by GruffyGoat Team | Feb 11, 2016 | IRS, Scams
Earlier this week, the IRS announced that they discovered and stopped an automated cyberattack on the e-filing personal identification number (PIN) system last month. In this attack, cyber thieves used information stolen “outside the IRS” to generate e-file PINs for...
by GruffyGoat Team | Feb 9, 2016 | IRS, Small Business
The IRS recently announced that it’s raising the deductible amount for purchases of tangible property without applicable financial statements (AFSs) to $2,500 per item. It used to be that any item over $500 without an AFS had to be capitalized. (For taxpayers with...
by GruffyGoat Team | Feb 3, 2016 | IRS, Nonprofits
If an organization wants to qualify as a charity, it has to be exclusively dedicated to charitable activities and must comply with all the requirements of Sec. 501(c)(3). The U.S. Tax Court issued a judgment in December on a case dealing with an organization called...
by GruffyGoat Team | Jan 29, 2016 | Small Business
Servers at popular low-priced restaurants like Waffle House work just as hard as those as those at 5-star establishments. But they get paid much less. This past May, one patron at a Raleigh, North Carolina Waffle House decided he was going to give an especially...
by GruffyGoat Team | Jan 25, 2016 | Scams, Taxes
In a statement reported on by WYFF4, the South Carolina Department of Revenue said that they’ll be delaying refunds for the majority of filers until March 1. As scammers continue to steal identities and file false tax returns in order to get their victims’ refunds,...
