Individual income taxation

TOPICS / TAX

May 7, 2018

Future-proof your tax practice by adding planning services

Consumers are seeking a primary point of contact to address the full scope of their financial needs.

April 26, 2018

IRS gives taxpayers relief from erroneous HSA contributions

The IRS announced it will allow taxpayers to treat $6,900 as the 2018 limit for deductible contributions to HSAs for individuals with family coverage.

March 1, 2018

IRS releases updated withholding calculator and 2018 Form W-4

The IRS has completed updating its online withholding calculator that individual taxpayers can use to determine how many withholding allowances they should claim for 2018.

March 1, 2018

Donation-based crowdfunding and nontaxable gifts

Amounts received from online funding appeals for charitable causes or individual relief may qualify for exclusion from taxable income.

March 1, 2018

The AICPA and the ongoing tax reform process

AICPA tax policy experts discuss advocacy efforts related to the recent tax overhaul bill and the role member input will have on its implementation.

March 1, 2018

A portion of a lump-sum Social Security disability payment ruled includible in gross income

The Tax Court holds that a Sec. 86 election was not made and would not have reduced the tax liability.

March 1, 2018

U.K. divorce decree payment was not alimony

Payment to the taxpayer’s ex-wife was not alimony, as it would not have terminated upon her death under English law.

March 1, 2018

Court grants IRS summons of Coinbase records

The Service’s narrowed request seeking unreported virtual currency transactions was made in ‘good faith.’

March 1, 2018

Aiding employees after a disaster via Sec. 139

This little-known provision allows payments to be excludable from employees’ income and deductible by the employer.

February 9, 2018

Bipartisan Budget Act contains several tax provisions

The Bipartisan Budget Act of 2018 has many tax provisions, including retroactive extensions of a number of tax credits.

February 9, 2018

How tax reform will impact individual taxpayers

This podcast offers answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.

February 7, 2018

The AICPA and the ongoing tax reform process

In this Q&A, AICPA policy experts discuss wide-ranging implementation challenges and members’ role in advocating for guidance and technical corrections.

February 1, 2018

Congress enacts tax reform

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.

February 1, 2018

COD income not includible due to lack of a bona fide debt

A taxpayer established that she never intended to be the primary obligor on the loan.

January 29, 2018

IRS issues more guidance on withholding rules for new tax law

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.

January 11, 2018

New tax withholding tables are issued

The IRS issued new tax withholding tables for 2018 to be used to implement the changes to the tax law enacted last month.

January 4, 2018

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.

January 1, 2018

IRS updates special per-diem rates for business travel

New rates are in effect through September 2018.

January 1, 2018

Erroneously claimed single status does not foreclose switching to a joint return

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.

December 20, 2017

What the tax reform bill means for individuals

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.

FROM THIS MONTH'S ISSUE

How a CPA beat burnout after strokes, depression

Randy Crabtree, CPA, suffered two strokes in four days and struggled with his mental health for years before he learned to recognize, address, and prevent chronic stress. Learn from his insights on how CPAs can avoid professional burnout.