IRS Plans One Million Audits in 2015

Americans’ 2015 tax returns are due in to the Internal Revenue Service next Wednesday, April 15, so it seems timely to advise that the IRS earlier this month announced that they plan to undertake 1 million audits of tax returns.  IRS Commissioner John Koskinen made the announcement in a speech to the National Press Club…

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SBA Reviewing Franchise Loan Eligibility

The Small Business Administration, which last year alone guaranteed some $6 Billion in loans to franchisees, is reviewing their current franchise eligibility procedures with an eye on improving the process.  The SBA Loan Guarantee program has been criticized by some members of Congress who do not believe the government should be in the business of…

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White House Planning “Worker Summit” for Fall

As if the administration’s egregious actions regarding minimum wages, union elections, paid sick leave and joint employer rules weren’t enough mischief, the President, as he vetoed the “ambush election” fix (above), reiterated his intention to host a workers summit later this year, ostensibly to rally organized labor and other activists for more pro-union initiatives and…

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IFA Injunction Tossed Out in Seattle Challenge

Speaking of lawsuits and court decisions, the lawsuit initiated last year by the International Franchise Association (IFA) in the wake of Seattle passing a new $15 minimum wage law suffered a major defeat when the US District Court in Seattle rejected all of the IFA arguments and refused to enjoin the law, which will take…

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Delay Sought In Small Business Insurance Requirement

Major small business representatives formally requested that the Department of Health & Human Services (HHS) delay moving businesses with between 51 and 99 employees into the small group market, subjecting them to additional benefit and premium rating requirements.  For employers with between 51 and 99 employees, the law contained a provision allowing them 2 full…

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US House Passes Permanent Section 179 Expensing Bill

It was one of the so-called “tax extenders” that have been allowed to expire in each of the past two years, only to be retroactively reinstated.  At long last, the US House has moved the issue forward again and passed legislation that will make the accelerated and bonus depreciation deductions permanent.  The legislation, known as…

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Is Tax Cutting Getting Popular?

As state legislatures around the country begin their 2015 sessions in earnest, we couldn‘t help note that several are now looking at reducing tax burdens and making more of an effort to “live within their means”.  In his State of the State address, New York Governor Andrew Cuomo highlighted his “2015 Opportunity Agenda”, which calls…

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More on Minimum Wage

In the same vein, New York Governor Andrew Cuomo will be pushing to increase the (recently increased) minimum wage for New York City to $11.50 and the rest of the state to $10.50/hour by the end of next year.  The minimum in New York was just raised in 2013 from $7.25 to $8.75 and will…

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Mid-Atlantic District Meeting

With many of the provisions of the Affordable Care Act taking effect this year, we want to bring you as much up-to-date information as possible and will do precisely that at our Mid-Atlantic District meeting on Thursday, February 12 at the Doubletree by Hilton Newark Airport Hotel.  The meeting will feature Attorney Pat McGovern, an…

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CFA Lobby Day Forum

We also want to remind our subscribers that the CFA Day Forum will be held at the Omni Shoreham Hotel in Washington, DC on March 24 – 25, 2015.  This annual event is an exceptional opportunity for franchise owners from around the country to meet with and educate members of Congress on their concerns as…

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