IRS Statistics Show the Alternative Minimum Tax Decreasing – What Gives?

Periodically the IRS publishes what it calls its Statistics of Income Bulletin. This document reports data that has been compiled from all of the tax returns filed for the previous year, including data on the Alternative Minimum Tax. This year’s report shows that, for the first time after six straight years of the AMT increasing, [...]

Tax Preparer Work Demands Considerations With State Returns

Although the focus of tax preparer education is the myriad of IRS rules for federal returns, some knowledge of state tax returns is important. Preparation of state income tax returns is a routine service for most tax practitioners. When people earn income in multiple states during the tax year, a tax preparation business will encounter [...]