IRS publishes applicable federal interest rates for February 2015. This revenue ruling provides various prescribed rates for federal income tax purposes for February 2015 (the current month). Table 1 contains the short-term, mid-term, and long-term applicable federal rates (AFR) for the current month for purposes of section 1274(d) of the Internal Revenue Code. Table 2 … Read more
A federal judge has overturned the Labor Department’s rules providing overtime and minimum-wage protection for home health care workers. The rules were announced in 2011 by President Obama, reports The Associated Press. Federal employment regulations had previously exempted home health care workers from wage and overtime requirements for other types of employees. The new rules … Read more
H&R Block, the nation’s largest retail tax preparation company warns that the newly released Obamacare tax code, officially called the Affordable Care Act, is likely to confuse millions of taxpayers who try to tackle their tax returns for 2014. “Now that the Affordable Care Act has made health care a tax issue, no one can … Read more
It’s always a good idea to prepare early to file your federal income tax return. Certain provisions of the Affordable Care Act – also known as the Health Care Law – will probably affect your federal income tax return when you file this year. You or your tax professional should consider preparing and filing your tax return … Read more
As the New Year begins, you should be aware of several significant changes in store for the life insurance industry. Many of the changes are great for both agents and their customers, though there are some pitfalls to avoid. Technology has played a big part in many of the new trends, and the industry has … Read more
IR-2014-104, Oct. 30, 2014 WASHINGTON — For tax year 2015, the Internal Revenue Service announced today annual inflation adjustments for more than 40 tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure 2014-61 provides details about these annual adjustments. The tax items for tax year 2015 of greatest interest to most … Read more
If you are a low-to-moderate income worker, you can take steps now to save two ways for the same amount. With the saver’s credit you can save for your retirement and save on your taxes with a special tax credit. Here are six tips you should know about this credit: 1. Save for retirement. The formal … Read more