TriCor Tax & Accounting, LLC

New online search tool makes it easier to find information about exempt organizations The Internal Revenue Service announced the launch of a new online lookup tool, Exempt Organizations Select Check, that will allow taxpayers to find out whether an organization is eligible to receive tax-deductible contributions or has had its tax exemption revoked.

Going, going, gone: Tax breaks set to expire in 2012

Taxation of abandonments, foreclosures and repossessions Many taxpayers in the current economy have had trouble paying mortgages, car notes and other debts. Some are forced to abandon property, go through foreclosures or have property repossessed. While such measures may alleviate the financial burden on these taxpayers, the tax consequences often are ove...

So far this only relates to miles received for opening an account but seems like something we need to keep an eye on since the search is on for additional tax revenues.

Taxability of frequent-flyer miles up in the air - InvestmentNews The issue of whether frequent-flyer miles can be taxed has been muddied by a statement by the Internal Revenue Service that awarding miles for opening a financial account can create a “taxable situation.”

Protecting a Cellphone Against Hackers As cellphones become more like computers, they are attracting hackers who can listen to calls or steal information. But there are ways to bolster a phone’s defenses.

IRS issues final regs on exclusion of damages for personal physical injury The IRS issued final regulations removing the requirement that damages received from a legal suit, action or settlement for personal physical injury or sickness must be based on “tort or tort type rights” in order for the taxpayer to exclude them from income.

FYI

Home office deduction Now may be a good time to review the criteria for claiming a deduction for the business use of part of a person’s residence.