Daily Ledger

A roundup of the day's tax news & social happenings

Tax Tip of the Day

Bartering counts as income, even if no cash is involved. "If you barter, you should know that the value of products or services from bartering is taxable income. This is true even if you are not in business," the IRS tells us. Even so, bartering can be a great way to work together.

More info:

    What's New on IRS.gov

    Federal News

    Group Retirement Plans – Rev Proc 2015-28 (pdf) –

    Economic Sanctions – Statement by Secretary of the Treasury Jacob J. Lew on the Political Framework for a Joint Comprehensive Plan of Action Regarding Iran's Nuclear Program

    What if taxpayers got an account statement showing their share of government debt? That's the idea behind S.745 - National Debt and Taxation Transparency Act of 2015.

    Full text now up on Congress.gov.

    Ways and Means Committee – Ways and Means Oversight Forces DOJ Response on Civil Asset Forfeiture

    Ways and Means Committee – Roskam Blasts DOJ Decision on Lerner Contempt Charges

    Joint Committee on Taxation – Overview Of The Federal Tax System As In Effect For 2015 (JCX-70-15) (warning: automatic PDF download)

    State Tax News

    Upcoming Deadlines

    Upcoming Learning Events

    Tax Tool of the Day

    • Excel 1040 – yep, prepare a Form 1040 using Microsoft Excel.

    As Seen on Twitter

    As Seen on Google Plus

    Important Questions Being Asked on Reddit

    Thought of the Day

    "Excellence is never an accident. It is always the result of high intention, sincere effort, and intelligent execution." ~ Aristotle

    shared by @QuotesAristotle