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Employer-required lodging expenses may now be deductible as an employee business expense or, if paid or reimbursed by the employer, excluded under an accountable plan, even if the employee is [...]

The AICPA filed suit in the U.S. District Court for the District of Columbia in July, asking the court to halt the IRS's recently introduced Annual Filing Season Program. The [...]

Under guidance issued by the IRS, administrators of qualified retirement plans must recognize the same-sex spouses of legally married participants as of June 26, 2013, but are not required to [...]

The article offers information on the economic stimulus plan passed by the U.S. House of Representatives which contains several tax provisions including a tax credit for COBRA continuation coverage, and the expansion of several other tax credits. It discusses about the failure to notify a health plan of cessation of eligibility for the continuation coverage premium assistance.

Active duty members of the U.S. armed forces have special tax return filing considerations for both state and federal purposes. It is important to consider how a service member and [...]

Practitioners must consider a number of ethics and risk management issues when preparing and filing FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). At the outset, it [...]

U.S. disregarded entities owned by foreign persons would be treated as domestic corporations under regulations proposed by the IRS (REG-127199-15). The new rules would apply for purposes of the reporting, [...]

Many jurisdictions around the world now impose a value-added tax (VAT) or goods and services tax (GST), but the majority of VAT and GST laws were written before the emergence [...]

Congress made some notable changes to the (then-expired) bonus depreciation provisions when it passed the Protecting Americans From Tax Hikes (PATH) Act of 2015, part of the Consolidated Appropriations Act, [...]

Carefully choosing an appraiser is one key to successful charitable giving of appreciated artwork. Cutting corners on this step can cause the disallowance of the entire value of the contribution. [...]

Recent changes to Social Security contained in the Bipartisan Budget Act of 2015, P.L. 114-74, signed by President Barack Obama on Nov. 2, 2015, will restrict planning opportunities for many [...]

A company cannot simply change its tax method to follow the new book method. By now, most companies are aware that FASB has issued an Accounting Standards Update (ASU) for [...]

Under the Internal Revenue Manual, the IRS has discretionary authority to evaluate prior audits conducted by its employees. This audit reconsideration represents a form of "rework" of a previous audit [...]

On Sept. 15, the IRS issued long-awaited final (T.D. 9636) and proposed regulations regarding the treatment of expenditures incurred in acquiring, producing, or improving tangible assets, including rules on determining [...]

The AICPA, in a letter from Jeffrey Porter, chair of the AICPA Tax Executive Committee, submitted comments to the IRS, recommending many changes to the proposed regulations on the new [...]

A proponent of the "sovereign citizens" movement and self-proclaimed president of the "Republic for the United States of America" has been convicted of conspiracy to defraud the United States through [...]

The IRS released proposed regulations under Sec. 3504 that would govern the liability for employment taxes when an employer designates an agent under a "service agreement" to pay its employees [...]

The IRS released proposed rules for the Sec. 5000A shared-responsihility payment--the penalty or tax imposed on individual taxpayers who do not obtain minimum essential health care coverage beginning in 2014 [...]

The IRS has issued proposed regulations providing guidance on the large employer "shared responsibility" provisions in Sec. 4980H (REG-138006-12). Taxpayers can rely on the proposed regulations until the IRS issues [...]

The IRS issued proposed regulations that affect taxpayers who produce or resell property and allocate costs under the simplified production method or simplified resale method (REG-126770-06). The proposed rules would [...]

The IRS issued temporary and proposed regulations on how to elect to use a deceased spouse's unused exclusion from estate taxes, also known as the portability election (T.D. 9593; REG-141832-11). [...]

The IRS issued temporary regulations on June 7 governing whether a foreign corporation has "substantial business activities" in the foreign country in which, or under the law of which, the [...]

The IRS issued temporary regulations relating to the treatment of upfront payments made pursuant to certain notional principal contracts (NPCs) for U.S. federal income tax purposes (T.D. 9589). The temporary [...]

The First Circuit dismissed a suit for refund of Federal Insurance Contributions Act (FICA) taxes Maine Medical Center mistakenly paid for its medical residents in the 2001 tax year, upholding [...]

In response to the D.C. Circuit's holding that the regulations the IRS had relied on to not disclose rulings denying or revoking organizations' tax-exempt status violated the disclosure provisions of [...]

