One of the pitfalls of receiving a distribution from your IRA with the intention of "rolling it over," or depositing it into another IRA or retirement plan, is the 60-day rule. Under the rule, you're required to complete the rollover within 60 days of receiving the distribution. If you miss the deadline, you have to [...]
IR-2016-115, Aug. 30, 2016 The Internal Revenue Service today announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to Louisiana flood victims and members of their families. Participants in 401(k) plans, employees of public schools and tax-exempt organizations with 403(b) tax-sheltered annuities, as well as state and local government employees [...]
WASHINGTON — The Internal Revenue Service today reminded truckers and other owners of heavy highway vehicles that in most cases their next federal highway use tax return is due Wednesday, Aug. 31, 2016. The deadline generally applies to Form 2290 and the accompanying tax payment for the tax year that begins July 1, 2016, and [...]
An important step in estate planning is creating an inventory of your assets. Your executor – the person you designate in your will to carry out your last wishes – uses the inventory to make sure all of your property passes to your heirs. That includes your digital assets. Documenting these along with more traditional [...]
Transcripts of your federal income tax return, tax account, wages and income, and record of account, as well as a verification of non-filing, are once again available for no charge online at the IRS website. The IRS had previously shut down the service while working to make it more secure. Once again you can sign [...]
If you hold foreign bank or financial accounts, or have signature authority over such accounts, and the total value of all your accounts exceeds $10,000 at any time during the calendar year, you may be required to file a Treasury Department report known as the FBAR. It's easy to overlook this requirement because it's separate [...]
Did you buy equipment or other business assets during 2015? Here are the current rules for maximizing your tax deduction. Section 179. Under code Section 179, you can expense many types of otherwise depreciable property used in your business. Both new and used assets qualify for Section 179.Planning tip: The Section 179 amounts are now [...]
A law effective as of July 31, 2015, included provisions that require certain executors to file a statement with estate beneficiaries and the IRS, notifying both of the value of property as reported on the estate return. Unless an exception applies, the beneficiaries can claim no more than that value when the property is [...]
Even if you're covered by a credit monitoring service, you may want to keep an eye on your credit report – and you can still do that for free at www.annualcreditreport.com. That's the only official website, so don't be fooled by other "free" claims. At the site, you can get one free report annually from [...]
Intern Entry Level Staff Accountant working towards a degree in Accounting or related field. The ideal candidate will be ambitious, detailed and have excellent communication skills. The Accounting Intern will learn the practical application of: Prepares complete workpapers, journal entry preparation, bank account reconciliation, account analysis Assisting Accountants with financial analysis of actual projected expenses [...]