The Bipartisan Budget Act of 2018 has many tax provisions, including retroactive extensions of a number of tax credits.
In this Q&A, AICPA policy experts discuss wide-ranging implementation challenges and members’ role in advocating for guidance and technical corrections.
A CPA needs to detect a client’s nonpayment early and devise a plan for paying the back taxes.
Congress enacted tax reform legislation in December that will affect all taxpayers. Changes include new tax rates, modified credits and deductions, and a host of other amendments.
A taxpayer was unable to convince the Tax Court that his gambling activity had a profit motive.
With fewer new regulations and laws to reckon with, CPAs may find the 2018 tax season a good time to review their own procedures. Plus: Our annual quick guide, a PDF tax season reference highlighting dollar thresholds, tax tables, standard amounts, credits, and deductions.
Since brokering loans is not a “real property trade or business,” a taxpayer was subject to the passive activity loss rules of Sec. 469.
The tax reform bill that Congress is expected to vote on this week contains numerous changes that will affect businesses large and small.
The Senate voted early today in favor of the Tax Cuts and Jobs Act, H.R. 1, which the House of Representatives had approved Tuesday.
The version of the tax reform bill passed by the Senate Finance Committee holds several more changes affecting both individuals and businesses.
The U.S. House of Representatives passed its tax reform bill, on a 227–205 vote.
The revised chairman’s mark of the Senate tax reform bill contains many significant changes to the proposed legislation.
Tax reform expert Tony Nitti discusses the latest developments affecting CPAs.
The House tax reform bill contains a large number of proposed changes that would affect businesses.
The Tax Cuts and Jobs Act released by the House Ways and Means Committee incorporates many of the provisions listed in the Republicans’ September tax reform framework while providing new details.
A taxpayer establishes he was in the trade or business of making personal loans.
Republican leadership released a tax reform framework that calls for fewer individual tax brackets, a lower corporate tax rate, and elimination of many tax deductions.
Financial institutions could benefit from new regulations that make it easier for taxpayers to take the research credit for the costs of developing software.
Interim guidance addresses the time and manner of making the election.
Despite making a few payments and performing incidental tasks and errands for the business, a man is held not responsible for its unpaid payroll taxes.