Clamp-down on paid preparers

The clamp-down on paid preparers is an initiative to improve the quality and accuracy of returns prepared for compensation. A move that I personally welcome in the interests of the paying public.

Regulations for foreign paid preparers

The IRS is dramatically tightening up its regulations on paid preparers with new regulations in force effective mid-September. Paid preparers are now required to register with the IRS, pay a user fee and obtain a Preparer Tax Identification Number (PTIN). I am waiting...

Self-employment tax on S-corporations

Self-employment tax was previously not imposed on income derived from an S-corporation*. Due to abuse. this is to change, leading to controversy over why an individual should incorporate at all when the income from an S-corp flows through to the individual. *An...

GST increase in NZ effective 1 October 2010

GST increases in New Zealand effective 1 October 2010. This has been heavily publicized by accounting professionals and the Inland Revenue Department in the past month. New Zealand still does not exempt necessary items such as food from GST as does Australia. Tax cuts...

Financing the 2010 HIRE Act

We are receiving inquiries in relation to the increased reporting and disclosure requirements financing the 2010 HIRE Act. Financial institutions outside the United States face either having to disclose the name, address and taxpayer identification number of affected...
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