IRS Emails

The facts and circumstances at issue here surrounding the testimony before Congress regarding the lost IRS Emails are of great concern to me. I believe this matter to be every bit as serious as the Watergate scandal. I’m convinced we…
Chartered Global Management Accountant

Cook Awarded CGMA Designation

Birmingham, AL (June 28, 2014) – Gregory J. Cook, owner of Cook & Co. Tax Advisors, has been awarded the Chartered Global Management Accountant (CGMA) designation from the American Institute of CPAs and the Chartered Institute of Management Accountants. The…

Florida Man Owes IRS 150% Penalty on Swiss Account

A federal jury found an 87-year-old Florida man owes the U.S. government civil penalties amounting to 150 percent of the value of his Swiss bank account, the biggest such penalty by percentage on record, his lawyers said. http://www.bloomberg.com/news/2014-05-28/florida-man-87-owes-150-of-swiss-account-jury-says.html  

Senate Republicans Block Tax Cuts

Senate Republicans blocked a package of more than $80 billion in tax cuts. The bill would have revived more than 50 tax breaks that lapsed Dec. 31 and would have extended them through 2015. I hope and pray the good…

GOVERNOR’S TAXES

GOVERNOR’S TAXES – Alabama Governor Robert Bentley’s tax form shows an adjusted annual income of $373,000 in documents just mailed to the IRS. What makes that unusual is Bentley refuses to take a salary until unemployment falls to 5.2 percent…
heartbleed test result

Security Notice

NONE OF OUR SERVERS OR THOSE OF OUR VENDORS WERE AFFECTED BY “HEARTBLEED”. You’ve probably heard about the Security Alert regarding “HEARTBLEED”, the code exploit that manipulates OPENSSL. Heartbleed is a catastrophic bug in OpenSSL, a software library of great…
schedule

April Is Here!

This is a snapshot of our schedule this past Saturday. No evening appointments on Saturdays, but as you can see, we had no openings. If you have not yet scheduled an appointment, please don’t delay. These last few weeks are…

Shared Responsibility Payment

Starting January 2014, you and your family must either have health insurance coverage throughout the year, qualify for an exemption from coverage, or make a payment when you file your 2014 federal income tax return in 2015. Many people already…
1040

Health Insurance on W-2

You may be wondering if you have to report the value of your employer-sponsored health insurance coverage, which may appear on your W-2, Wage and Tax Statement when you file your 2013 federal income tax return. The health care law…
new envelope

News From Cook & Co.

Since launching our secure internet portal two years ago, more and more clients have elected to receive their “keep copies” of tax returns electronically. As a result, we are ordering the over-sized big red envelopes by the hundreds now instead…

Health Insurance Premium Tax Credit

Starting in 2014, if you get your health insurance coverage through the Health Insurance Marketplace, you may be eligible for the premium tax credit. This tax credit can help make purchasing health insurance coverage more affordable for people with moderate…

Currency Exchange Rates

To convert from foreign currency to U.S. dollars, divide the foreign currency amount by the applicable yearly average exchange rate in the table below. To convert from U.S. dollars to foreign currency, multiply the U.S. dollar amount by the applicable…