Sponsored by Drake Software | Vice President of Strategic Development John Sapp, CPA, briefly explains the Sec. 199A qualified business income (QBI) deduction safe harbor rule and Forms 8995 and 8995-A.
The IRS is expanding its relief from cancellation-of-debt income to students whose federal loans were discharged for certain legal reasons.
On the last day of 2019, the IRS issued the standard mileage rates for 2020 for business, charitable, medical, or moving expense purposes, as well as other deduction amounts.
If taxpayers disagree with an IRS audit, they have 30 days to prepare an IRS protest. Find out how to win at IRS Appeals.
A subsidiary fails to show that it received the primary benefit from its payment to an adviser incident to a merger.
CPA firms venture into the new decade of serving taxpayers.
The IRS places fresh emphasis on tax preparers’ responsibilities under the Gramm-Leach-Bliley Act safeguards rule.
The full tax liability had been paid by the extended due date.
Reporting of Subpart F and GILTI inclusions may rely on 'alternate information.'
Download and print this tax season reference highlighting dollar thresholds, tax tables, standard amounts, credits, and deductions.
The final regulations allow more time to make the election.
Payments to a pastor did not qualify to be excluded from income as a parsonage allowance or as nontaxable gifts.
Annette Nellen, Esq., CPA, CGMA, walks us through four recent decisions by the U.S. Tax Court to show how the precise application of a word or phrase can make a world of difference.
The IRS issued final regulations providing guidance on tax-favored investments in qualified opportunity zones (QOZs).
The consolidated appropriations bill passed by Congress makes many changes to retirement plan rules, repeals health care taxes, extends expired tax provisions, and provides tax relief for disaster victims.
The Fifth Circuit held that the “individual mandate” under Sec. 5000A, which imposes a “shared responsibility payment” on taxpayers who do not obtain health insurance that provides at least minimum essential coverage, is unconstitutional now that the payment amount has been reduced to zero.
FASB issued a standard that is designed to reduce cost and complexity in accounting for income taxes.
Does your business fall under the definition of a syndicate? Chris Hesse, chair of the AICPA’s Tax Executive Committee, reveals where the traps lie for business taxpayers and their CPA advisers.
The IRS issued proposed regulations on the Sec. 162(m) $1 million limit on executive compensation paid by certain publicly held corporations.
The IRS issued additional rules on the treatment of deductions for charitable contributions in lieu of state and local taxes, an area in which it has already issued final regulations and other guidance.