Firm News

The IRS announced today that “Individuals and businesses making contributions to charity should keep in mind some key tax provisions that have taken effect in recent years, especially those affecting donations of clothing and household items and monetary donations. Rules…

The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2013. The rates will be: three (3) percent for overpayments [two (2) percent in the case of a corporation]; three…

The Internal Revenue Service today alerted employers and other taxpayers that because Hurricane Sandy is designated as a qualified disaster for federal tax purposes, qualified disaster relief payments made to individuals by their employer or any person can be excluded…

To help distressed homeowners lower their monthly mortgage payments, the U.S. Departments of the Treasury and of Housing and Urban Development established the Home Affordable Modification ProgramSM (HAMPSM) for mortgage loans that are not owned or guaranteed by Fannie Mae…

Some lenders today will require that you at least try for a short sale before they will consider a Deed In Lieu Of Foreclosure. Some people are in favor of doing a short sale because – It’s not a foreclosure.…

The Taxpayer Advocate Service (TAS) is designed to be a “safety net” for taxpayers who are experiencing problems with the IRS. However, because the TAS has been inundated with requests from six million to 12 million taxpayers who may be…

On January 9, 2012, the Internal Revenue Service reopened the offshore voluntary disclosure program to help people hiding offshore accounts get current with their taxes and announced the collection of more than $4.4 billion so far from the two previous…