After the IRS’s Modernized e-File and Direct Pay systems were not in operation for most of the day on Tuesday, the IRS extended the filing and payment deadline for 2017 individual tax returns until midnight on Wednesday, April 18.
The Treasury Department and the White House’s Office of Management and Budget have agreed to change the procedures under which Treasury regulations are reviewed.
The IRS has issued initial guidance on the new rules governing the deductibility of business interest in Sec. 163(j), as amended by the Tax Cuts and Jobs Act of 2017.
The $1.3 trillion spending bill passed by Congress includes IRS funding and tax-related technical corrections, including changes to the centralized partnership audit regime.
A new technical question and answer from the AICPA provides nonauthoritative guidance to help financial statement preparers account for the amount a partnership pays the IRS under these circumstances.
The U.S. Supreme Court held that to obtain a conviction for obstructing or impeding the administration of the Internal Revenue Code, the government was required to prove that the defendant knew of a pending tax-related proceeding or could reasonably foresee the commencement of such a proceeding.
The IRS completed its annual list of the top tax scams for this filing season, with brazen phishing and phone scams still prominent on the list.
The extension to March 20 applies to business taxpayers affected by the two recent winter storms, Quinn and Skylar, that primarily hit the Northeast and Mid-Atlantic United States.
CPAs around the country are still trying to figure out how the recent national tax reform will impact their clients at the federal level. But they’re also interested in how it will impact their clients at the state level.
While some finance executives wait to commit to changes related to potential tax savings, their optimism shows in revenue and profit projections, a survey shows.
The IRS announced the new lower tax brackets for 2018 and a number of other new items affected by P.L. 115-97, known as the Tax Cuts and Jobs Act.
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.
This little-known provision allows payments to be excludable from employees’ income and deductible by the employer.
AICPA tax policy experts discuss advocacy efforts related to the recent tax overhaul bill and the role member input will have on its implementation.
Eligibility for, and the mechanics of, the election are among the areas covered.
The Service's narrowed request seeking unreported virtual currency transactions was made in 'good faith.'
Payment to the taxpayer's ex-wife was not alimony, as it would not have terminated upon her death under English law.
Amounts received from online funding appeals for charitable causes or individual relief may qualify for exclusion from taxable income.
The Tax Court holds that a Sec. 86 election was not made and would not have reduced the tax liability.
The guidance relates to the Tax Cuts and Jobs Act.