The IRS issued final regulations on determining who has the legal liability to pay the foreign tax for foreign tax credit purposes (T.D. 9576) and temporary regulations on the application [...]

The IRS on February 8 issued proposed regulations providing rules on information reporting by foreign financial institutions (FFIs) and withholding on certain payments to FFIs and other foreign entities (REG-121647-10). [...]

Family investment partnerships (IPs) are frequently used to manage and control multigenerational family wealth. Aggregating family assets in an IP may also result in significant economic and tax benefits. Accomplishing [...]

On December 23, the IRS issued longawaited temporary and identical proposed regulations (T.D. 9564; REG-168745-03) regarding the treatment of expenditures incurred in selling, acquiring, producing, or improving tangible assets, including [...]

The IRS on November 15 issued final regulations on the application of Sec. 108(e) (8) to partners and partnerships (ID. 9557). The regulations provide rules for determining a partnership's discharge [...]

The IRS issued final regulations (T.D. 9553) clarifying the treatment of disregarded entities with respect to employment and certain excise taxes. The rules adopt proposed regulations issued in 2009 (REG-116614-08). [...]

The IRS issued final regulations (T.D. 9542) governing elections by individual taxpayers, corporations, and partnerships to deduct start-up expenses or organizational expenditures. The regulations adopt (with a slight change) temporary [...]

The Tax Court held that payments made to an elderly woman's caregivers for personal care that she required due to her diminished capacity qualified as long-term care services and were [...]

The Fourth Circuit overturned a Tax Court decision and upheld a Treasury regulation that sets a two-year statute of limitation on claims for innocent spouse relief (Jones, No. 10-1985 (4th [...]

The IRS issued final regulations on May 31 implementing components of its initiative to register and regulate all paid tax return preparers (T.D. 9527), The regulations, which finalize proposed regulations [...]

The IRS issued proposed regulations on the time for taking into account deferred losses on the sale or exchange of property between members of a controlled group (REG-118761-09). Generally, for [...]

On April 14, President Barack Obama signed into law the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011, P.L. 112-9 (1099 Act), which repeals both [...]

The IRS issued final regulations (T.D. 9518) and several pieces of guidance relating to the requirement that return preparers e-file tax returns, starting this year. The final regulations adopt, with [...]

On December 13, the IRS issued final regulations requiring some corporations to file a Schedule UTP, Uncertain Tax Position Statement, disclosing their uncertain tax positions when filing a return (T.D. [...]

A federal district court has held that the health care reform legislation's mandate that individuals obtain health insurance is unconstitutional (Virginia v. Sebelius, No. 3:10-CV-188 (E.D. Va. 12/13/10)). In so [...]

On September 27, President Barack Obama signed into law the Small Business Jobs Act of 2010, P.L. 111-240. The act expands loan programs through the Small Business Administration, strengthens small [...]

On September 13, the IRS released proposed regulations (REG-119921-09) on the tax treatment of series limited liability companies (LLCs) and foreign cell companies, proposing to treat the individual series or [...]

The IRS has issued proposed regulations that would eliminate paper coupons for deposits of employment taxes, corporate income and estimated taxes, and many other taxes (REG-153340-09). The paper coupon payment [...]

On June 11, the IRS issued final, temporary, and proposed regulations to provide guidance on the new 10% indoor tanning services excise tax (T.D. 9486; REG-112841-10). The Patient Protection and [...]

On March 24, the IRS issued proposed regulations that would require paid return preparers to use a preparer tax identification number (PTIN) on all tax returns after December 31, 2010 [...]

On April 8, the IRS and Treasury released final regulations on the availability of a special deduction for deemed living expenses of state legislators (T.D. 9481). The final regulations adopt, [...]

The IRS issued proposed regulations on December 16 relating to how securities brokers report sales to the IRS and how stock basis is determined (REG-101896-09). The regulations propose to set [...]

On October 30, the IRS issued final regulations (T.D. 9469) governing how an S corporation reduces its tax attributes under Sec. 108(b) when the S corporation has discharge of indebtedness [...]

On November 6, President Obama signed the Worker, Homeownership, and Business Assistance Act of 2009, P.L. 111-92. In addition to its main provisions on unemployment compensation extension, the act contains [...]

When a couple have filed joint returns in the past and file separate returns in the current year due to a divorce, estimated tax payments for the current year are [...]