Some individual taxpayers get relief from underpayment penalty
The relief applies to individuals whose tax withheld and estimated tax payments equal at least 85% of the tax shown on their 2018 tax return.
Individual Income Taxation
IRS announces Free File launch
The IRS announced that its Free File program, which provides free electronic filing options to moderate-income taxpayers, opened Jan. 11 and will operate through Oct. 15.
Meals continue to be deductible under IRS guidance
Advance guidance clarifies that the TCJA's disallowance of deductions for entertainment, amusement, or recreation does not address business meals.
Church members’ donations to minister are denied gift treatment
Objective evidence indicates donors' intent was to provide compensation, the Tax Court holds.
Filing season quick guide — tax year 2018
Download our annual quick guide, a tax season reference highlighting dollar thresholds, tax tables, standard amounts, credits, and deductions.
Tackling TCJA changes this tax season
An altered landscape awaits CPA preparers and their clients.
2019 standard mileage rates announced
The IRS released guidance on the standard mileage rate for business, medical and certain moving expenses incurred in 2019.
Tax Court grants innocent spouse relief from taxes on embezzled funds
The taxpayer's subsequent knowledge of the embezzlement prevents relief for a second tax year.
The TCJA and foreign real property taxes
Despite the repeal of an itemized deduction for foreign real property taxes, some benefit may still be available to certain U.S. taxpayers living and working overseas.
Schoolteacher’s failure to file FBAR results in $800,000 penalty
The Court of Federal Claims holds that actions and failure to inquire into reporting requirements for a foreign account by a taxpayer who had made a 'quiet disclosure' showed willfulness.
Social Security wage base set for 2019
The Social Security Administration said that the amount of wages subject to the old age, survivors, and disability insurance (OASDI) tax for 2019 will be $132,900, increased from 2018’s maximum of $128,400.
Final rules govern adequate substantiation for charitable contributions
The regulations also contain new definitions of qualified appraisals and qualified appraisers for noncash contributions.
Understanding the new kiddie tax: Additional examples
Examples of how the tax owed for children subject to the kiddie tax can change from 2017 to 2018.
Understanding the new kiddie tax
The Tax Cuts and Jobs Act made significant changes to the kiddie tax. See how the tax is determined under the new rules.
How the suspension of personal exemptions affects health-care-related provisions
IRS guidance clarifies what it means to claim a personal exemption deduction.
Meals continue to be deductible under new IRS guidance
The IRS issued guidance on the deductibility of meal and entertainment expenses after the modification of Sec. 274 by the TCJA.
New life for IRA qualified charitable distributions
The TCJA’s higher standard deduction makes before-tax giving more attractive.
Qualified business income deduction regs. proposed
'Reliance' regs., other guidance cover many questions about the TCJA's 20% deduction for noncorporate entities.
IRS issues 2018–2019 per-diem rates
The IRS issued its annual update of the special per-diem rates for business travel away from home from Oct. 1, 2018, through Sept. 30, 2019.
Vacation home rentals and the TCJA
Allocation of certain expenses between personal and rental use may need to change under the law known as the Tax Cuts and Jobs Act.
