Blog Archive for June, 2012

Tweet I would have guessed Carrots before Sticks myself… but it is always nice to have your position upheld by research! Thanks to MSU. (EAS) EAST LANSING, Mich. — What motivates people to work harder: The promise of reward or the threat of penalty? A new study co-authored by a Michigan State University business scholar [...]

Tweet IRS procedures have been revised to not only increase the threshold for filing tax liens from $5,000 to $10,000 but also to permit withdrawal of a lien—that is, removal of the lien notice from the public record after a lien is released. However, even if the IRS automatically releases a lien when the tax [...]

Tweet Thanks for the reminder Jill! I rarely go shopping without a list… and when I do… the result is inevitable… I overspend!!!!  eas Write a list before you go shopping – and stick to it. One should never go into a store without a strong idea of what one will be buying while in [...]

Tweet The IRS is in the midst of a major effort to curb a growing problem with refund fraud and identity theft, according to IRS Deputy Commissioner for Services and Enforcement Steven Miller, who also said the effort to curb fraud could potentially impact how the IRS processes returns. Speaking at a conference of the [...]

Tweet                   Thursday, June 14, 2012–Thought you might enjoy the following information! Flag Day is a day commemorating the adoption of the Stars and Stripes as the official flag of the United States. Betsy Ross is said to have sewed the first American flag in 1776 although [...]

Tweet Small employers that pay at least half of the premiums for employee health insurance coverage under a qualifying arrangement may be eligible for the small business health care tax credit. Enacted two years ago, the credit is designed to encourage small employers to offer health insurance coverage for the first time or maintain coverage [...]

Tweet Thanks to the National Society of Accountants  for the following legislative update.  eas Legislation that would provide a 10 percent income tax credit for employers that create new jobs or increase wages in 2012 will be on the Senate floor during the month of June, Majority Leader Harry Reid (D-Nev.) said on May 22. [...]

Tweet The recent expansion of the IRS Fresh Start Program to help struggling taxpayers includes making Installment Agreements available to more people. Under the new Fresh Start provisions, part of a broader effort started at the IRS in 2008, the IRS is now doubling the dollar threshold for taxpayers eligible for Installment Agreements to help [...]

Tweet A reminder from the IRS on the expanded Work Opportunity Tax Credit for Employers. eas A law change enacted late last year now provides an expanded Work Opportunity Tax Credit (WOTC) to employers that hire eligible unemployed veterans. The credit can be as high as $9,600 per veteran for for-profit employers or up to [...]

Tweet Thanks to the National Society of Accountants for this legislative update.  eas Senate Finance Committee staffers are working on a proposal that would potentially allow the Senate to vote on a package of expired and expiring tax breaks before the November elections, according to a Democratic committee aide. Meanwhile, House Ways and Means Committee [...]