Jackson Hewitt sues H&R Block over “false” ads!!!
NEW YORK (Reuters) – Jackson Hewitt Tax Service Inc sued H&R Block Inc to stop a new advertising campaign that it said misleads customers about tax refund loans and disparages Jackson Hewitt’s competence. Monday’s lawsuit comes on the eve of the main U.S. tax filing season, a crucial period for the largest U.S. tax preparation companies because the February-to-April quarter accounts for roughly three-fifths of annual revenue and much of their profit. Kate O’Neill Rauber, an H&R Block spokeswoman, in an email...
read moreWhy Your Business Needs Social Media & MIKE’S AD SHOP
Since its inception in December 2007, HauteLook has come a long way. Starting with a payroll of just four, the online sample sale site now boasts 260 employees and shows no signs of slowing. It plans to increase its workforce by nearly 50% this year. CEO Adam Bernhard attributes a great portion of the company’s popularity and success to its social media efforts. “No matter what your business is, you need to be connecting with your customers or clients via social media to maintain a strong marketing relationship with them throughout...
read moreIRS Launches the IRS2Go App for iPhone, Android; Taxpayers Can Check Refunds
The Internal Revenue Service today unveiled IRS2Go, its first smartphone application that lets taxpayers check on their status of their tax refund and obtain helpful tax information. “This new smart phone app reflects our commitment to modernizing the agency and engaging taxpayers where they want when they want it,” said IRS Commissioner Doug Shulman. “As technology evolves and younger taxpayers get their information in new ways, we will keep innovating to make it easy for all taxpayers to access helpful...
read moreThe IRS Targets Income Tricks
There’s a saying: Pigs get fed and hogs get slaughtered. The Internal Revenue Service surely hopes that includes tax hogs. That is the message of a recent U.S. district court case won by the IRS against David Watson, a CPA in West Des Moines, Iowa. At issue: a common tax-cutting maneuver available to the owners of millions of closely held businesses. At issue: a tax-cutting maneuver available to the owners of millions of closely held businesses. The case, David E. Watson P.C. v. U.S., revolved around Mr. Watson’s low pay as...
read moreFor itemizers, IRS has set a tax-filing date of Feb. 14
Taxpayers who claim itemized deductions will be able to file their federal tax returns starting Feb. 14, the IRS said Thursday. While the tax-filing season began on Jan. 4, the IRS announced last year that taxpayers who itemize — which includes just about everyone who has a mortgage — would have to wait until at least mid-February to file. The IRS said the delay was necessary because it needed more time to program its systems to accommodate tax breaks included in the Tax Relief, Unemployment Insurance Reauthorization and Job Creation...
read moreTax Changes for Small Businesses
During 2010, new laws, such as the Affordable Care Act and the Small Business Jobs Act of 2010, created or expanded deductions and credits that small businesses and self-employed individuals should consider when completing their tax returns and making business decisions in 2011. Health Insurance Deduction Reduces Self Employment Tax With the enactment of the Small Business Jobs Act of 2010, self-employed taxpayers who pay their own health insurance costs can now reduce their net earnings from self-employment by these costs. Previously,...
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