Child Care Tax Specialists takes a look at the issues surrounding refusing a child into a Child Care program. It is complicated, and there are a lot of exemptions. Child Care Professionals have to know how to handle this kind of situation.
Read the full post at http://childcaretaxspecialists.com/may-i-refuse-to-care-for-a-child-who-is-not-immunized/
IRS Tax Tip 2013-24, 2013
If you’re selling your main home sometime this year, the IRS has some helpful tips for you. Even if you make a profit from the sale of your home, you may not have to report it as income.
Here are 10 tips from the IRS to keep in mind when selling your home. Continue reading
This credit helps small businesses and small tax-exempt organizations afford the cost of covering their employees and is specifically targeted for those with low- and moderate-income workers. The credit is designed to encourage small employers to offer health insurance coverage for the first time or maintain coverage they already have. In general, the credit is available to small employers that pay at least half the cost of single coverage for their employees. Continue reading
IRS Summertime Tax Tip 2013-15, August 5, 2013
If you itemize deductions on your tax return, you may be able to deduct certain miscellaneous expenses. You may benefit from this because a tax deduction normally reduces your federal income tax. Here are some things you should know about miscellaneous deductions:
Deductions Subject to the Two Percent Limit. You can deduct most miscellaneous expenses only if they exceed two percent of your adjusted gross income. These include expenses such as: Continue reading
On Aug. 13, 2013, the Department of the Treasury and the IRS issued final regulations with rules for disclosure of return information to the Department of Health and Human Services that will be used to carry out eligibility determinations for advance payments of the premium tax credit, Medicaid and other health insurance affordability programs. For additional information on the final regulations, see our questions and answers.
Here is a link to the complete IRS FAQ. that make it clear that same-sex married couples must file extended 2012 returns by September 15, 2013, to file as single.
For tax year 2013 and going forward, same-sex spouses generally must file using a married filing separately or jointly filing status.
For tax year 2012 and all prior years, same-sex spouses who file an original tax return on or after Sept. 16, 2013 (the effective date of Rev. Rul. 2013-17), generally must file using a married filing separately or jointly filing status.
For tax year 2012, same-sex spouses who filed their tax return before Sept. 16, 2013, may choose (but are not required) to amend their federal tax returns to file using married filing separately or jointly filing status.
For tax years 2011 and earlier, same-sex spouses who filed their tax returns timely may choose (but are not required) to amend their federal tax returns to file using married filing separately or jointly filing status provided the period of limitations for amending the return has not expired.
A taxpayer generally may file a claim for refund for three years from the date the return was filed or two years from the date date the tax was paid, whichever is later.
For information on filing an amended return, go to Tax Topic 308, Amended Returns, at http://www.irs.gov/taxtopics/tc308.html.the tax was paid, whichever is later.
For information on filing an amended return, go to Tax Topic 308, Amended Returns, at http://www.irs.gov/taxtopics/tc308.html.
Some of the provisions of the Affordable Care Act, or health care law, apply only to large employers, generally those with 50 or more full-time equivalent employees.
NOT-129718-13
Notice 2013-45
This notice provides transition relief for 2014 from (1) the information reporting requirements applicable to insurers, self-insuring employers, and certain other providers of minimum essential coverage under § 6055 of the Internal Revenue Code (Code) (§ 6055 Information Reporting), (2) the information reporting requirements applicable to applicable large employers under § 6056 (§ 6056 Information Reporting), and (3) the employer shared responsibility provisions under § 4980H (Employer Shared Responsibility Provisions). Continue reading
The Treasury Department’s Office of Tax Policy and the Service use the Guidance Priority List each year to identify and prioritize the tax issues that should be addressed through regulations, revenue rulings, revenue procedures, notices, and other published administrative guidance. Continue reading
Employers need to understand the latest IRS pertaining to the ACA, what their obligations are and have systems in place for tracking and calculating reportable costs. For many, the reporting requirement became effective for the 2012 tax year— but for qualifying small employers (filing less than 250 W-2’s) many of these obligations will take effect for the 2013 tax year. Continue reading
Back in July we wrote about businesses that have treated workers as 1099 contractors (“Are you making a mistake with your 1099 Contractors?”), and pointed out that if the IRS determines that your workers are not 1099 contractors, but actually “employees”, you may be faced with unexpected payroll taxes and penalties. The IRS has created the VCSP program for businesses that want to voluntarily reclassify their workers as employees. Continue reading
Our table is based on IRS Notice 2012-9, which, until further guidance, contains the requirements for tax-year 2012 and beyond. Items listed as “optional” are designated as such based on transition relief provided by Notice 2012-9, and their “optional” status may be changed by future guidance. However, any such change will not be applicable until the tax year beginning at least six months after the date of issuance of such guidance. Continue reading
The Affordable Care Act requires employers to report the cost of coverage under an employer-sponsored group health plan. To allow employers more time to update their payroll systems, Continue reading
While it may be tempting to navigate the new tax laws and changes on your own, it is always better to consult a tax professional – specifically – Enrolled Agents (EA) who are recognized as the tax experts. Your EA will know what to do, why you received the notice or letter, and the immediate steps to take. However, if you want to do this on your own – here are some facts you need to know. Continue reading
Marriage can have a tax-rate advantage, but it depends on the incomes. Did you know you can actually save tax money if one spouse is making a lot less than the other? It’s true. The tax bill of the high-income earner can almost (if not totally) be cancelled out. Continue reading
Redleaf Press has a new “how to” guide by Donna C. Hurley and Sharon Woodward.
“Case studies featuring more than twenty common challenges that can occur during visits and skill-based solutions and successful strategies you can use to prepare for those situations
Checklists and self-examination activities to help you welcome and connect with potential families, specialists, and inspectors in positive ways
Support, guidance, and techniques to enhance your program”
Softbound, 144 pgs.
Read the full post at http://childcaretaxspecialists.com/guide-to-visits-inspections-and-interviews/
