An office building is owned by Ima Attorney personally. The corporation leases building and pays for all related expenses. The building is damaged by termites and cost incurred incident to the termite damage is $38,000. Expenditures made during the year must be properly classified between capital expenditures and deductible expenses. Should cost incurred to repair [...]
The IRS has issued a warning about a fraudulent scheme targeting Electronic Federal Tax Payment System (EFTPS) users. The scheme uses an e-mail claiming that the user’s tax payment was rejected and directs the user to a website for additional information. The website contains malware that will attempt to infect the user’s computer. The IRS [...]
 Consistent with a Financial Management Service initiative announced in April of this year, the IRS today issued proposed regulations to significantly increase the number of electronic transactions between taxpayers and the federal government. The proposed regulations (REG 153340-09) would eliminate the rules for making federal tax deposits by paper coupon because the paper coupon system [...]