Tax news and information - Journal of Accountancy

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March 1, 2019

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.

March 1, 2019

New tax transcript practice

IRS changes are intended to better protect taxpayer data.

March 1, 2019

Salesman’s termination payment held not for goodwill

The Tax Court also denies capital gain treatment but allows business deductions for a taxpayer’s subsequent shooting activity.

March 1, 2019

Schreiber receives profession’s highest honor in taxation

Gerard H. Schreiber Jr., a partner in Schreiber & Schreiber in Metairie, La., received the 2018 Arthur J. Dixon Memorial Award, the highest honor bestowed by the accounting profession in the area of taxation.

February 22, 2019

IRS finalizes centralized partnership audit regulations

The IRS issued final regulations on the centralized partnership audit regime, which generally assesses tax at the partnership level.

February 15, 2019

Taxpayers will file QBI deduction computation with IRS next year

The IRS posted a draft of a form that affected taxpayers will submit with their 2019 tax returns showing how they computed their qualified business income (QBI) deduction under Sec. 199A.

February 13, 2019

Bonus depreciation safe-harbor rules for vehicles issued

The IRS issued a safe-harbor procedure that taxpayers may follow for determining the deduction for depreciating passenger vehicles when they are eligible for 100% bonus depreciation but are also subject to the Sec. 280F limits on deductions for luxury automobiles.

February 8, 2019

Identity protection PIN program expands

The IRS announced that it is expanding its identity protection personal identification number (IP PIN) program to taxpayers in seven additional states.

February 5, 2019

How tax reform has changed busy season preparation

Practitioners still have a lot of questions about tax reform — including everything from dealing with binding and nonbinding Tax Cuts & Jobs Act (TCJA) guidance to individual planning considerations. Annette Nellen joins this episode of the podcast to address those issues.

February 1, 2019