The PTC, Itemized Deductions, Employer Leave-Based Donation Programs, Tracking Refunds, and Bribes
Tax News Briefs

The PTC, Itemized Deductions, Employer Leave-Based Donation Programs, Tracking Refunds, and Bribes

Premium Tax Credit Regulations Amended Wages are deductible by a C corporation in computing taxable income, but dividends are not. In a closely held corporation, the owners might decide to take ... TheTaxBook

Tax Evasion and Fraud: The Enrolled Agent’s Role
Feature Article

Tax Evasion and Fraud: The Enrolled Agent’s Role

Taxpayer A, who is being audited by the Internal Revenue Service (IRS), comes to you seeking assistance. The problem, she says, is that she reported $20,000 in bogus expenses in each of two years during which she had tried to launc... Rod Monger, EA

Assessable Penalties and Abating Them
Feature Article

Assessable Penalties and Abating Them

The United States federal tax system operates on a system of somewhat voluntary compliance. However, human nature being what it is, a voluntary system without a means of enforcement lends itself to fraud, ignorance, and disregard. I... David Woods, EA