Congress finally passed” The Protecting Americans from Tax Hikes Act of 2015”. This was the long anticipated bill that will finally extend more than 50 tax provisions that have left tax payers in doubt over the last several years.

For years, it has always been a struggle to determine whether a worker is an employee or an independent contractor.

For decades, the IRS used the same application, Form 1023, for all nonprofits seeking Section 501 (c)(3) tax-exempt status. Although, the IRS had a lower application fee ($400 instead of $800) for small nonprofits with annual gross income of less than $10,000, there wasn’t a simpler application process for the small organizations.

When a person reaches age 70.5, and they have an IRA account, they must start taking Required Minimum Distributions (RMD) annually.

Living in the Midwest comes with plenty of perks. One of these perks is experiencing every season: gorgeous Autumns, frosty Winters, serene Springs, and blistering Summers. Unfortunately, Midwesterners also know severe weather all too well.

If you were legally married on 12/31/14, the IRS considers you married for the entire year of 2014.