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	<title>Fairmark.com &#187; News</title>
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	<description>Taxes and investing in plain language</description>
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		<title>Trusted but Discredited</title>
		<link>http://fairmark.com/homebuyer-credit-disallowed/</link>
		<comments>http://fairmark.com/homebuyer-credit-disallowed/#comments</comments>
		<pubDate>Thu, 10 May 2012 12:37:12 +0000</pubDate>
		<dc:creator>Kaye Thomas</dc:creator>
				<category><![CDATA[Court Rulings]]></category>
		<category><![CDATA[Home Ownership]]></category>
		<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://fairmark.com/?p=1572</guid>
		<description><![CDATA[The first-time homebuyer credit was disallowed for a home purchased from a family trust.]]></description>
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		<title>IRS Loosens up on Local Lodging</title>
		<link>http://fairmark.com/irs-loosens-up-on-local-lodging/</link>
		<comments>http://fairmark.com/irs-loosens-up-on-local-lodging/#comments</comments>
		<pubDate>Fri, 04 May 2012 16:45:24 +0000</pubDate>
		<dc:creator>Kaye Thomas</dc:creator>
				<category><![CDATA[Business Taxation]]></category>
		<category><![CDATA[IRS Guidance]]></category>
		<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://fairmark.com/?p=1538</guid>
		<description><![CDATA[The IRS has issued proposed regulations that would make it easier to deduct &#8220;local lodging&#8221; costs &#8212; in other words, staying overnight when not away from home. The new rules provide a safe harbor for certain local lodging at a business meeting, conference, or other activity or function. Other local lodging expenses may be deductible [...]]]></description>
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		<title>Delay in Reporting Requirement for Options and Debt Instruments</title>
		<link>http://fairmark.com/delay-in-reporting-requirement-for-options-and-debt-instruments/</link>
		<comments>http://fairmark.com/delay-in-reporting-requirement-for-options-and-debt-instruments/#comments</comments>
		<pubDate>Thu, 03 May 2012 00:25:53 +0000</pubDate>
		<dc:creator>Kaye Thomas</dc:creator>
				<category><![CDATA[IRS Guidance]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[basis reporting]]></category>

		<guid isPermaLink="false">http://fairmark.com/?p=1556</guid>
		<description><![CDATA[The requirement for brokers to report the basis of financial instruments is being rolled out in three stages. Basis reporting for sales of stock took effect in 2011, the first year for mutual fund shares and dividend reinvestment plans is 2012, and basis reporting for options and debt instruments was set to begin in 2013. [...]]]></description>
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		<title>New Look at S Corp Payroll Tax</title>
		<link>http://fairmark.com/new-look-at-s-corp-payroll-tax/</link>
		<comments>http://fairmark.com/new-look-at-s-corp-payroll-tax/#comments</comments>
		<pubDate>Wed, 25 Apr 2012 18:41:44 +0000</pubDate>
		<dc:creator>Kaye Thomas</dc:creator>
				<category><![CDATA[Legislation]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[S corporations]]></category>

		<guid isPermaLink="false">http://fairmark.com/?p=1532</guid>
		<description><![CDATA[Owners of an S corporation can receive business profits in the form of wages, which are subject to Social Security and Medicare tax, or dividend distributions, which are not. Naturally they prefer the latter because of the lower tax cost. The IRS can challenge the tax treatment if wage payments are unreasonably low, particularly where [...]]]></description>
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		<title>Some Refunds Delayed by a Week</title>
		<link>http://fairmark.com/some-refunds-delayed-by-a-week/</link>
		<comments>http://fairmark.com/some-refunds-delayed-by-a-week/#comments</comments>
		<pubDate>Fri, 27 Jan 2012 22:03:45 +0000</pubDate>
		<dc:creator>Kaye Thomas</dc:creator>
				<category><![CDATA[IRS Guidance]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Tax Filing]]></category>

