March 2018

Chili Cook-off February 12, 2018

The Firm’s annual Chili Cook-off was once again big success! Thank you to everyone who brought in their Read more [...]

Trump Signs Bipartisan Budget Act; Tax Extenders Included

President Trump on February 9 signed the Bipartisan Budget Act into law after a brief government Read more [...]

Happy Pi Day 2018!

Having an argument with homemade pi just goes around in circles…

Treasury Moves To Repeal 298 Unnecessary, Obsolete Regulations

The Treasury Department has proposed repealing 298 regulations. According to the Treasury, the targeted Read more [...]

IRS Posts Best Practices For Individual Mandate

The IRS has posted best practices for return preparers addressing the Affordable Care Act’s individual Read more [...]

Additional Partnership Audit Regs Tackle Basis/Capital Accounts

New proposed regulations under the centralized partnership audit regime address how and when partnerships Read more [...]

IRS Issues Guidance On Accounting Period Changes By Foreign Corporations To Prevent Avoidance of Transition Tax

The IRS has issued guidance for certain specified foreign corporations owned by U.S. shareholders subject Read more [...]

November 2017

FAQ: How does a business handle holiday gift-giving?

Holiday gifts made to customers are generally deductible as ordinary and necessary business expenses Read more [...]

How do I? Compute the Nanny Tax

Nanny tax. For purposes of federal tax, employers must withhold and pay FICA taxes (7.65%) if they paid Read more [...]

Tax reform takes on new momentum as year-end approaches

Tax reform discussions continue on Capitol Hill with legislation expected to be released very soon. GOP Read more [...]

IRS reminds taxpayers of ACA requirements; White House seeks administrative changes

As the 2018 filing season nears, the IRS is reminding taxpayers that the Affordable Care Act (ACA) remains Read more [...]

Year-end tax planning for 2017: challenges/opportunities

Year-end tax planning can provide most taxpayers with a good way to lower a tax bill that will otherwise Read more [...]

November 2017 tax compliance calendar

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting Read more [...]

October 2017

FAQ: Can I claim the adoption credit for a foreign adoption?

Yes, however, there are special timing rules for foreign adoptions. These rules differ from the timing Read more [...]

IRS exam staffing falls; audit coverage declines

IRS Exam staffing in fiscal year (FY) 2016, the latest tax year with statistics available, reached a Read more [...]

Congressional tax writers set to take up reform proposals

Tax writers in Congress are set to begin debating and writing tax reform legislation. On September 27, Read more [...]

Disaster tax relief unveiled in Congress

As millions of Americans recover from Hurricanes Harvey, Irma and Maria, Congress is debating disaster Read more [...]

October 2017 tax compliance calendar

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting Read more [...]

September 2017

FAQ: What is “assignment of income” under the tax law?

Gross income is taxed to the individual who earns it or to owner of property that generates the income. Read more [...]

Don’t overlook child-related deductions and credits

Parents incur a variety of expenses associated with children. As a general rule, personal expenditures Read more [...]

Disaster relief, tax reform on Congress’ September agenda

As lawmakers return to work after their August recess, Hurricane Harvey has increased expectations on Read more [...]

August 2017

Tax reform discussions continue in Congress on variety of approaches

House and Senate lawmakers have started their August recess, leaving pending tax legislation for after Read more [...]

July 2017

How do I…work-around the IRS Data Retrieval Tool (DRT) being offline?

Every year, millions of post-secondary students access the IRS Data Retrieval Tool (DRT) to complete Read more [...]

What’s next for IRS/Treasury regulations in response to Executive Orders?

With the release of regulations on centralized partnership audits, many taxpayers hope that it will Read more [...]

Lawmakers continue tax reform debate and discussions

Lawmakers from both parties spent much of June debating and discussing tax reform, but without giving Read more [...]
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