Weekly News Round Up: IRS Warns of Presidents Day Volume; Refunds on Severance Pay; and Financial Planning Tips for Women
February 16, 2015
Welcome to the Weekly News Round Up from the SC&H Group blog. Each week, we showcase a series of news stories that span everything from government contracting to personal finance to state and local tax issues.
This week, we have a story about how the IRS is warning of an upcoming busy time in this year’s tax season. In addition, Congress is urging the IRS to ease up on the seizing of assets of small businesses and Wolters Kluwer provides an in-depth analysis of President Obama’s tax plan.
IRS Warns of Presidents Day Volume
The IRS has warned that the coming three-day weekend typically kicks-off one of the busiest weeks of the tax filing season for the service’s phone lines, and encourages those who need IRS help to use alternative communication methods.
IRS Disallows Most Refunds of Taxes on Severance Pay
In response to a Supreme Court decision last year, the Internal Revenue Service issued an announcement on how it would continue to disallow most claims for refunds of taxes on severance pay, with some exceptions.
Lawmakers Press IRS to Ease Up on Seizing Assets from Businesses
U.S. House members pressed the Internal Revenue Service to go easier on cash-dependent small businesses that are at risk of having assets seized by the tax agency.
Wolters Kluwer Analyzes Obama’s Budget and Tax Plan
Wolters Kluwer Tax & Accounting US has released a new report examining the tax implications of the White House’s recently released budget blueprint for fiscal year 2016.
SEC Rule Targets Officers That Hedge Company Shares
Corporations small and large will have to explicitly disclose whether they allow board directors, officers, or other employees to hedge their holdings of company stock under a new regulatory proposal.
Seven Personal Finance Lessons Women Learn in Their 30s
Wise Bread is offering these seven financial planning tips for women in their 30s.