New Penalties on 1099s Affect Non-Profit Organizations

In July 2015, President Obama signed into law the Trade Preferences Extension Act of 2015. Included on the bill was an important provision that affects non-profit organizations as well as for-profit businesses and individuals.The Act included a substantial increase to … read more

Quickbooks Tips for Issuing 1099’s

As a business owner, one of your numerous responsibilities is to issue 1099’s to any eligible payee prior to January 31st of the following year.  On the tax return you file, there is even a new question you’re required to … read more

Patient Protection and Affordable Care Act – New Taxes? Part I

Now that the Supreme Court has ruled that the Health Care Act (now known as the Affordable Care Act) has been declared constitutional except for the part that punishes states by eliminating existing Medicaid funding, we can begin to look … read more

IRS Top 10 Tax-Time Tips to Smooth Tax Filing

The IRS recently sent out its first “IRS Tax Tip” for 2012. Here’s the Internal Revenue Service’s top 10 tips to ensure a smooth tax-filing: 1. Gather your records Round up any documents you’ll need when filing your taxes: receipts, … read more

Differentiating Independent Contractors from Employees

Worker classification is an important determination that can greatly affect the responsibilities imposed upon a business. The distinction between an independent contractor and an employee can be complicated, but there are a number of established tests that can help a … read more

Expanded Tax Benefit to Health Professionals Working in Under-served Areas

The IRS has announced that under the Affordable Care Act, health care professionals who received student loan relief under state programs that reward those who work in under-served communities may qualify for refunds on their 2009 federal income tax returns … read more

Let’s Play the Matching Game

My kids were always skilled at matching games…you know, those games where there are grids of cards with cartoon characters turned upside down and you need to match up the two hidden pictures of the same character.  Well, the IRS … read more

Get Organized for Tax Time

The holidays are over and as you put away the decorations you uncover an unruly pile of paper accumulated over the past 12-months that you will need for your tax return.  “Oh, how I wish I had kept better records … read more

IRS Section 7216

Many clients often complain that their CPAs never call them, are not pro-active, or do not ever suggest value added ideas. Well the CPA community finally has a good excuse! Kudos to our friends at the IRS and Treasury who … read more


There is nothing more complex than the world of taxes. We know this and yet we chose careers where we face these issues everyday. We get questions day in and day out about new tax laws, forms and news items and how they affect everyday people and businesses. Well, here at Henry & Horne we have set out to do what we do best; help everyday people understand what is going on in the world of state, local, federal, estate and international taxation. We will provide these weekly posts and we encourage you to give us feedback on those posts as well as letting us know what else you would like to know more about. Welcome to "Tax Insights." We hope you find this blog informative and worthy of your time.

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