IRS Warns of Tax Refund Delays

The Internal Revenue Service warned Thursday, January 26th, that tax refunds could be delayed a week this tax season because of new anti-fraud safeguards.

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IMPORTANT CHANGES TO OHIO CHARITABLE

REGISTRATION

The Ohio Attorney General Office’s website contains

a user’s guide and tool tips which answers questions you may have about the new registration system.

www.OhioAttorneyGeneral.gov/CharitableRegistration

Tax Digest - January, 2012

• Repairs regulations finally issued on capitalization of tangible asset costs
• IRS issues notice for simplified OID method on pools of credit card receivables
• Directive emphasizes importance of compliance with method change rules
• Impact of partner type of partnership examinations
• Sale of state tax credits is a capital transaction
• Financial statement presented using IFRS: LIFO conformity rules applied

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