IRS practice & procedure

TOPICS / TAX

September 1, 2000

Valuing Closely Held Stock for Estate and Gift Tax Purposes

PAs who work with estates know that, if a decedent owned stock of a closely held business at his or her death, the value of the stock generally must be determined if an estate tax return will be filed. The value for such purposes is the date-of-death fair market value

March 1, 2000

Public Disclosure Requirements for Public Charities

lthough many public charities, as exempt organizations, technically have been subject to public disclosure requirements for a long time, Congress recently changed the law to make this information much more accessible to the public. An exempt entity must disclose and make available two sets of documents: Its exemption applications, all

July 1, 1999

What a PEO Can Do for You

EXECUTIVE SUMMARY MORE THAN EVER BEFORE, BOTTOM-LINE-CONSCIOUS companies are outsourcing HR functions by making use of professional employer organizations. PEOs perform a wide variety of tasks ranging from payroll management and employee benefit design and administration to tax filings and compliance with state and federal workplace legislation. GIVEN THE MYRIAD

June 1, 1998

The banking industry is taking action to reduce year 2000 problems associated with …

Checking Vendors for Y2K Compliance The banking industry, which has taken action to reduce its own year 2000 (Y2K) risks, now requires its vendors to do the same. Bank regulatory agencies issued guidance on how banks can ensure that service providers and software vendors are prepared for computer-related problems or

May 1, 1998

Surviving An Employment Tax Audit

In recent years the IRS has examined closely the status of workers classified as independent contractors and whether they should instead be considered employees. The results of these examinations: Hundreds of thousands of workers were reclassified as employees and their employers were assessed hundreds of millions of additional tax dollars

April 1, 1998

Derivatives: Time to Take Sides

In the classic Japanese film Seven Samurai , seven soldiers defend a village against a much larger force and refuse to back down. As large businesses, banks, Fed chairman Alan Greenspan and both houses of Congress continue to take ever-stronger steps to limit the power of the FASB, its seven

April 1, 1997

What to expect

What to expect from the IRS this year. From The Tax Adviser: Examining the 1997 Examination Program T he Internal Revenue Service, like most other government agencies, has to tighten its budget while trying to achieve more goals and objectives. CPAs and their taxpayer clients can get an idea of