February 2019

February 26, 2019

Times have changed; professional standards should, too

The AICPA is revising its Statements on Standards for Tax Services and wants your help.

February 22, 2019

IRS finalizes centralized partnership audit regulations

The IRS issued final regulations on the centralized partnership audit regime, which generally assesses tax at the partnership level.

February 20, 2019

State tax law cannot discriminate against federal pensioners, Supreme Court holds

The U.S. Supreme Court held that West Virginia cannot provide a tax exemption to state law enforcement retirees while denying that exemption to federal law enforcement retirees who performed similar jobs.

February 15, 2019

Taxpayers will file QBI deduction computation with IRS next year

The IRS posted a draft of a form that affected taxpayers will submit with their 2019 tax returns showing how they computed their qualified business income (QBI) deduction under Sec. 199A.

February 13, 2019

Bonus depreciation safe-harbor rules for vehicles issued

The IRS issued a safe-harbor procedure that taxpayers may follow for determining the deduction for depreciating passenger vehicles when they are eligible for 100% bonus depreciation but are also subject to the Sec. 280F limits on deductions for luxury automobiles.

February 8, 2019

Identity protection PIN program expands

The IRS announced that it is expanding its identity protection personal identification number (IP PIN) program to taxpayers in seven additional states.