Tax Alerts

Tax Briefing(s)

Fiscal Year (FY) 2016 Budget ProposalsTax Increase Prevention Act of 2014/ABLE Act/Omnibus Funding Agreement2014 Year-End Planning

IRS issues 2015 auto and truck maximum FMVs for cents-per-mile/fleet-average valuation
The IRS recently issued the maximum fair market value (FMV) amounts that designate the proper valuation rule for employers calculating fringe benefit income from employer-provided automobiles, trucks,...

IRS updates accounting method procedures
Taxpayers must obtain the IRS’s consent to change any of their accounting methods under Code Sec. 446(e). The IRS has updated and made changes to its revenue procedures for obtaining IRS consent...

IRS guidance describes application of research credit to internal use software
Treasury and the IRS have issued proposed regulations on the research tax credit with respect to computer software developed for internal use. The proposed regulations define "internal use softwa...

Congress retroactively increases excludable transit benefits; IRS provides guidance for employers
At the end of 2014, Congress passed the Tax Increase Prevention Act of 2014 (2014 Tax Prevention Act) (P.L. 113-295), which extended numerous provisions for the 2014 tax year. One of these extensions ...

National Taxpayer Advocate’s Annual Report to Congress criticizes IRS budget cuts
National Taxpayer Advocate (NTA) Nina Olson has released her 2014 Annual Report to Congress and cautioned that due to budget cuts, the IRS’s customer service has reached unacceptably low levels ...

KY - Combined reporting, market-based sourcing and reportable transaction bill introduced
Legislation has been introduced in the Kentucky House of Representatives that would require unitary business groups to report Kentucky corporation income tax liability on a water’s edge combined...

OH - Consolidated elected and combined taxpayer groups information release updated
The Ohio Department of Taxation has updated its information release pertaining to the rule (OAC 5703-29-04) regarding excluded persons and the formation of consolidated elected and combined taxpayer g...

WV - Penalty assessment for improper shipping upheld
A taxpayer subject to the West Virginia motor fuels tax who transported fuel to a diverted location within the state without documentation was properly assessed a civil penalty. Motor fuel shipping do...

Committed to Helping You Achieve the Highest Return on Your Investment

Welcome to Robert G Payne, CPA and thank you for visiting our website. In addition to providing you with a profile of our firm and the services we provide, this website has been designed to become a helpful resource tool to you, our valued clients and visitors. Our dedication to superior client service has brought us to the Internet as we endeavor to continue to provide the highest quality professional service and guidance.

As you browse through our website, you will see that we have highlighted background information on our firm and the services we provide. We have also included useful resources such as informative articles (in our Newsletters section) and interactive financial calculators (in our Financial Tools section). In addition, we have taken the time to gather many links to external websites that we think would be of interest to our clients and visitors (in our Links section).

Please feel free to contact us with any questions or comments you may have - we would love to hear from you. We pride ourselves on being proactive and responsive to our clients' inquiries and suggestions.