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Category Archives: Tax Alerts

White House calls for significant tax cuts and other tax reforms

President Trump on April 26th, just before his “100 days” in office, unveiled his highly-anticipated tax reform outline –the “2017 Tax Reform for Economic Growth and American Jobs.” The outline calls for dramatic tax cuts and simplification: lower individual tax rates under a three-bracket structure, doubling the standard deduction, and...
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Tax scams proliferate during filing season

The filing season is the most active time of the year for tax scams. These scams take every shape and form, ranging from telephone calls to individuals to sophisticated schemes targeting employers and businesses. The goal of all these scams is identity theft. Using legitimate identities of unsuspecting individuals allows...
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NC Contractor, Electrical, Plumbing and Sub-Contractor – Sales tax on contractors – Will you need to collect sales tax on jobs?

Dateline:  1/1/2017.  This is a work in progress, check back for updates as we don’t have all the answers yet.  IF IN DOUBT AS TO WHETHER OR NOT TO COLLECT SALES TAX, WE SUGGEST YOU STRONGLY CONSIDER COLLECTING THE TAX AND/OR CONTACT THE NC DEPARTMENT OF REVENUE FOR GUIDANCE.   Remember...
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Congress passes targeted tax bills, stop-gap spending measure

As lawmakers prepared to recess for November elections, they also passed several tax-related bills in September. The bills addressed IRS operations, deductions, and more. At the same time, House and Senate negotiators reached an agreement to avoid a federal government shutdown, including the IRS, after the end of the current...
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