The Internal Revenue Service recently announced that more than one million business taxpayers have electronically filed tax returns so far this year. Corporate e-filed returns have increased by nearly 50 percent compared to this period last year.
To date, the IRS has processed more than 200,000 business returns, about 50,000 of which were returns for corporations. More than 410,000 corporate taxpayers have e-filed returns. Continue Reading IRS E-File for business tops one million returns
Taxpayers are creative when it comes to explaining why they haven’t filed their income tax returns.
According to a survey commissioned by H&R Block, more than half said they are too busy, too scared or too good at coming up with another excuse. Continue Reading The dog ate my return —really not a good excuse
The Wells Fargo/Gallup Small Business Index dropped four points during the first quarter of 2007 to 110, compared to a record high of 114 during the fourth quarter of 2006.
The index tracks six measures (financial situation, cash flow, revenues, capital allocation, job hiring and credit availability) for current and future expectations. Continue Reading Small business owner optimism remains high
5Star Bank is moving its headquarters to Colorado Springs from Alexandria, Va.
It’s also trying to shed its image as just a “military” institution.
The bank is part of Armed Forces Benefits Association, which was established in 1947. Membership in AFBA is available to all members of the military, Department of Defense, Department of Homeland Security and other federal employees, military contractors, state and local employees, and their families. Continue Reading 5Star Bank moving HQ from Virginia to Springs
Wells Fargo & Co. is offering online banking services for people who are blind or visually impaired.
Wellsfargo.com is the only financial institution Web site that is certified by the National Federation of the Blind. Other organizations that have been certified include Hewlett-Packard and the U.S. Social Security Administration. Continue Reading Wells Fargo’s Web site certified for use by blind
The Internal Revenue Service has announced the 2006 Dirty Dozen, its annual tally of notorious tax scams, along with an alert to taxpayers to watch out for schemes that promise to reduce or eliminate taxes.
“When it comes to taxes, everyone has to pay their fair share,” said IRS Commissioner Mark W. Everson. “I urge taxpayers not to be taken in by hucksters who promise to lower or eliminate taxes. Getting caught up in the Dirty Dozen or similar schemes can lead to big headaches.” Continue Reading Taxpayers should avoid falling prey to Dirty Dozen
The Internal Revenue Service is encouraging business taxpayers, associations and other interested parties to submit topics for resolution involving a controversy, a dispute or an unnecessary burden on taxpayers to the Industry Issue Resolution Program.
The objective of the IIR program is to resolve business tax issues common to significant numbers of taxpayers through new and improved guidance. Continue Reading IRS seeking new issues for resolution program
Vectra Bank Colorado and Amegy Bank of Texas have opened a regional energy banking office in Denver.
Both banks are affiliates of Zions Bancorporation.
The office will provide energy banking services such as lending, treasury management, commodity risk management and trust management for oil, gas and other mineral properties, as well as investment and international banking services. Continue Reading Vectra, Amegy set sights on the energy business
Compass Bank has been purchased by Spanish bank Banco Bilbao Vizcaya Argentaria S.A as part of a $9.6 billion cash and stock deal.
The transaction is expected to close during the fourth-quarter of this year. Continue Reading Compass Bank bought by Banco Bilbao for $9.6B
An initiative has been launched that would make a company liable for any tax costs associated with backdated and misplaced stock options that rank-and-file employees might not have been aware of.
Internal Revenue Service Commissioner Mark W. Everson said that the practice of the backdating, which primarily benefited corporate executives and insiders, is widespread and that the initiative would exclude executives and insiders. Continue Reading Companies have option to pay employee penalty