• New report suggests IRS should revamp medical device excise tax program

    The IRS has already begun making changes to its medical device excise tax program based on feedback from the Treasury Inspector General for Tax Administration.

    A recent report from the Treasury Inspector General for Tax Administration (TIGTA) said the IRS needs to make changes to its medical device excise tax program, which is part of the Affordable Care Act (ACA). The recommended improvements will serve to ensure accurate tax information reporting and payment of the tax.

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  • SaaS is the top cloud technology used by organizations

    SaaS offers organizations greater flexibility and agility, making it the top cloud solution  among organizations.

    More organizations are turning to software as a service (SaaS) as their primary cloud solution. In fact, a recent study by Kable Market Intelligence found SaaS is the most used cloud computing type among organizations, compared to infrastructure as a service (IaaS) and platform as a service (PaaS).

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  • New bill could introduce sales tax for Internet sales

    Remote sellers may soon be required to collect sales and use taxes as a result of a new Senate bill.

    Since Internet sales became popular, some brick-and-mortar retailers have been disgruntled because online retailers often aren’t required to collect sales and use tax. According to AccountingWeb, traditional retailers complained their online counterparts gained an unfair advantage as a result.

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  • IRS issues notice on covered entities for health insurance fees

    A recent IRS notice provided guidance on the definitions of covered entities and controlled groups as well as how they should report net premiums for the 2014 fee year.

    The IRS recently published Notice 2014-47, which provided guidance on health insurance provider fees and the definition of a covered entity under the Affordable Care Act (ACA). Information contained in the notice applies to the 2014 fee year.

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  • The growing presence of finance management in the cloud

    Cloud computing is being more widely adopted for financial management.

    These days, many businesses are using cloud-computing technology for their organizations’ tax information reporting and other finance management responsibilities. As more software-as-a-service (SaaS) options become available, entrepreneurs, accounting firms and chief financial officers are seeing the benefits of the cloud.

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