This article reviews several scenarios in which certain individuals could take advantage of a new Internal Revenue Code provision to significantly lower their taxes.
IRS court victories asserting that LLC members should pay self-employment taxes on distributive shares of LLC income should give practitioners pause before claiming this income is exempt from those taxes.
The Tax Court holds that the payments were not for rent.
Every firm should maintain a system for communicating best practices to partners and staff.
The Association for Honest Attorneys' founder used the organization's bank account for personal expenses and cash.
The Tax Court finds an assessment is barred by the statute of limitation.
Tax relief for victims of California wildfires, extension of many lapsed temporary incentives, and a new short-form return for seniors are among the act's revenue provisions.
Excise taxes on ‘Cadillac’ health plans and medical devices again delayed ... AICPA recommends TCJA fixes
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.
Deborah Rood, CPA, outlines the four instances where claims can be severe.
The Supreme Court heard oral arguments in a case with broad remote sales tax collection ramifications.
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.