Treasury to review/re-evaluate tax regulations
The Treasury Department is to undertake a review and re-evaluation
of tax regulations issued by the IRS since January 1, 2016.
President Trump signed an Executive Order 13789 (“Identifying and
Filing season ends with no red flags
The IRS processed more than 128 million returns and issued some 97
million refunds without hitting any major roadblocks by the end of
the filing season. As in past years, the vast majority of returns
FAQ: What are my odds of being audited?
Audit coverage rates are at low levels, the IRS has reported.
According to the IRS, the audit coverage rate for individuals fell
16 percent from FY 2015 to FY 2016. The 0.7 percent audit coverage
May 2017 tax compliance calendar
As an individual or business, it is your responsibility to be aware
of and to meet your tax filing/reporting deadlines. This calendar
summarizes important federal tax reporting and filing data for
IRS unveils taxpayer bill of rights
The Tax Code contains many taxpayer rights and protections.
However, because the Tax Code is so large and complex, many
taxpayers, who do not have the advice of a tax professional, are
unaware of thei...
FAQ: What is the self-employment tax?
Taxpayers who are self-employed must pay self-employment tax on
their income from self-employment. The self-employment tax applies
in lieu of Federal Insurance Contributions Act (FICA) taxes paid by
How do I? Compute depreciation for tax purposes
The simple concept of depreciation can get complicated very quickly
when one is trying to determining the proper depreciation deduction
for any particular asset. Here’s only a summary of some of...
Congress juggles immediate/long-term tax issues
Nearly half-way into the year, tax legislation has been hotly
debated in Congress but lawmakers have failed to move many bills.
Only one bill, legislation to make permanent the research tax
FAQs: What are AFRs for tax purposes?
The applicable federal rates (AFRs) are used for a number of
federal tax provisions. For example, Code Sec. 1274 uses AFRs to
determine whether a debt instrument has original issue discount
(OID or im...
IRS takes aim at employment tax compliance
The current likelihood that your business will become involved in
an employment tax audit or an employment-related income tax audit
has increased: the IRS is aggressively attempting to reduce the
Welcome to Corwin, Reichter & Co, P.C. Since 1971, our focus has been on helping you grow and preserve your personal wealth, as well as the wealth of your business. Initially, we were focused on taxation and auditing. However, over the years we have seen the industry change. In response to the industry changes, our clients have grown and evolved also. Our response to this evolution was to fully educate ourselves in many areas: business development, growth strategy, human resources, marketing, sales, management, operations, systems, customer service, business health checks, and more… This is our way of saying that you, and your needs, are important to us.
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