About Melody Clark

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So far Melody Clark has created 57 blog entries.

August 2019

Proposed Exception to MEP Unified Plan Rule

Proposed regulations would provide an exception to the unified plan rule for multiple employer plans Read more [...]

Proposed Regulations Address PFIC Rules

The Treasury and IRS have issued proposed regulations on provisions dealing with passive foreign investment Read more [...]

Continuity Safe Harbor Deadlines for Energy Credit Facility Construction May Be Tolled for National Security Delays

The continuity safe harbor placed-in-service date deadlines for the investment tax energy credit (Code Read more [...]

Preventive Care High Deductible Health Plan Exceptions Expanded for Chronic Conditions

Effective July 17, 2019, the list of preventive care benefits that can be provided by a high deductible Read more [...]

Final Regs Dealing With Lessees Claiming Investment Credit Disallow Basis Increases for Partners and S Shareholders Making Income Inclusions

IRS final regulations provide rules that apply when the lessor of investment tax credit property elects Read more [...]

Final Regulations Allow Truncated TINs on Forms W-2 Furnished to Employees

Final regulations allow employers to voluntarily truncate employees’ social security numbers (SSNs) Read more [...]

Final Regulations Clarify Employment Tax Treatment of Partners in Partnership That Owns Disregarded Entity

The IRS has released final regulations that clarify the employment tax treatment of partners in a partnership Read more [...]

House Approves Bipartisan Repeal of ACA’s “Cadillac” Tax

The House has approved a bipartisan repeal of the Affordable Care Act’s (ACA) so-called "Cadillac"excise Read more [...]

Trump Signs Bipartisan IRS Reform Legislation Into Law

On July 1, President Trump signed into law a sweeping, bipartisan IRS reform bill called the Taxpayer Read more [...]

July 2019

Bipartisan IRS Reform Bill

The Senate has approved a bipartisan IRS reform bill, which now heads to President Trump’s desk. Trump Read more [...]

Proposed Rules Explain 199A Deduction for Cooperatives and Patrons

Taxpayers may rely on two new pieces of IRS guidance for applying the Code Sec. 199A deduction Read more [...]

Final Rules Limit Charitable Contributions Made for SALT Credits

The IRS has issued final regulations that require taxpayers to reduce the amount any charitable contribution Read more [...]

Final and Proposed Regs on GILTI-Related Matters

Final regulations address the global intangible low-taxed income (GILTI) provisions of Code Sec. Read more [...]

Temporary Regulations Limit Application of Participation DRD To Prevent Tax Avoidance

Newly issued temporary regulations limit the application of the Code Sec. 245A participation Read more [...]

Final Regulations Reduce Section 956 Income Inclusions by Domestic Corporations Owning CFC Stock

Final regulations reduce the Code Sec. 956 amount for certain domestic corporations that own Read more [...]

Employers Can Offer HRAs Integrated with Individual Coverage

Final rules allow employers to use health reimbursement arrangements (HRAs) to reimburse employees for Read more [...]

Final Regs Address CPEO Requirements, Responsibilities

Final regulations provide requirements that a person must satisfy to become and remain a certified professional Read more [...]

June 2019

Corporate Challenge 2019

6/4/19:  Team FS CPAs participated in the 2019 J. P. Morgan Corporate Challenge, in support of the Read more [...]

Senate Tax Writers Discuss Bipartisan Retirement Savings Bills; Related House Vote Expected Soon

Senate tax writers on Capitol Hill continue to discuss bipartisan retirement savings bills as the House Read more [...]

Trump, Democratic Leaders Agree to Develop $2 Trillion Infrastructure Plan

President Donald Trump and Democratic congressional leaders have agreed to develop a $2 trillion infrastructure Read more [...]

Proposed Regulations Issued on Withholding on Foreign Partner’s Disposition of Partnership Interest

Highly anticipated proposed regulations have been issued on the withholding required with respect to Read more [...]

Proposed Regulations Issued on CFC Related Person Rules and Active Trade or Business Exception

Proposed regulations provide rules on the attribution of ownership of stock or other interests for determining Read more [...]

Final Regulations Issued on Recognition and Deferral of Code Sec. 987 Gain or Loss

Final regulations have been issued on transactions of U.S. taxpayers that have qualified business units Read more [...]

Medicaid Waiver Payments Were Earned Income Even Though IRS Excluded Them From Gross Income

Medicaid waiver payments were earned income, even though IRS Notice 2014-7 treated them as “difficulty Read more [...]

May 2019

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