Bauman Associates Certified Public Accounts and Advisors
Thursday, March 11, 2010
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Bauman Associates Certified Public Accountants & Advisors
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Changing tax laws and recent tax acts can be confusing. How do they affect you, your business or your life? Let our professionals help you understand the details and apply them to your unique situation. We'll help simplify the information and develop the right strategies to meet your needs.

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The hardest thing in the world to understand is the income tax.
—Albert Einstein
 

Record Retention Guide for Businesses
Let us help keep you up to date on recent legislation. Our resource center offers you convenient access to a wealth of knowledge to make filing your tax returns easier.

 

To view the following PDF documents, you must have Adobe Acrobat Reader which can be downloaded here.

2008 Economic Stimulus Package 2/2008
2008 Economic Stimulus Package 2/2008
2007 Year-End Tax Legislation 12/2007
Small Business & Work Opportunity Tax Act 7/2007

March 2010

Congress turns focus to economy; Senate readies jobs bill
IRS issues 2010 vehicle depreciation dollar limits
IRS makes case for greater disclosure from businesses
IRS survey reveals increased tolerance of "a little" cheating
IRS Statistics of Income on 2007 top 400 AGI taxpayers shows taxpayers increasing wealth, lower effective tax rates

 

February 2010

IRS provides new first-time homebuyer credit form
Due date relief now available for COBRA premium payment assistance
Congress approves 2009 deductions for 2010 Haiti earthquake donations
IRS publishes maximum FMVs for business automobiles using the cents-per-mile and fleet average valuation methods
IRS chooses to wait for Congress to act on employer-provided cell phone tax rules

 

January 2010

IRS cuts mileage rate for business miles driven
IRS issues proposed rules on payment card transactions and broker basis reporting
Smartcard and related fare media rules delayed by IRS
IRS Commissioner outlines agenda for 2010 and beyond
Pilot tip reporting program for food and beverage employees extended through 2011

 

December 2009

Congress has busy tax agenda as 2009 comes to a close
Making work pay credit may result in underwithholding, government watchdog warns
IRS reports big jump in voluntary disclosures of offshore accounts
IRS reminds homeowners about new energy credits to help "winterize" your home
IRS provides guidance on "repeat" homebuyers for new $6,500 tax credit

 

November 2009

Low inflation keeps pension-related amounts unchanged for 2010
Revenue raisers vex lawmakers as they debate health care reform
Sole Proprietors Reporting Losses Likely To Be Noncompliant, IRS Told
Congress set to extend first-time homebuyer credit and crack down on abuses
IRS offshore compliance initiative comes to an end; IRS touts its success

 

October 2009

Businesses brace for IRS employment tax compliance audit project
IRS revises procedures for automatic consent to change of accounting method
Deadline on 2009 required minimum distribution waiver coming up
IRS extends collection moratorium on tax-shelter disclosure penalties in smaller cases
IRS extends offshore disclosure deadline and FBAR relief

 

September 2009

IRS gets help from Swiss in uncovering secret bank accounts
Debate continues over health care reform and tax incentives during Congress' summer recess
IRS wins important tax workpapers disclosure case
IRS provides mandatory rules for electing new cancellation of indebtedness income tax break
IRS warns of new identity theft scams

 

August 2009

IRS aims for 86 percent voluntary compliance rate in 2009
IRS may allow casualty loss deduction for Chinese-made drywall
IRS nixes mid-year terminations of SIMPLE IRAs
IRS gives small businesses temporary reprieve from tax shelter penalty
IRS can levy on health savings accounts

 

July 2009

IRS moves to simplify employer-provided cell phone recordkeeping rules
Sales tax deduction and "cash-for-clunkers" aim to boost car sales
IRS updates COBRA premium assistance guidance for employers and dislocated workers
Few high-income taxpayers escape U.S. taxation, IRS reports
IRS interest rates unchanged for third quarter 2009

 

June 2009

First-time homebuyer tax credit may be allowed as a down payment
Distressed employers allowed to reduce or suspend 401(k) or 403(b) non-elective contributions
IRS issues withholding adjustment option for pension plans to offset Making Work Pay credit
IRS announces 2010 inflation adjustments for HSAs
Partnerships converting to corporations can immediately elect S-corp status

 

May 2009

IRS reminds taxpayers of temporary exclusion for unemployment compensation
President's tax proposals stir controversy
IRS tries "carrot and stick" approach to uncover offshore tax evaders
IRS warns pension recipients about Making Work Pay credit
Energy credits can mean big tax savings, IRS reminds taxpayers

 

April 2009

IRS finally pulls the plug on private tax collection
President's tax proposals stir controversy
IRS reminds individuals of suspended RMD rules
Drop in IRS interest rates provide planning opportunities
Ponzi-scheme investors receive some good news from the IRS

 

March 2009

Paychecks rise as employers implement new Making Work Pay tax credit
IRS issues final regulations on automatic enrollment
IRS begins developing guidance for broker basis and merchant payment card reporting
IRS Chief Counsel examines limits on Code Sec. 199 deduction
IRS intensifies fight against offshore tax evasion

 

February 2009

IRS targets tax-collection relief to taxpayers buffeted by recession
IRS eases investment rules for "529" college savings plans
IRS releases 2009 FMVs for business autos and trucks
Taxpayers overwhelmed by complexity, National Taxpayer Advocate warns
IRS describes allocation of new first-time homebuyer credit between unmarried taxpayers

 

January 2009

Congress passes pension funding relief, RMD suspension and more
Congress predicted to pass early stimulus bill for Obama to sign
IRS shortens tax lien subordination/discharge process to help distressed homeowners
IRS issues year-end 409A nonqualified deferred compensation guidance
Court of Appeals rules tuition and fees paid to religious schools are not deductible