A new temporary highway funding bill recently became law. Buried within this temporary bill (the highway money runs out again October 29, 2015) are several tax law changes that have nothing to do with highway funding. Most of the tax law changes are effective after December 31, 2015 or for the 2016 tax year.

In a victory for CPAs reminiscent of last year’s passage of municipal income tax reform, the Ohio Supreme Court recently ruled unanimously in favor of taxpayers in the case of MacDonald v. Shaker Heights Board of Income Tax Review.

“EMV” is shorthand for Europay, MasterCard and Visa, three major players that joined forces to create protocols for global payment card acceptance. The EMV system works with point-of-sale terminal and ATM manufacturers and credit card processors to ensure that new cards embedded with electronic chips work worldwide. It is the only effective and efficient technology now in use that can prevent payment card fraud on a global scale.

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.

The Internal Revenue Service has released the inflation-adjusted deduction limitations for annual contributions to health savings accounts in 2016.

The Internal Revenue Service has agreed to change its policy on identity theft and provide victims with copies of the fraudulent tax returns that have been filed under their names by scammers.