		<guid isPermaLink="false">http://fairmark.com/?p=1508</guid>
		<description><![CDATA[The IRS has announced some taxpayers will receive their refunds about a week later than originally projected. &#8220;The one-week delay for some refunds relates to fine-tuning IRS systems to adjust for new safeguards put in place this tax season to provide stronger protection against refund fraud,&#8221; the agency explained.]]></description>
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		<title>Erroneous Disallowance of Homebuyer Credit</title>
		<link>http://fairmark.com/erroneous-disallowance-of-homebuyer-credit/</link>
		<comments>http://fairmark.com/erroneous-disallowance-of-homebuyer-credit/#comments</comments>
		<pubDate>Wed, 17 Aug 2011 15:47:12 +0000</pubDate>
		<dc:creator>Kaye Thomas</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[homebuyer credit]]></category>

		<guid isPermaLink="false">http://fairmark.com/?p=1468</guid>
		<description><![CDATA[A report in Tax Notes indicates numerous taxpayers who claimed the original version of the first-time homebuyer credit have received (or will receive) erroneous letters telling them they don&#8217;t qualify for the credit. The IRS is aware of the problem and working on a correction.]]></description>
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		<title>IRS Eases Innocent Spouse Rule</title>
		<link>http://fairmark.com/irs-eases-innocent-spouse-rule/</link>
		<comments>http://fairmark.com/irs-eases-innocent-spouse-rule/#comments</comments>
		<pubDate>Wed, 27 Jul 2011 15:05:05 +0000</pubDate>
		<dc:creator>Kaye Thomas</dc:creator>
				<category><![CDATA[General Taxation]]></category>
		<category><![CDATA[IRS Guidance]]></category>
		<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://fairmark.com/?p=1465</guid>
		<description><![CDATA[Despite winning a number of court victories upholding its position, the IRS has decided to change that position and allow requests for equitable relief under the innocent spouse rules more than two years after the start of collection action. Originally designed to require prompt action by the taxpayer while evidence was still fresh, the two-year [...]]]></description>
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		<title>Senators Take Swipe at Stock Options</title>
		<link>http://fairmark.com/senators-take-swipe-at-stock-options/</link>
		<comments>http://fairmark.com/senators-take-swipe-at-stock-options/#comments</comments>
		<pubDate>Wed, 20 Jul 2011 20:07:43 +0000</pubDate>
		<dc:creator>Kaye Thomas</dc:creator>
				<category><![CDATA[Equity Compensation]]></category>
		<category><![CDATA[Legislation]]></category>
		<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://fairmark.com/?p=1461</guid>
		<description><![CDATA[Senators Levin (D. Mich) and Brown (D. Ohio) have introduced the Ending Excessive Corporate Deductions for Stock Options Act, legislation that would limit the amount a corporation can deduct in connection with the exercise of compensatory stock options to the amount shown as an expense for the options in its financial statements. Similar proposals have been [...]]]></description>
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		<title>Burdensome Reporting Rule Repealed</title>
		<link>http://fairmark.com/burdensome-reporting-rule-repealed/</link>
		<comments>http://fairmark.com/burdensome-reporting-rule-repealed/#comments</comments>
		<pubDate>Fri, 15 Apr 2011 14:45:56 +0000</pubDate>
		<dc:creator>Kaye Thomas</dc:creator>
				<category><![CDATA[Legislation]]></category>
		<category><![CDATA[News]]></category>

		<guid isPermaLink="false">http://fairmark.com/?p=1443</guid>
		<description><![CDATA[A rule that would have imposed burdensome new reporting requirements on businesses has been repealed. The rule was designed to clamp down on tax cheats by requiring businesses to file Form 1099 whenever they pay more than $600 to a single vendor for goods and services. It quickly became apparent that this would be a [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Shutdown Averted; Life Goes On</title>
		<link>http://fairmark.com/tax-rules-for-shutdown-you-pay-irs-doesnt/</link>
		<comments>http://fairmark.com/tax-rules-for-shutdown-you-pay-irs-doesnt/#comments</comments>
		<pubDate>Sat, 09 Apr 2011 15:45:59 +0000</pubDate>
		<dc:creator>Kaye Thomas</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[Tax Filing]]></category>

		<guid isPermaLink="false">http://fairmark.com/?p=1433</guid>
		<description><![CDATA[If you were sweating it out over whether your tax refund would be delayed over a government shutdown, it appears you can rest easy. In an eleventh-hour deal, government funding will continue through the end of September. A stopgap measure will provide funding until an actual vote on the deal, expected within a few days. [...]]]></description>
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