Tax Credits for Obamacare Miscalculated By IRS

The Internal Revenue Service’s computer systems miscalculated the allowable Premium Tax Credits for more than 27,000 taxpayers who received subsidies for health insurance under the Affordable Care Act, according to

PATH Act Overview Final: Charitable Contributions

AND FINALLY, WHAT CHARITABLE CONTRIBUTIONS CHANGES? Charitable contributions of food inventory.  The enhanced deduction for charitable contributions of food inventory from corporate and non-corporate taxpayers has been made permanent and

PATH Act Overview Part 6: Changes For Individuals

ANY MODIFICATIONS AFFECTING INDIVIDUALS? Classroom expenses deduction.  The $250 above-the-line deduction for teacher classroom expenses has been made permanent. Also, effective starting in 2016 the $250 limit is adjusted for

PATH Act Overview Part 5: Business Related Changes

WHAT ABOUT OTHER BUSINESS-RELATED MODIFICATIONS? Energy-efficient commercial property.  The PATH Act extends the deduction for energy-efficient commercial building property for two years, making it available for qualified property placed into

PATH Act Overview Part 2: Bonus Depreciation

Bonus Depreciation Was Extended And Modified The additional depreciation allowance (bonus depreciation) is extended to apply to qualifying property placed in service before Jan. 1, 2020 (or before Jan. 1,

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