Congress just signed into law the "Protecting Americans from Tax Hikes Act of 2015" (PATH Act) which is good news for many taxpayers. The Act makes many long-favored tax extenders permanent. Some of these extenders include an enhanced child tax credit, the state and local general sales tax deduction, the ability to make tax-free charitable distributions from IRAs, the enhanced Section 179 deduction and many other provisions. The Act also modified and temporarily extended othe

Does your business issue payments to third parties via check or cash for services, non-employee compensation, rent or other items? If so, you will want to make sure you comply with the annual reporting requirements outlined by the IRS or you risk losing the ability to deduct those payments as a business expense on your entity's tax return. This reporting requirement, often referred to as "1099 reporting", is an annual filing requirement for any entity or individual business o