February 22, 2012

In a definitive answer to questions about 1099K reporting requirements, which relates to debit and credit card receipts, the IRS has said it will not require retailers and businesses to separately reconcile reimbursement information, such as cash back, sales taxes, state and local deposits, and other non-income related dollars from the gross receipts.

The IRS letter came in response to an inquiry from the Retail Industry Leaders Association (RILA), an Arlington, Va., trade group.

March 6, 2011

The U.S. House of Representatives voted 314 to 112 on March 3 to repeal   Form 1099 reporting requirements that would create a mountain of paperwork for small businesses. The requirement, passed last year as part of the healthcare bill and scheduled to start in 2012, would require businesses to file an IRS Form 1099  for each vendor they purchase $600 in goods or services from in any given tax year. 

January 17, 2011

Orlando -- The National Association of Home Builders (NAHB) made it very clear during the International Builders' Show that it's prepared to fight for the mortgage interest deduction. 

December 22, 2010

President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act last week. Below is a brief summary of key provisions in the act, as analyzed by the National Lumber and Building Material Dealers Association (NLBMDA).

December 13, 2010

The National Lumber & Building Material Dealers Association issued an alert for the wide-ranging Tax Relief, Unemployment, Unemployment Insurance Reauthorization and Job Creation Act.

For the full alert, click here.

September 5, 2010

Forces armed with common sense appear to be making a courageous stand against a provision...

February 27, 2008

A federal court reduces the back taxes owed by John Menard in his long-running dispute...

February 10, 2008

Super Tuesday is over, but the presidential campaign is just beginning in earnest. At press...