Republicans Unveil Tax Reform Framework

Republican lawmakers released a framework for tax reform on Wednesday, announcing that their goals are to cut tax rates, simplify the Internal Revenue Code, and provide a more competitive environment for business. The framework generally reiterates proposals made by President Donald Trump in April.

Read More: https://www.journalofaccountancy.com/news/2017/sep/republican-tax-reform-framework-201717551.html

Questions: http://rehcpas.com/

When IRS Can Collect Taxes From You Owed By Someone Else

It seems bad enough that you have to pay your own taxes, let alone someone else's. But it can happen. The IRS sometimes comes after one taxpayer to collect the tax liability of someone else. How is this possible, you might wonder? The answer is "transferee liability," a concept embodied in Section 6901 of the tax code. Actually, the concept has deep roots in legal history. In fact, it is a creditor protection device going back hundreds of years. Essentially, the IRS can pursue a "transferee"—someone who received assets or money for less than full and fair value from the taxpayer. You might think of it as kind of a stolen property rule.

Read More: https://www.forbes.com/sites/robertwood/2017/09/25/when-irs-can-collect-taxes-from-you-owed-by-someone-else/#6db4dca97c07

Questions: http://rehcpas.com/

Renowned Biochemist Brings Wrong Formula To Tax Court

William Rutter is no dummy. A world-renowned scientist in the field of biotechnology, he earned a degree from Harvard and PhD from the University of Illinois before performing postdoctoral work at the Nobel Institute in Sweden. He has published over 400 scientific papers, holds over 25 patents, and has earned millions upon millions of dollars developing HIV and Hepatitis vaccines.

Read More: https://www.forbes.com/sites/anthonynitti/2017/09/09/renowned-biochemist-brings-wrong-formula-to-tax-court/#7d4efbd9a80e

Equifax Cybersecurity Incident

To learn more about the cybersecurity incident, including whether your personal information was potentially impacted, or to sign up for complimentary identity theft protection and credit file monitoring https://www.equifaxsecurity2017.com/

Equifax had a security brach on September 11, 2017

Listed below are a few items you can do now to help protect your information:

1) Adjusted our PIN Generation for Security Freezes
2) Call Center Support
3) Clarification Regarding Automatic Sign-Up to TrustedID Premier
4) Obvious Link from Equifax.com
5) Adjusted the TrustedID Premier and Clarified Equifax.com