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June 2018

IRS Outlines New Five-Year Strategic Plan

The IRS has issued a new five-year strategic plan to guide its programs and operations and to help meet Read more [...]

LB&I Rolls Out Additional Issue-Based Compliance Campaigns

The IRS Large Business and International (LB&I) Division has identified and selected six additional compliance Read more [...]

Life Insurance Transfer Transition Guidance Planned

The IRS intends to provide guidance on the new information reporting obligations for certain life insurance Read more [...]

May 2018

White House Remains Focused on Tax Reform – Phase Two

The White House and Republican lawmakers are continuing discussions focused on a second round of tax Read more [...]

IRS Chief Outlines Tax Reform Implementation

The IRS is already working on implementing tax reform, according to IRS Acting Commissioner David Kautter. Read more [...]

New Law Clarifies Partnership Audit Rules

Technical corrections to the partnership audit rules were included in the bipartisan Consolidated Appropriations Read more [...]

April 2018

Trump Signs Government Funding Bill; Tax Provisions Included

Just hours before government funding was set to expire, President Trump on March 23 signed the bipartisan Read more [...]

AICPA Renews Call for 199A Guidance

The American Institute of CPAs (AICPA) has renewed its call for immediate guidance on new Code Sec. Read more [...]

Trump, House Republicans Discussing Phase-Two of Tax Reform

A top House tax writer has confirmed that House Republicans and the Trump administration are working Read more [...]

House Lawmakers Examine Tax Extenders

The House Ways and Means Tax Policy Subcommittee held a March 14 hearing in which lawmakers and stakeholders Read more [...]

IRS Issues Guidance on Transition Tax Filing and Payment Requirements

The IRS has released Frequently Asked Questions (FAQs) to address a taxpayer’s filing obligations Read more [...]

Conviction for Obstructing Tax Administration Reversed

The U.S. Supreme Court reversed an individual’s conviction for obstructing tax law administration. Read more [...]

March 2018

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 [...]

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 [...]

Administration’s FY 2019 Budget Prioritizes IRS Enforcement, Proposes Few Tax-Law Changes

The Trump administration on February 12 released its much-anticipated fiscal year (FY) 2019 budget request, Read more [...]

February 2018

President signs bill delaying three ACA taxes

President Trump signed legislation on January 22 to delay the medical device excise tax, the health insurance Read more [...]

IRS instructs employers to use new withholding tables

Much-anticipated withholding tables for 2018 have been posted by the IRS. While the new withholding Read more [...]

IRS launches 2018 filing season

The 2018 filing season for 2017 tax-year returns officially launched on January 27. On the other end Read more [...]

Meals & Entertainment Deductions under the New Tax Law

The new Tax Cuts and Jobs Act made several changes to the tax treatment of certain business expenses. Here Read more [...]

Tax Cuts and Jobs Act (TCJA)

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January 2018

Top 10 tax developments with impact on 2018

The start of a New Year presents a time to reflect on the past 12 months and, based on what has gone Read more [...]

Standard mileage rates increase, while higher depreciation limits kick in

The IRS has released the 2018 optional standard mileage rates to be used to calculate the deductible Read more [...]
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