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Per Diem Travel Rates Updated

The IRS issued updated federal per diem rates and procedures for substantiating deductible expenses or employer-paid allowances for lodging, meals, and incidental expenses incurred in business-related travel away from home.

Adoption Tax Credit Guidance Released

The IRS issued interim guidance September 29 on the child adoption credit and income exclusion for employer reimbursements of adoption expenses, as expanded by the Patient Protection and Affordable Care Act.

IRS Activates New PTIN System

The IRS deployed a new preparer tax identification number (PTIN) registration system September 28 as a component of its initiative to register and regulate paid tax return preparers.

IRS Releases Final Schedule UTP, Incorporates Changes

In two announcements, the IRS unveiled a number of significant changes to its plan to require certain business taxpayers to report uncertain tax positions on their tax returns and issued a final version of Schedule UTP.

Small Business Stimulus Passes Congress

The House on Thursday passed the Small Business Jobs Act of 2010 (HR 5297) by a vote of 237–187, and sent it to the President, who is expected to sign the bill into law.

Senate Passes Small Business Tax Relief

The Senate passed the Creating Small Business Jobs Act of 2010 (part of the Small Business Jobs and Credit Act, H.R. 5297) by a vote of 61–38, and sent it back to the House of Representatives.

IRS Releases Proposed Regs on Series LLCs

The IRS released proposed regulations on the tax treatment of series LLCs and cell companies, proposing to treat the individual series or cells as separate entities for tax purposes.

TAX PRACTICE MANAGEMENT

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2025 tax software survey

AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.

Tax Clinic

IRS generally eliminates 5% safe harbor for determining beginning of construction for wind and solar projects

IRS proposes using NAICS to determine lines of business for certain fringe benefit exclusions

IRS rules that community trust and affiliated nonprofit corporation can file a single Form 990

Prop. regs. issued on new qualified tips deduction

IRS rules for first time that REIT’s income from markup on electricity from EV charging stations is rents from real property