The IRS released a package of proposed provisions that will apply to the recently enacted centralized audit regime that generally assesses and collects tax at the partnership level.
The IRS proposed changes to various rules affecting dependents, including changing its position on when taxpayers count as “childless” for purposes of the earned income tax credit.
The IRS spelled out the procedures same-sex married couples should use to recalculate the transfer-tax treatment for property transferred to spouses before the U.S. Supreme Court invalidated Section 3 of the Defense of Marriage Act.,
The transfer of 600 General Electric workers helps the Big Four firm grow its international expertise at a time when global tax strategy is growing in importance.
The IRS released its annual notice containing the 2017 inflation-adjusted amounts for the maximum vehicle values to determine the amount that is included in employees’ income for personal use of an employer-provided vehicle.
The IRS issued a notice that provides the requirements for a payee to make an election to not have the safe harbor for de minimis errors on information returns below certain amounts apply to a payer.
An LLC is treated by default as a disregarded entity, the Tax Court holds.
Bifurcation is delayed indefinitely, some entities are excepted, and the effective dates are delayed.
The annual marathon of forms, schedules, and worksheets is beginning once more. As CPAs and their staffs train and ready their equipment, they might add these reminders of what’s new and notable for 2016 returns.
The Tax Court finds a sufficient nexus between the Ponzi scheme theft loss suffered by an LLC and the value of the estate's interest in the LLC.
Hurricane and flooding prompt the relief measure.
Follow these recommendations for reducing or eliminating common tax penalties.
Proper allocation of tax carryovers is critical in the year one spouse dies.
Annette Nellen, director of San José State University's graduate tax program and a professor in the program, was named chair of the AICPA Tax Executive Committee.
Olympians win a tax break ... Dozens charged in IRS impersonation ring ... Voluntary offshore disclosure collections reach $10 billion
The IRS extended for one year its waiver of the eligibility rule that generally prevents taxpayers from using the automatic accounting method change procedures to change the treatment of the same item more than once within a five-year period.
Starting this year, FBARs have a new, April 15 due date, with extensions to Oct. 15.
The expiring provisions include tax incentives for individuals and businesses, as well as several energy provisions.
The Senate passed the 21st Century Cures Act, which, among other things, permits certain employers to offer health reimbursement arrangements to employees without running afoul of the Patient Protection and Affordable Care Act’s market reform provisions.
The IRS issued the 2017 standard mileage rates for determining the deductible costs for operating a vehicle for business, medical, charitable or moving purposes.