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May 2019

Wolters Kluwer Interview: A Two-Part Q&A Series on the Section 199A Deduction (Part 1 & 2)

Wolters Kluwer Interview: A Two-Part Q&A Series on the Section 199A Deduction (Part 1) Republicans’ Read more [...]

Bipartisan House Bill Aims to Fix “Retail Glitch”

A bipartisan House bill has been introduced that would fix a GOP tax law drafting error known as the "retail Read more [...]

House Approves Bipartisan IRS Reform Bill

The House on April 9 approved by voice vote a bipartisan, bicameral IRS reform bill. The IRS bill, which Read more [...]

Proposed Reliance Regs Address Qualified Opportunity Funds, Zones and Businesses

Proposed regulations address gains that may be deferred when taxpayers invest in a qualified opportunity Read more [...]

Safe Harbor Provided for Basis of Professional Sports Contracts for Players Traded Between Teams

The IRS has provided a safe harbor for professional sports teams to avoid the recognition of gain or Read more [...]

April 2019

Tim Flaherty Radio Interview With Steve Hausmann (WBEE)

Managing Partner Tim Flaherty was interviewed by WBEE's Steve Hausmann on income taxes, tax season Read more [...]

Correction to Penalty Relief for Missing Negative Tax Basis Capital Account Info

The IRS has corrected Notice 2019-20, which provided a waiver of penalties under Code Secs. Read more [...]

March 2019

FS CPAs Receives Top Workplaces Ambassador Award

March 27, 2019 Flaherty Salmin CPAs was honored at the 2019 Top Workplaces reception by receiving Read more [...]

We Did It Again!

The Democrat & Chronicle Names Flaherty Salmin CPAs A Four-Time Winner Of The Rochester Top Workplaces Read more [...]

Compliance Monitoring Obligations of Low-Income Housing Credit Agencies Finalized

Final regulations relating to the low-income housing tax credit revise and clarify requirements Read more [...]

Senators Introduce Bipartisan Craft Beverage Modernization and Tax Reform Bill

Senators have introduced a bipartisan bill specifically tailored to reduce excise taxes and regulations Read more [...]

Opportunity Zone’s Tax Writers, Stakeholders Criticize IRS’s 50-Percent Locational Rule

The IRS’s proposed 50-percent gross income locational rule on the active conduct of Opportunity Read more [...]

February 2019

January 2019

Proposed Regs Provided for Code Sec. 163(j) Limit

The IRS has proposed regulations on the limitation on the business interest expense deduction under Read more [...]

2019 Standard Mileage Rates Released

The IRS released the optional standard mileage rates for 2019. Most taxpayers may use these rates Read more [...]

Guidance Issued on Nondeductible Portion of Parking Fringe Expenses and UBTI

The IRS has provided guidance and examples for calculating the nondeductible portion of parking expenses. Read more [...]

Proposed Regs Address Foreign Tax Credit Changes

Highly anticipated foreign tax credit regulations have been issued that provide guidance on the significant Read more [...]

Proposed Regulations Provide Guidance on Base Erosion and Anti-Abuse Tax (BEAT)

Proposed regulations provide much anticipated guidance on the base erosion and anti-abuse tax (BEAT) Read more [...]

Accounting Method Procedures Simplified for Complying with AFS Deadline for All Events Test

The IRS will grant automatic consent to accounting method changes to comply with new Code Sec. 451(b), Read more [...]

Relief from “Once-In-Always-In” Condition for Excluding Part-Time Employee Deferrals Under 403(b) Plan

The IRS has issued transition relief from the "once-in-always-in" condition for excluding part-time Read more [...]

Guidance on 2019 Withholding Rules

The IRS has provided interim guidance for the 2019 calendar year on income tax withholding from wages Read more [...]

December 2018

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