Rocco Romano

ACA Delay Offers Planning Opportunities for Retailers

by Rocco Romano 11. October 2013 16:47
The well publicized delay to the Employer Mandate of the Patient Protection and Affordable Care Act (also known as the Affordable Care Act, or ACA) offers a strategic planning opportunity for retailers.   The stated purpose for the delay from Jan. 1, 2014 until Jan. 1, 2015, is to provide empl... [More]

Final Regulations On Medical Device Excise Tax

by Rocco Romano 14. December 2012 10:25
The Internal Revenue Service and the Treasury Department released final regulations on the medical device excise tax on December 7. The final regulations did not differ dramatically from the proposed regulations; however they did address a number of concerns raised by commentators during the pu... [More]
Categories: Tax

Have an EIN? Action May Be Required

by Rocco Romano 19. March 2012 12:15
    The IRS is proposing that taxpayers that have an employer identification number (EIN) will be required to update their information with the IRS. At issue is that EINs - which are issued to employers, sole proprietors, corporations, partnerships, nonprofit associations, trusts, estat... [More]
Categories: Tax

The Tax Gap - are you the 86%?

by Rocco Romano 27. January 2012 10:35
Every 5 years the IRS releases updated Tax Gap estimates, and it has just published the findings for 2006, the most recent year for which figures were analyzed. The Tax Gap statistic measures compliance by comparing total tax liabilities to total tax receipts (including with enforcement collections ... [More]
Categories: Tax

IRS Enforcement Efforts Escalate

by Rocco Romano 18. November 2011 14:14
Look out if you owe the IRS.  The Internal Revenue Service has hired new and vigorous revenue officers who have been given the green light to go to people’s homes and businesses.  Treasury Secretary Timothy Geithner says the IRS will be more forceful in collecting back taxes and pros... [More]
Categories: Tax

IRA Owners and Advisors: Take a Final Look at Roth Conversions before 10-17-11

by Rocco Romano 4. October 2011 11:23
IRA OWNERS AND ADVISORS: TAKE A FINAL LOOK AT ROTH CONVERSIONS BEFORE 10-17-11   Many taxpayers who were willing to pay income taxes on their retirement funds at 2010 rates (or under the special installment rules allowed) in exchange for tax-free future earnings, converted their traditional... [More]
Categories: Tax

Hurricane Irene Victims Given Tax Relief

by Rocco Romano 14. September 2011 15:45
Updated: Hurricane Irene and Tropical Storm Lee Tax Relief. As a result of Hurricane Irene and Tropical Storm Lee, the IRS has postponed deadlines for Pennsylvania taxpayers who reside or have a business in a federal disaster area until Oct. 31, 2011. This includes corporations and ot... [More]
Categories: Tax

Social Security Benefit Statement Mailings: A Thing of the Past?

by Rocco Romano 6. July 2011 14:41
The Social Security Administration has ceased all paper mailings of SSA earnings and future benefits, savings millions for the Federal Government to help fight the national debt. [More]
Categories: Tax