliance within its Collection Due Process program, although some taxpayers are still misclassified and receive the wrong type of hearing, according to a new report.
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