A CPA needs to detect a client’s nonpayment early and devise a plan for paying the back taxes.
A taxpayer was unable to convince the Tax Court that his gambling activity had a profit motive.
A taxpayer established that she never intended to be the primary obligor on the loan.
Use of 'as if' in statute does not make a criminal restitution amount a tax, the court holds, and thus denies the IRS's assessment of interest and additions to tax based on the restitution.
Certain obligations of U.S. persons can be excepted from U.S. property.
Deborah Walker, national director of Compensation and Benefits at Cherry Bekaert LLP in Washington, D.C., received the AICPA's 2017 Arthur J. Dixon Memorial Award.
LB&I produces examiner’s overview of check-the-box rules ... Guidelines issued for advising private foundations on grants ... LB&I rolls out a second batch of compliance campaignS
The IRS issued Notice 2018-14 to provide more guidance on the withholding rules that were changed by P.L. 115-97, known as the Tax Cuts and Jobs Act.
Thirty-nine areas in the recent tax overhaul act require immediate guidance, the AICPA told the IRS and Treasury.
The continuing resolution to fund the government through Feb. 8 also delays the so-called Cadillac tax on high-cost health plans for an additional two years beyond 2019.
FASB issued four staff Q&As that address financial reporting issues related to the Tax Cuts and Jobs Act.
The shutdown of the federal government comes just nine days before the scheduled start of tax season. Here’s a look at how the IRS may be affected.
The IRS issued new tax withholding tables for 2018 to be used to implement the changes to the tax law enacted last month.
FASB addressed numerous financial reporting implications of P.L. 115-97, known as the Tax Cuts and Jobs Act.
The IRS is now asking taxpayer representatives who call the agency to provide their Social Security number and date of birth to confirm their identity.
With fewer new regulations and laws to reckon with, CPAs may find the 2018 tax season a good time to review their own procedures. Plus: Our annual quick guide, a PDF tax season reference highlighting dollar thresholds, tax tables, standard amounts, credits, and deductions.
The IRS announced that this year’s filing season will begin about a week later than last year’s filing season.
The streamlined application for tax-exempt status will ask organizations to describe their mission and activities for the first time.
The IRS finalized the rules for determining whether partnerships are eligible to elect out of the centralized audit procedures enacted in 2015, which apply to partnerships this year.
Companies may initially have difficulty determining the effects of the new federal tax law on their income tax reporting.