Monthly Archives: August 2011

Paying Estimated Taxes

From Carol McAtee’s CPA firm in St. Petersburg, FL –Usually, income derived from self-employment, interest, dividends, alimony, rental property, and from gains on the sale of assets is not subject to withholding, and taxpayers receiving these types of income may … Continue reading

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Budget Control Act of 2011

From Carol McAtee’s CPA firm in St. Petersburg, FL – On August 2, the Budget Control Act was signed into law. The new law raises the debt limit to avoid a projected default by the government, and creates a bipartisan … Continue reading

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IRS Offers Options for Taxpayers Who Cannot Pay Their Bill

From Carol McAtee’s CPA firm in St. Petersburg, FL –The IRS offers a few options if a taxpayer cannot pay the full amount of their tax liability for the year; either the option to pay it off over time or … Continue reading

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Expanded Form 1099 Reporting Requirement Repealed

From our CPA firm in St Petersburg, FL– After months of debate, Congress has repealed the expanded requirement that businesses report to the IRS all payments made in excess of $600 to vendors. The provision, originally enacted to fund the … Continue reading

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