In this Q&A, AICPA policy experts discuss wide-ranging implementation challenges and members’ role in advocating for guidance and technical corrections.
Individual income taxation
A taxpayer established that she never intended to be the primary obligor on the loan.
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.
The IRS issued Notice 2018-14 to provide more guidance on the withholding rules that were changed by P.L. 115-97, known as the Tax Cuts and Jobs Act.
The IRS issued new tax withholding tables for 2018 to be used to implement the changes to the tax law enacted last month.
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.
New rates are in effect through September 2018.
The definition of a 'separate return' subject to a Sec. 6013(b) election and its limitations extends only to married-filing-separately status, the Tax Court holds.
The tax reform legislation that Congress will consider this week contains many provisions affecting individuals—and many changes from both the House and Senate bills.
The House of Representatives reapproved tax reform legislation on Wednesday, sending the bill to President Donald Trump for his signature.
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 IRS issued the standard mileage rates for business, medical and moving expenses incurred in 2018.
In anticipation of the possible elimination or reduction of the state and local income tax deduction, some are suggesting that taxpayers should prepay their 2018 state taxes in 2017. Here’s why that probably won’t work.
In the early hours of Saturday morning, the U.S. Senate passed its version of the Tax Cuts and Jobs Act bill by a vote of 51–49.
The taxpayer is unable to persuade the Tax Court that the grace period on a loan from his Sec. 401(k) plan extended into the next tax year.
A state exchange's failure to revise the couple's health insurance advance premium subsidy was not grounds to avoid its repayment.
The Social Security Administration said that the maximum amount of wages subject to the 6.2% Social Security tax in 2018 will rise a little more than 1%, after a much larger increase last year.
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.