Individual income taxation

TOPICS / TAX

March 10, 2015

Long-haul truck driver has no tax home

A long-haul truck driver who spent 358 days on the road during 2009 did not have a tax home that would permit him to deduct his travel expenses as unreimbursed business expenses.

March 3, 2015

IRS proposes new slot machine tax rules

Under the safe harbor, gamblers complying with the rules would be permitted to net gains and losses from all slot machine play on the same calendar day at one gambling establishment.

March 1, 2015

Dependency rules can trip up taxpayers

A recent Tax Court case illustrates the problems taxpayers can face if they do not strictly adhere to the rules regarding dependents.

February 25, 2015

Taxpayers who already filed 2014 returns using incorrect Forms 1095-A won’t have to pay more tax

The IRS announced that about 800,000 taxpayers (20% of the people receiving the form) had received incorrect Forms 1095-A, Health Insurance Marketplace Statement, for 2014.

February 20, 2015

Thousands receive incorrect health care tax forms; signup period extended

The government says it sent thousands of incorrect Forms 1095-A to taxpayers who signed up for health insurance on the HealthCare.gov website. It is working to correct those forms by early March.

February 10, 2015

Most outstanding claims for FICA tax refunds will be denied, IRS announces

The IRS announced that it would disallow all claims for refund that were filed for Federal Insurance Contributions Act taxes withheld on severance payments in light of the Supreme Court’s decision in Quality Stores, Inc., that those payments were subject to tax.

February 6, 2015

IRS issues revised 2014 and 2015 passenger automobile depreciation limits

The IRS issued new figures for depreciation deductions allowed for business use of passenger automobiles for 2014 to take into account the 50% additional depreciation that can be taken for vehicles during the 2014 tax year.

February 6, 2015

2015’s dirty dozen tax scams

The IRS released its “dirty dozen” list of top tax scams for 2015, starting with phone scams and ending with frivolous tax arguments.

February 1, 2015

Kiddie tax complexity grows

Complexity begins with the option for parents to “simplify” matters by allowing them to include the child’s income on the parents’ own return instead of filing a separate return for the child.

February 1, 2015

Gross income omissions and the 6-year tax assessment period

How taxpayers can guard against doubling the statute-of-limitation period for the IRS to assess tax.

February 1, 2015

Expired tax provisions extended for 2014

Congress acted at the end of its lame-duck session to retroactively extend a host of expired tax provisions affecting the 2015 filing season.

February 1, 2015

Affiliated group with QPSC allowed graduated tax rates

Regulations do not support the IRS’s “two baskets” approach of separating qualified personal service corporation income, the Tax Court holds.

January 26, 2015

Taxpayers get penalty relief for incorrect premium tax credit advance payments

The IRS announced penalty relief for taxpayers who find they owe tax when they reconcile the advance payments of the premium tax credit they received with the amount they were entitled to when they file their 2014 tax returns.

January 20, 2015

Details of the president’s State of the Union tax proposals

The president aims to increase capital gains taxes for higher-income taxpayers in order to pay for various education, child care, and retirement benefits for middle-income taxpayers.

January 8, 2015

Government to reach out, provide resources to ease health care tax filing burden

The government announced today that, in the next few weeks, it will introduce “consumer-friendly” resources for taxpayers to use to comply with the new rules.

January 5, 2015

Getting into the swing of tax season

The 2015 tax filing season could be delayed and features several new health carerelated provisions for 2014 returns. Plus: The JofA’s annual Quick Guide, a printable card that contains dollar thresholds, tax tables, standard amounts, credits, and deductions to keep at your fingertips during tax season.

January 5, 2015