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The IRS issued proposed rules that provide maximum automobile values for the cents-per-mile and fleet-average valuation rules used to determine the amount to include in an employee’s gross income for personal use of an employer-provided vehicle.
Some taxpayers who paid 2018 underpayment penalties will receive refund checks because the penalties will be automatically waived for those who qualify, the IRS announced.
Discrepancies between the amount of alimony deducted by payers and reported as income by its recipients increased by 38% in six years, the Treasury Inspector General for Tax Administration reported.
The Internal Revenue Service proposed regulations to clarify how to classify transactions involving digital content and cloud computing.
The IRS issued updated procedures for third-party contacts to reflect changes enacted in the recent Taxpayer First Act, requiring the IRS to notify taxpayers at least 45 days before it contacts a third party to determine or collect a tax.
The U.S. Supreme Court’s decision last year in South Dakota v. Wayfair prompted many states to enact new sales tax legislation or promulgate new regulations based on economic nexus. Find out how to help your clients comply.
New Jersey's payments to a corporate taxpayer were intended as an inducement to locate in the state.
Estate planning should account for a client’s digital assets, which often have significant financial or sentimental value.
The tax consequences under Sec. 3511 are spelled out for employee leasing and similar arrangements.
Optimal treatment under Sec. 199A eludes any one-size-fits-all solution.
IRS regulations permissibly established the exclusive means of proving timely filing, the appeals court holds.
LB&I launches data analytics compliance program ... Vehicle depreciation limits for 2019 ... HSA contribution limits for 2020
The IRS will permit taxpayers to change their bonus depreciation treatment for property acquired after Sept. 27, 2017, and placed in service during a tax year that includes Sept. 28, 2017.
The IRS is permitting certain partnerships that timely filed their tax returns for the 2018 tax year an extension of time to file superseding returns and Schedules K-1 for their partners.
The IRS has begun sending what it calls “educational letters” to taxpayers it has identified as not reporting virtual currency transactions or reporting them incorrectly.
The IRS added 14 types of preventive care items that qualify to be provided under a high-deductible health plan to treat chronic medical conditions.
As part of its effort to reduce identity theft, the IRS issued final rules permitting employers to provide truncated taxpayer identification numbers on Forms W-2, Wage and Tax Statement, they provide to employees.
The bill establishes an independent appeals office and requires the IRS to develop a customer service strategy. A controversial provision codifying the Free File program was dropped from the bill.
Finding the “sweet spot” to maximize the qualified business income deduction may involve adjusting a business’s workforce.
A district court denies a taxpayer's refund claim.
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In focus: PayrollProviding payroll services that comply with ever-changing regulations and meet evolving employee and employer demands is no easy task. Paychex's Tom Hammond discusses common payroll considerations for CPA firms.
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A closer look at threats to CPA licensureLegislation in states around the country could put CPA licensure in danger. This episode examines what practitioners need to know to help ensure the profession is protected.