Last March’s “Patient Protection and Affordable Care Act” included dozens of tax provisions designed to help pay for substantive healthcare reform. But one requirement raised howls of protest almost immediately. Specifically, the law mandated that all businesses, tax-exempt organizations, and federal, state, and local governments file a Form 1099 at the end of the year for any business they spend …

For those expecting to receive tax refunds this year, IRS provides the attached table showing when you can expect to receive your money. As usual, e-filing combined with directly depositing the refund in your bank account is the fastest option. Current processing times for paper returns can be as long as 8-12 weeks plus mail transit time. 2011 refund cycle chart

Who wants to make an extra $20!? American workers may notice a small increase in take home pay starting in January 2011. Ã‚ The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 was signed into law December 17, 2010. In addition to some extensions of tax breaks from the 2001 legislation by the Bush administration, there is a payroll tax “holiday” included that …

How much is the tax bill that goes before the Senate today worth to you? Current estimates are the Middle Class Tax Cut of of 2010, in its current form, will cost the US Treasury about $858 billion. Based on my quick estimate,  if you are one of the 143 million people expected to file tax returns next year it works out …

On Monday December 6th, 2010 the news was abuzz with talk of the agreement reached between Republican legislators and President Obama regarding tax relief. The Middle Class Tax Cut Act of 2010 was attacked by some Democrats as being too generous a compromise to the perceived Republican interest in preserving tax cuts for the wealthy. Just when we thought there was going to be some …

Small Business Jobs Act summary and notes our firm is using to develop tax saving strategies.