IRS releases updated withholding calculator and 2018 Form W-4
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.
Individual Income Taxation
Donation-based crowdfunding and nontaxable gifts
Amounts received from online funding appeals for charitable causes or individual relief may qualify for exclusion from taxable income.
Aiding employees after a disaster via Sec. 139
This little-known provision allows payments to be excludable from employees’ income and deductible by the employer.
Court grants IRS summons of Coinbase records
The Service's narrowed request seeking unreported virtual currency transactions was made in 'good faith.'
U.K. divorce decree payment was not alimony
Payment to the taxpayer's ex-wife was not alimony, as it would not have terminated upon her death under English law.
The AICPA and the ongoing tax reform process
AICPA tax policy experts discuss advocacy efforts related to the recent tax overhaul bill and the role member input will have on its implementation.
A portion of a lump-sum Social Security disability payment ruled includible in gross income
The Tax Court holds that a Sec. 86 election was not made and would not have reduced the tax liability.
Bipartisan Budget Act contains several tax provisions
The Bipartisan Budget Act of 2018 has many tax provisions, including retroactive extensions of a number of tax credits.
How tax reform will impact individual taxpayers
This podcast offers answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.
The AICPA and the ongoing tax reform process
In this Q&A, AICPA policy experts discuss wide-ranging implementation challenges and members’ role in advocating for guidance and technical corrections.
Congress enacts tax reform
Congress enacted tax reform legislation in December that will affect all taxpayers. Changes include new tax rates, modified credits and deductions, and a host of other amendments.
COD income not includible due to lack of a bona fide debt
A taxpayer established that she never intended to be the primary obligor on the loan.
IRS issues more guidance on withholding rules for new tax law
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.
New tax withholding tables are issued
The IRS issued new tax withholding tables for 2018 to be used to implement the changes to the tax law enacted last month.
Charting a new tax season
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.
IRS updates special per-diem rates for business travel
New rates are in effect through September 2018.
Erroneously claimed single status does not foreclose switching to a joint return
The definition of a 'separate return' subject to a Sec. 6013(b) election and its limitations extends only to married-filing-separately status, the Tax Court holds.
What the tax reform bill means for individuals
The tax reform legislation that Congress will consider this week contains many provisions affecting individuals—and many changes from both the House and Senate bills.
Congress passes tax reform
The House of Representatives reapproved tax reform legislation on Wednesday, sending the bill to President Donald Trump for his signature.
Senate passes tax reform bill; House must revote
The Senate voted early today in favor of the Tax Cuts and Jobs Act, H.R. 1, which the House of Representatives had approved Tuesday.
