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Florida Man Owes IRS 150% Penalty on Swiss Account
A federal jury found an 87-year-old Florida man owes the U.S. government civil penalties amounting to 150 percent of the value of his Swiss bank account, the biggest such penalty by percentage on record, his lawyers said. http://www.bloomberg.com/news/2014-05-28/florida-man-87-owes-150-of-swiss-account-jury-says.html
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Senate Republicans Block Tax Cuts
Senate Republicans blocked a package of more than $80 billion in tax cuts. The bill would have revived more than 50 tax breaks that lapsed Dec. 31 and would have extended them through 2015. I hope and pray the good people of Kentucky will do America a favor by voting Mitch McConnell out this year.
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GOVERNOR’S TAXES
GOVERNOR’S TAXES – Alabama Governor Robert Bentley’s tax form shows an adjusted annual income of $373,000 in documents just mailed to the IRS. What makes that unusual is Bentley refuses to take a salary until unemployment falls to 5.2 percent in the state. Actually, he sold an office building he owned while working as a…
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Security Notice
NONE OF OUR SERVERS OR THOSE OF OUR VENDORS WERE AFFECTED BY “HEARTBLEED”. You’ve probably heard about the Security Alert regarding “HEARTBLEED”, the code exploit that manipulates OPENSSL. Heartbleed is a catastrophic bug in OpenSSL, a software library of great significance, used by almost everyone (except Microsoft) for their SSL/TLS code. Without going into any…
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April Is Here!
This is a snapshot of our schedule this past Saturday. No evening appointments on Saturdays, but as you can see, we had no openings. If you have not yet scheduled an appointment, please don’t delay. These last few weeks are our busiest and most hectic time. If you need to file an extension give us…
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Shared Responsibility Payment
Starting January 2014, you and your family must either have health insurance coverage throughout the year, qualify for an exemption from coverage, or make a payment when you file your 2014 federal income tax return in 2015. Many people already have qualifying health insurance coverage and do not need to do anything more than maintain…
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Health Insurance on W-2
You may be wondering if you have to report the value of your employer-sponsored health insurance coverage, which may appear on your W-2, Wage and Tax Statement when you file your 2013 federal income tax return. The health care law requires certain employers to report the cost of coverage under an employer-sponsored group health plan. The…
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News From Cook & Co.
Since launching our secure internet portal two years ago, more and more clients have elected to receive their “keep copies” of tax returns electronically. As a result, we are ordering the over-sized big red envelopes by the hundreds now instead of thousands. For those taxpayers that must send a check to the federal or state…
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Health Insurance Premium Tax Credit
Starting in 2014, if you get your health insurance coverage through the Health Insurance Marketplace, you may be eligible for the premium tax credit. This tax credit can help make purchasing health insurance coverage more affordable for people with moderate incomes. The open enrollment period to purchase health insurance coverage for 2014 through the Marketplace…
