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Important Federal Tax Developments - Fourth Quarter of 2009
January 22, 2010
Tax legislation. In November, Congress passed the Worker, Home-ownership and Business Assistance Act. The new law provides all businesses with an expanded net operating loss (NOL) carry back and extends the first-time homebuyer credit. CCH Federal Tax Weekly, No. 45, November 12, 2009.

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Tax lessons from the 2009 filing season
May 4, 2009
You've just filed your 2008 tax return and the last thing you likely want to think about is the next filing season. However, it never hurts to have a leg up, and with the end of filing season and the 2009 tax year well underway, now is a great time to take a look back and learn some lessons from this filing season that can undoubtedly help you next year.

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Using fringe benefits as an income substitute during the economic downturn
April 6, 2009
Many businesses are foregoing salary increases this year because of the economic downturn. How does a business find and retain employees, as well as keep up morale, in the face of this reality? The combined use of fringe benefits and the tax law can help.

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How Do I? Determine if someone has been 'involuntarily terminated' for purposes of the new COBRA subsidy?
March 2, 2009
Individuals who have been "involuntarily terminated" from employment may be eligible for a temporary subsidy to help pay for COBRA continuation coverage. The temporary assistance is part of the American Recovery and Reinvestment Act of 2009 (2009 Recovery Act), and is aimed at helping individuals who have lost their jobs in our troubled economy.

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FAQ: Can the first-time homebuyer credit be claimed in advance of a purchase?
February 2, 2009
No. Many individuals may be considering buying a new home in 2009 as home prices continue to drop in many areas across the country. They may also be wondering if they can claim the $8,000 first-time homebuyer tax credit before actually purchasing the home.

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May 2009 Tax Compliance Calendar
January 12, 2009
As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines.

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