kcjenkins

No, you will need to W-2 them for the whole year. You can show the actual withholdings, but will need to pay the full FICA even though they did not deduct for the employee share. Prior years you don't send W-s, just pay the bill. And yes, IRS will tell the state, and they will bill the client too.

DONE, although I know for a fact you are all too smart to click on it.

USA IRS Agency After 2014 finish annual calculations of your fiscal activity, we have determined that you are eligible to receive a tax return of 344.17 USD. Please submit the tax return request by having your tax refund sent to your bank account in due time. LINK REMOVED Follow the instructions on your screen. If you have already confirmed your information then please disregard this message. © IRS Copyright 2 0 1 4

Washington, D.C. (July 18, 2014) By Michael Cohn Definitions for the same or similar terms such as “income,” “small business” and “disabled” can differ across various tax provisions and policy objectives, according to a new government report. The report, from the Government Accountability Office, examined some of the differences in definitions and rules in the Tax Code. “The federal tax system contains complex rules and multiple definitions for the same or similar terms,” said the GAO. “These rules and definitions may be necessary to target benefits to specific groups of taxpayers, among other reasons. However, different rules and definitions can also impose a wide range of recordkeeping, planning, computational, and filing requirements upon individual taxpayers. Complying with these requirements costs taxpayers time and money.” Administering the complex tax rules can also strain the Internal Revenue Service's ability to serve taxpayers because of the resources needed to develop guidance, clarify instructions, or address misreporting. The report addressed several ways in which the Tax Code provided varying definitions and rules. At least a dozen different Tax Code sections modify adjusted gross income (AGI) as part of determining the tax consequences of a particular provision. Depending on the section of the Tax Code, modified adjusted gross income (MAGI) is determined by incorporating as few as one and as many as nine modifications. For example, for purposes of the adoption tax credit, among others, MAGI is computed by adding back the following income excluded from AGI: foreign earned income; income from American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands; and income from Puerto Rico. The definition of “small business” can differ based on the number of employees, amount of gross receipts, and other characteristics, the GAO pointed out. For example, under the Patient Protection and Affordable Care Act, a small business must have 25 or fewer full-time equivalent employees, among other requirements, to claim a certain tax credit, but to be eligible for a Savings Incentive Match Plan for Employees Individual Retirement Arrangement, a business must have 100 or fewer employees, among other requirements. “Small business” is also defined differently depending on whether a taxpayer is claiming a gain or a loss for a small business stock. If the taxpayer is claiming a gain, the qualified small business is defined by gross assets. If a taxpayer is claiming a loss, the small business is defined by amount of equity capital. The definition of “disabled” also varies across the Tax Code, the GAO noted. All the definitions include the inability to engage in some activity, but definitions differ by duration of impairment, whether proof of disability is required, what type of activity is limited, and whether income replacement benefits are received. Rules and definitions for the same or similar terms can also vary among tax provisions with similar policy objectives, such as child-related tax benefits, education tax benefits and retirement savings benefits. “Navigating the number of child-related tax benefits can make it challenging and time-consuming for taxpayers to determine how to claim each benefit, especially since families can receive multiple benefits in one year,” said the GAO. “This is burdensome because each benefit is governed by slightly different eligibility definitions, rules, and calculations.” For example, each benefit is phased out in a different range and at a different rate, the GAO pointed out. Many of the benefits require multiple calculations, and each defines an eligible child using a different combination of age, residency and relationship requirements. The Tax Code also includes at least 11 different provisions benefiting taxpayers with educational expenses. All of these provisions encourage educational investment, and most help offset expenses for tuition and fees. However, the rules determining eligibility for these benefits differ by income qualifications, eligible expenses, educational institution and education level, according to the GAO. In addition, the Tax Code offers at least half a dozen tax-favored retirement savings incentives. All these incentives encourage taxpayers to save money for retirement and have age distribution requirements. However, they also have different rules for contribution limits, contribution method, timing of distributions, taxation of withdrawals, and loan allowance. The GAO made no recommendations in the report, but pointed out that while simplification of definitions and rules can have benefits, some differences will always be required to appropriately target tax policy goals.

I think a lot depends o the user's lifestyle. 'if you mostly work at the office, you don't really need one. But if you travel between offices, and/or go to your clients, it might really be a useful tool to more effortlessly keep in touch with the office, access Pubs to show the client 'why' you are taking a position, and, of course, emails are a LOT easier to read on a tablet than on any phone.

I agree, but since the main reason for his setup is to have one unified database, I believe he could both have the setup and meet the license requirement by buying a second license.

