June 2013

June 27, 2013

IRS Issues Guidance on Minimum Essential Health Coverage, Shared-Responsibility Penalty

The IRS issued two notices defining minimum essential coverage for purposes of the Sec. 36B premium tax credit and providing relief from the shared-responsibility penalty under Sec. 5000A for individuals covered by non-calendar year plans.

June 26, 2013

Supreme Court Strikes Down Defense of Marriage Act in Estate Tax Case

The Supreme Court held that the Defense of Marriage Act (DOMA) is unconstitutional because it violates the Fifth Amendment’s Due Process Clause

June 24, 2013

Interim IRS Chief Issues Initial Report on Sec. 501(c)(4) Controversy

Acting IRS commissioner Daniel Werfel issued a report on the plans to reform the IRS to avoid inappropriate targeting of taxpayers applying for Sec. 501(c)(4) social welfare organization status.

June 20, 2013

IRS Controversy Could Cause Tax-Exempt Processing Slowdown

Prepare for a slowdown in work handled by the IRS Exempt Organizations Division in the wake of the recent controversy involving the processing of certain applications for tax exemption, says the division’s former head.

June 17, 2013

AICPA Recommends Changes to Net Investment Income Tax

The AICPA submitted comments to the IRS recommending many changes to the proposed regulations on the new net investment income tax.

June 12, 2013

Oral Surgeon Cannot Deduct Expenses for Traveling Between Home and Job

The Tax Court upheld IRS-assessed deficiencies caused by the disallowance of a number of travel expenses an oral surgeon deducted on his Schedule C and its imposition of a negligence penalty under Sec. 6662(a).

June 10, 2013