• Mileage Rates for 2014 and 2015

    The Internal Revenue Service today issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup or panel truck will be: 57.5 cents per mile…

  • $42 Billion in Temporary Relief to Taxpayers

    The House of Representatives voted to revive dozens of U.S. tax breaks that expired December 31, 2013 for this year and set them to expire again on December 31, 2014. The bill now heads to the Senate, where Finance Committee Chairman Ron Wyden has complained that it excludes tax breaks for the health care of laid-off…

  • Alabama Department of Revenue Warns Taxpayers of Phone Scam

    Montgomery, Nov. 20, 2014— The Alabama Department of Revenue has been made aware of a current scam targeting Alabama taxpayers. Someone claiming to be an employee of the Department of Revenue is making phone calls telling taxpayers they need to pay an amount due immediately. According to Julie Magee, Commissioner of Revenue, this is a…

  • Taxpayers are Entitled to Representation

    Taxpayers are Entitled to Representation

    The direct contact provisions of Internal Revenue Code Section 7521 generally require IRS personnel to stop a taxpayer interview whenever a taxpayer requests to consult with a representative, and prohibits IRS personnel from bypassing a qualified representative without supervisory approval once a taxpayer authorizes one to act on his or her behalf and informs the…

  • IRS Emails

    The facts and circumstances at issue here surrounding the testimony before Congress regarding the lost IRS Emails are of great concern to me. I believe this matter to be every bit as serious as the Watergate scandal. I’m convinced we are witnessing political treachery, abuse of power and government resources at its worst. I’m afraid…

  • Cook Awarded CGMA Designation

    Cook Awarded CGMA Designation

    Birmingham, AL (June 28, 2014) – Gregory J. Cook, owner of Cook & Co. Tax Advisors, has been awarded the Chartered Global Management Accountant (CGMA) designation from the American Institute of CPAs and the Chartered Institute of Management Accountants. The CGMA designation recognizes professionals who have deep understanding of finance and have expanded their business…

  • 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  

  • 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.

  • 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…