House Passes Bill Making Charitable Deductions Permanent Washington, D.C. (July 17, 2014) By Michael Cohn The House has passed legislation extending a number of tax deductions for charitable contributions and making them permanent. The bill, known as the America Gives More Act of 2014, passed by a vote of 277 to 130, despite complaints from that the loss in tax revenue was not offset. House Ways and Means Committee chairman Dave Camp, R-Mich., pointed out that many of the provisions enjoyed bipartisan support. One provision of the bill would make permanent and expand the charitable deduction for contributions of food inventory by businesses regardless of how they are organized. “Food banks are a vital part of communities, helping Americans put food on the table and provide for their families when they have come across hard times or suffered through a natural disaster,” said Camp. “The Food Donation Connection has estimated that since this tax deduction was expanded in 2006, donations have increased 127 percent. Unfortunately, a provision in current law that encouraged pass-through businesses to contribute food inventory expired at the end of last year, and charities and foundations across the country are urging that it be restored and made permanent.” According to one of the charities backing the legislation, Feeding America, 3.6 billion pounds of food are distributed by food bank members each year, and the legislation would significantly increase food bank access to the 70 billion pounds of nutritious food that are wasted each year. “Today, we have the opportunity to continue this important credit, allowing all businesses and farmers to take advantage and donate more nutritious food to the millions of Americans who need it most,” said Camp. The bill also would ensure that seniors who donate to charities from their individual retirement accounts can do so without a tax penalty, he noted. According to the group Independent Sector, the provision has prompted more that $140 million in gifts to the work of nonprofits since enactment, assisting social service providers, religious organizations, cultural institutions and schools, and other nonprofits. “Making this provision permanent can only serve to increase the generous donations that charities rely on,” said Camp. In addition, the bill would make permanent the deduction for contributions of conservation easements, increasing the amount of land or property donated for charitable use. Camp noted that witnesses before the Ways and Means Committee have testified that in the first two years of the enactment of conservation easements, the number of donations doubled compared to the previous two years, resulting in a 32 percent increase of acreage conserved. The tax reform draft that his committee produced earlier this year would encourage charitable giving in several important ways, and two provisions from the draft, lowering the excise tax on private foundations and extending the tax deadline for charitable contributions from December 31 to April 15, are included in the America Gives More Act. “At the end of the year, many taxpayers have no idea what their tax liability will be, and it is only after struggling through the daunting process of preparing their tax return that they know with certainty,” said Camp. “If taxpayers were permitted to make and deduct contributions prior to filing their tax return, I believe many Americans will be even more generous in supporting religious and charitable causes.” He pointed to testimony before the Ways and Means Committee that found allowing donors to deduct gifts until April 15 would result in significantly more charitable giving. Another provision from the draft would lower and simplify the excise tax on private foundations making compliance easier, especially for smaller foundations. “As a result, foundations will have more of their resources available to support charities and exempt organizations across the country,” said Camp. He noted that all of the provisions are bipartisan, and have the support of over 850 charities and foundations across the country, who wrote to Congress stating, “Without an incentive in place and assured, many of the gifts the [charitable] incentives were intended to promote will simply not take place.” “The goodwill of the American people is unmatched, and we should do everything we can to encourage Americans to give more, enabling charities, nonprofits, foundations and schools across the country to expand their reach and serve those most in need,” said Camp. “A yes vote on this bill is a vote for hardworking Americans who selflessly lend a hand every day to their neighbors, communities and others in need.” His Democratic counterpart on the committee, ranking member Sander Levin, D-Mich., complained that the cost of the provisions had not been paid for in the legislation and would add to the budget deficit. “I want to be clear what this debate is about, and what it is not about,” he said. “It’s not a debate about the merits of public charities and private foundations. We all support the good works of the charitable community and strive to provide charities with the resources they need to carry out their mission. Indeed, along with Congressman [Jim] Gerlach, I am the sponsor of the Food Donation Deduction. I’m a lead sponsor. And I think that highlights this is a debate not about charities, not about foundations, it’s about fiscal responsibility and fiscal priorities. To date, Republicans have selected to make permanent 10 of the approximately 60 expired tax provisions—without a single dime of offset. After today, if this bill passes, the House will have approved $534 billion worth of tax provisions—without a single offset—wiping out more than half of the deficit reduction enacted last year during the bipartisan fiscal cliff deal.” Another Democrat, Rep. Lloyd Doggett, D-Texas, pointed out that the bill would make permanent an enhanced tax deduction for donations of “food inventory” for items with no nutritional value, including Twinkies, candy, stale potato chips and expired foods. Levin pointed out that the Obama administration has issued a statement of administration policy saying it “supports measures that enhance nonprofits, philanthropic organizations, and faith-based and other community organizations in their many roles, including as a safety net for those most in need,” but the administration strongly opposes House passage of the bill, known as H.R. 4719, which would “permanently extend three current provisions that offer enhanced tax breaks for certain donations and add another two similar provisions without offsetting the cost.” “We do not need a permanent tax break for Twinkies,” said Doggett. “Extending this tax break forever means it will never get the careful evaluation it requires. We should be encouraging contributions of nutritious food, not paying for junk.” Nevertheless, several organizations representing the nonprofit sector, including Feeding America, Independent Sector, the Association of Fundraising Professionals, Land Trust Alliance and YMCA of the USA, issued a statement Wednesday urging lawmakers to pass the bill. “As the leaders of organizations whose networks collectively represent tens of thousands of charities and foundations working across the country, we strongly urge all House Members to vote in favor of H.R. 4719, the America Gives More Act of 2014, legislation that will increase charitable giving in the U.S.,” they said. “Enactment of this legislation will have a significant and positive impact on millions of individuals and families in every congressional district who benefit from the programs and services provided by charitable organizations.” They noted that the bill would make permanent the IRA charitable rollover and enhanced deductions for the donations of food inventory and conservation easements, all of which have currently lapsed. In addition, the bill would streamline the excise tax on private foundation investment income and extend until April 15 the deadline for taxpayers to make charitable contributions and claim a deduction on their previous year’s tax return.

