The Wall Street Journal is reporting that General Electric will spin-off it's GE Capital division that issues store credit cards to nearly 55 million consumers.
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) yesterday ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes. The ruling applies regardless of whether the couple lives in a jurisdiction that recognizes same-sex marriage or a jurisdiction that does not recognize same-sex marriage.
The IRS has released a set of compliance tips for those who qualify for foreign tax credits. See http://www.irs.gov/Individuals/International-Taxpayers/Foreign-Tax-Credit-Compliance-Tips
The IRS released final regulations Tuesday on the Sec. 5000A shared-responsibility payment (better known as the Individual Mandate)—the penalty imposed on individual taxpayers who do not obtain minimum essential health care coverage beginning in 2014.
http://www.treasury.gov/press-center/press-releases/Pages/jl2152.aspx. Let us know if you have any questions.
The IRS has FINALLY issued proposed regs that define the rules for the small employer health care tax credit. These rules will be of interest to you if you:
1) have 25 or fewer employees,
2) pay an average of less than $50,000 per employee per year, and
3) pay 50% or more of your employees health insurance (or are interested in doing so).
If all of the above apply, you may qualify for the credit. Let us know if you need more information.
Nicole Young and Grace Bohall from the Winter Park office will each be spending time in the Cheyenne office over the next couple of weeks in order to receive additional audit training.If you need a callback from one of them, please feel free to give the Cheyenne office a call at 307-638-3170. Or, feel free to call the Winter Park office and leave a message.
All the news from myself, the firms and all of our team-members.