In Field Attorney Advice 20145001F, the IRS concluded that the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), P.L. 97-248, does not apply to employment tax or worker classification examinations; therefore, agents do not need to follow TEFRA’s partnership unified audit provisions procedures in examinations of employment tax deficiencies or worker classification issues for persons otherwise subject to TEFRA procedures with respect to income tax deficiencies.
FEATURE
Maximizing the higher education tax credits
A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.
SPONSORED REPORT
Solving the lease accounting challenge
The challenges of the new lease accounting standard have been pervasive to say the least. In this free, independently-written report, you'll learn effective adoption strategies as well as resources for easing the transition to the new standard.
From The Tax Adviser
From CPA Insider