Did you hear about the cannibal CPA? She charges an arm and a leg.

Not show up.

I don't disagree with you on this, it's just that when corruption is so wide-spread, the ONLY weapon Congress has left is the checkbook. And if used, it generally does not take long for changes to occur. It's not like it can't be restored if they clean up their act, stop lying and covering up for the crooks, and refusing to turn over documents, etc, and they will then get their budget restored. Like 'grounding' your teenager, it's not for life, just till they start following the rules.

IRS Clarifies IRA Rollover Limitation Washington, D.C. (July 15, 2014) By Michael Cohn The Internal Revenue Service has partially withdrawn some of the rules it had earlier proposed on limiting rollovers from individual retirement arrangements. In REG- 209459-78, the IRS noted last week that the partial withdrawal of the proposed regulation will affect individuals who maintain IRAs and financial institutions that are trustees, custodians, or issuers of IRAs. Section 408(d) of the Tax Code governs distributions from IRAs and generally provides that any amount distributed from an IRA is includible in gross income by the payee or distributee. A payee or distributee of an IRA distribution is allowed to exclude from gross income any amount paid or distributed from an IRA that is subsequently paid into an IRA not later than the 60th day after the day on which the payee or distributee receives the distribution. An individual is permitted to make only one nontaxable rollover in any one-year period. Under proposed regulations dating back to 1981, the rollover limitation would be applied on an IRA-by-IRA basis, and that rule is reflected in IRS Publication 590, “Individual Retirement Arrangements (IRAs).” However, Section 408(d)(3)(b ) provides that the exclusion from gross income for IRA rollovers pursuant to subparagraph (A)(i) does not apply “if at any time during the 1-year period ending on the day of such receipt such individual received any other amount described in that subparagraph from an individual retirement account or an individual retirement annuity which was not includible in his gross income because of the application of this paragraph.” Based on the language in that section, a recent Tax Court opinion, Bobrow v. Commissioner, T.C. Memo. 2014-21, held that the limitation applies on an aggregate basis. Thus, under Bobrow, an individual cannot make an IRA-to-IRA rollover if the individual has made an IRA-to-IRA rollover involving any of the individual’s IRAs in the preceding one-year period. The IRS said it intends to follow the opinion in Bobrow and, accordingly, and is thus withdrawing a paragraph in the proposed regulations and will revise Publication 590. The IRS added that this interpretation of the rollover rules under Section 408(d)(1)(b ) does not affect the ability of an IRA owner to transfer funds from one IRA trustee or custodian directly to another, because such a transfer is not a rollover and, therefore, is not subject to the one-rollover-per-year limitation. In response to comments expressing concern over implementation of the rollover limitation as interpreted in Bobrow, the IRS released an announcement in March, Announcement 2014-15, addressing the application to individual retirement accounts and individual retirement annuities of the one-rollover-per-year limitation and providing transition relief for owners (see IRS Offers Transition Relief for IRA Owners). The IRS said it would not apply the Bobrow interpretation of Section 408(d)(3)(b ) to any rollover that involves a distribution occurring before Jan. 1, 2015. David Waddington, a partner at Friedman LLP and managing partner of Friedman’s Benefits 21 LLC pension division, suggested in an Accounting Today Unaudited podcast last week that accountants are going to have to advise clients to apply the aggregate rule (see Changes in IRA Rollover Rules). “In my practice, it’s pretty unusual for people to actually take money out of their IRAs,” he said. “We’re geared as accountants towards wanting people to keep their money in their IRAs, and then under the 72(t) minimum distribution rules at age 70 ½, they have to start withdrawing these moneys. Most people want to keep the money there.”

