Washington Tax Update
Students celebrate the coming of summer, but the long, hot days aren't necessarily carefree. If you are the parent of high school or college students who will be taking jobs this summer, there are a few things they should know.
Facilities offering indoor tanning recently received more guidance on the 10 percent excise tax on indoor tanning services added by the Patient Protection and Affordable Care Act in 2010. The IRS's final regulations on the excise tax, effective June 11, 2013, substantially adopt the rules of the 2010 proposed and temporary regulations.
A woman who had abandoned her residence must pay taxes on a capital gain after the bank sold the property after foreclosing on the mortgage, according to a new Tax Court verdict.
The IRS continues to deal with the challenges of taxpayer identity theft. For individual taxpayers who suspect that their financial information has been compromised, submitting Form 14039, Affidavit of Identity Theft, to the IRS is the place to start.
In baseball, teams usually win or lose the game on the field. Here is a situation where the outcome was decided by the umpires - the Tax Court to be exact.