NEWS

Bonus depreciation safe-harbor rules for vehicles issued

The IRS issued a safe-harbor procedure that taxpayers may follow for determining the deduction for depreciating passenger vehicles when they are eligible for 100% bonus depreciation but are also subject to the Sec. 280F limits on deductions for luxury automobiles.

Finding value in revenue recognition implementation

The challenges associated with FASB’s new revenue recognition standard have been substantial for many companies, but at least they’re gaining valuable data and process improvements as a result of the implementation.

IRS issues updates on post-shutdown activities

The IRS posted guidance for the public explaining how it will be operating now that the shutdown has ended, to catch up on its backlog in audits, collections, tax return processing, and Tax Court cases.

News quiz: Uncertainty looms as year begins

The partial government shutdown and uncertainty about its effects dominated the news as 2019 began. See how much you remember from recent news reports with this short quiz.

IRS announces Free File launch

The IRS announced that its Free File program, which provides free electronic filing options to moderate-income taxpayers, opened Jan. 11 and will operate through Oct. 15.

FEATURE

Tackling TCJA changes this tax season

Return preparers must be ready for how the Tax Cuts and Jobs Act has modified many common features of individual and business returns.

PODCAST

Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.