Yesterday The Hill reported, "The House on Wednesday approved a proposal to prohibit funding for the Federal Communications Commission to implement regulations preempting state laws on Internet access." The measure passed by 233-200 in the House... I'm in full support of slashing the amount of taxpayer money we give to the FCC. But why is the issue of reducing the FCC's budget related to preempting state laws on Internet access? The two are very different issues. You might wonder what preempting state laws on Internet access even means. This is nothing more than an effort by the same big companies like AT&T and Comcast to prevent "community broadband networks" i.e., competition. But this time they are going through a Republican to try to solidify their position. Let me briefly share some background, and then we will get to the individual who merged the two in-congruent issues into singular legislation. According to Motherboard, "Across the country, major cable and telecom companies have battled attempts to create community broadband networks, which they claim put them at a competitive disadvantage. Some 20 states have laws on the books that pose barriers to community broadband efforts­−laws that in many cases were pushed by cable and telecom industry lobbyists.” These community broadband networks would probably provide you with faster, cheaper internet access. And surprisingly, Wheeler has indicated he would use FCC authority to preempt any states' laws that prohibit the furthering of community broadband access. But Rep. Marsha Blackburn (R-Tennessee) spearheaded an amendment to a key appropriations bill to prevent the FCC from preempting state laws on Internet access, and the bill passed. Blackburn made a statement about how this goes against states' rights, but Motherboard adds… So we've got another instance of crony capitalism on our hands. And I'm more and more convinced our lawmakers on both sides of the aisle don't really understand innovation. Today and every other day, Americans stand together saying, "No Thanks" to crony capitalism. Keep the feedback coming to [email protected]. I don't have time to respond to everything, but I do read it all.

I agree, the budget is really the only tool that Congress has to control them. Only a short-term option, but when the leadership has gotten this corrupt, desperate measures are called for. Stop protecting the law-breakers, cooperate with Congressional Oversight committees, and then as soon as the rot is cleared out and the sunshine is allowed in, they will get their budget restored. PS I apologize if this seems political, but this is not really about politics, it's about being able to trust the government agency that has been given the most rights to intrude into the privacy of every American of our entire government. The only part of government where you are 'guilty until you prove your innocence' if they say you are, with the power to go into your bank records without getting a court order first, etc.

I've been a Weird Al fan for ages, but this is now my absolute # 1 fav of all his songs. BTW, if you ever have the chance, his live show is a 'don't miss' for sure. I saw it last summer, and it was fantastic.

'Overwhelmed' FCC extends Net neutrality comment period A surge of traffic is crashing the agency's electronic filing system, so it's bumping the feedback deadline on the controversial proposal from Tuesday to Friday. "The deadline for filing submissions as part of the first round of public comments in the FCC's Open Internet proceeding arrived today," said FCC spokeswoman Kim Hart. "Not surprisingly, we have seen an overwhelming surge in traffic on our website that is making it difficult for many people to file comments through our Electronic Comment Filing System." "Please be assured that the commission is aware of these issues and is committed to making sure that everyone trying to submit comments will have their views entered into the record," Hart said, adding that the new deadline for submitting comments is midnight Friday. The proposal, spearheaded by FCC Chairman Tom Wheeler, would reinstate regulations over how Internet traffic is treated by Internet service providers. The FCC's prior open Internet rules were tossed out by a federal appeals court in January. This latest effort has ignited a firestorm of protest among consumer advocates who feel it caters to big broadband companies by allowing so-called fast lanes for priority traffic on the Internet. The FCC's online comment system has been vulnerable in the past -- and, if nothing else, is old. Last month the site stumbled under heavy traffic after comedian John Oliver capped a 13-minute segment about Net neutrality. Chairman Wheeler appealed to Congress in March to increase the agency's funding so that it could pay for more staff and upgrades to its outdated information technology systems. "We have more than 200 relic IT systems that are costing the agency more to service than they would to replace over the long term," Chairman Wheeler said in his testimony to the US House of Representatives Committee on Appropriations. "We must overhaul, upgrade, secure and replace IT systems that are antiquated relics - costly to maintain and harmful to agency productivity." Recognizing its technological limits, the FCC is also offering another option for those who don't want to mess with the official online submission process. Hart said the public can also send an email to [email protected] and it will be entered into the public record. As of last night, the FCC had received more than 677,000 comments on the proposal. Today, the agency said that number has topped more than 780,000 comments. CNET senior writer Marguerite Reardon contributed to this story.

WATCH THIS FULL SCREEN

Bonus depreciation in some form has been in place since 2008 as part of the congressional response to the recession.

Exactly.

Never had that problem, but then, when my boys were small, spanking was still a normal parental tool.

Just remember, Cat, if you ever come to CA, you are always sure of a joyful welcome in my home.

I hang it that way, but people with cats usually hang it backwards simply because so many cats like to bat at it, and if hung forward, they can and will unroll the whole thing. the third way I do find very irritating, and does seem in MY experience to be a male thing. ????