PATH Act enhancements make the credit more attractive to a wider range of taxpayers.
Purported loans to a startup are ruled equity; a worthless debt claim is held inapplicable.
A business can avert potential disasters by engaging an external review of its sales and use tax management and compliance responsibilities.
The IRS announced that it would grant “eligible taxpayers” who are affected by this week’s winter storm on the East Coast extra time to file their requests for filing extensions.
Changes to 15-year and bonus depreciation rules and Sec. 179 expensing may deliver tax savings to business clients.
A self-imposed loan restriction to pay salaries does not encumber funds owed to the government.
The expiring provisions include tax incentives for individuals and businesses, as well as several energy provisions.
Print out this quick guide PDF for use during tax season, and look for our quick guide for individual taxpayers in the January 2017 issue.
Know the tax and other requirements for this option to manage risk.
The Tax Court rejects the IRS's argument that a third-party facilitator never assumed ownership under a benefits-and-burdens test.
The Tax Court is unwilling to restrict the 2-year amortization under Sec. 167(h) to owners of mineral interests.
Tenants can avoid recognizing income currently by taking advantage of a safe harbor under Sec. 110.
The IRS issued final regulations requiring the ultimate parent entity of a multinational enterprise group with revenue of $850 million or more in the preceding accounting period to file Form 8975, Country-by-Country Report.
The independent-investor test is applied to a corporation that mischaracterized dividends as compensation.
The growth of cloud technology means that what used to be clearly the sale of tangible personal property is now digital and challenging to classify for sales and use tax purposes.
Some tax breaks are extended for two years, some for five, and a few are made permanent in Congress’s annual year-end extenders legislation. (Plus: An updated version of the JofA’s annual quick guide PDF that includes changes related to the legislation.)
Despite another year of uncertainty about congressional passage of retroactive “extender” provisions, CPAs’ tax season can benefit from these tips and resources.
Download and print this quick guide PDF for use during tax season and look for our quick guide for individual taxpayers in the January 2016 issue.
Businesses may need CPAs’ help in protecting against and remedying tax-related identity theft.
CPAs should understand how to handle startup and organization costs and, especially, how they are treated differently for book and tax purposes.