Sweeping new IRS "repair regulations" impact most businesses
The IRS has released much-anticipated temporary and proposed regulations on the capitalization of costs incurred for tangible property. They impact how virtually any business writes off costs that rep...

Congress begins work on payroll tax extension as White House unveils new proposals
The fate of the employee-side payroll tax cut along with a host of tax extenders and other expired provisions could be decided in coming weeks. A conference committee of House and Senate members is ne...

IRS launches third version of voluntary offshore disclosure program
The IRS reopened its offshore voluntary disclosure program in early 2012 in response to what the government described as strong interest among taxpayers. The reopened program, the third of its type in...

FAQ: What tax breaks come with raising a child?
Taxpayers with children should be aware of the numerous tax breaks for which they may qualify. Among them are: the dependency exemption, child tax credit, child care credit, and adoption credit. As th...

How Do I... Receive my tax refund that the IRS used to offset my spouse's debt?
The Treasury Department is authorized to offset a taxpayer’s tax refund to satisfy certain debts. A spouse who believes that his or her portion of the refund should not be used to offset the deb...

February 2012 tax compliance calendar
As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important tax reporting and filing data for individuals...

IRS offers fixes to new 100 percent bonus depreciation
Taxpayers that place new business assets other than real property in service through 2012 may claim a "bonus" depreciation deduction. Although the bonus depreciation deduction is generally equal to 50...

Next year's tax return starts with good recordkeeping
As the 2011 tax filing season comes to an end, now is a good time to begin thinking about next year's returns. While it may seem early to be preparing for 2012, taking some time now to review your rec...

Tax law changes for 2011 impact individuals and businesses
Legislation enacted during the past few years, including the Small Business Jobs Act of 2010 and the more recently enacted Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2...

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DiMarco, Abiusi & Pascarella CPAs, P.C. is a regional upstate New York accounting firm with offices in Syracuse and Ithaca, New York.  The Firm was founded in 1956 when Alfred DiMarco and four other accountants left their accounting firm located in New York City and relocated to Syracuse to form the Company.  Over the past five decades, our Firm has grown as has the diversity of our accounting, auditing, tax and consulting expertise as our client base has expanded.

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