Tax News - The Tax Adviser

January 9, 2018

IRS asking for taxpayer representatives’ personal information

The IRS is now asking taxpayer representatives who call the agency to provide their Social Security number and date of birth to confirm their identity.

January 4, 2018

IRS announces when filing season will start

The IRS announced that this year’s filing season will begin about a week later than last year’s filing season.

January 4, 2018

Form 1023-EZ will ask applicants for mission and activities

The streamlined application for tax-exempt status will ask organizations to describe their mission and activities for the first time.

January 2, 2018

Final rules govern election out of centralized partnership audits

The IRS finalized the rules for determining whether partnerships are eligible to elect out of the centralized audit procedures enacted in 2015, which apply to partnerships this year.

January 2, 2018

SEC permits reasonable estimates in corporate tax reporting

Companies may initially have difficulty determining the effects of the new federal tax law on their income tax reporting.

December 22, 2017

President signs tax overhaul into law

President Donald Trump signed H.R. 1, the Tax Cuts and Jobs Act legislation, thereby making it law.

December 20, 2017

How tax overhaul would change business taxes

The tax reform bill that Congress is expected to vote on this week contains numerous changes that will affect businesses large and small.

December 20, 2017

What the tax reform bill means for individuals

The tax reform legislation that Congress will consider this week contains many provisions affecting individuals—and many changes from both the House and Senate bills.

December 20, 2017

Congress passes tax reform

The House of Representatives reapproved tax reform legislation on Wednesday, sending the bill to President Donald Trump for his signature.

December 20, 2017

Senate passes tax reform bill; House must revote

The Senate voted early today in favor of the Tax Cuts and Jobs Act, H.R. 1, which the House of Representatives had approved Tuesday.

December 15, 2017

Conference committee approves tax reform legislation

House and Senate conferees agreed to legislative language of a tax reform bill that is expected to be voted on by Congress next week.

December 14, 2017

IRS issues 2018 standard mileage rates

The IRS issued the standard mileage rates for business, medical and moving expenses incurred in 2018.

December 14, 2017

A 2017 federal tax deduction for prepaying anticipated 2018 state income taxes? Not likely!

In anticipation of the possible elimination or reduction of the state and local income tax deduction, some are suggesting that taxpayers should prepay their 2018 state taxes in 2017. Here’s why that probably won’t work.

December 2, 2017

Senate passes tax reform bill

In the early hours of Saturday morning, the U.S. Senate passed its version of the Tax Cuts and Jobs Act bill by a vote of 51–49.

November 27, 2017

Social Security Administration announces small increase in 2018 wage base

The SSA said that the maximum amount of wages subject to the 6.2% Social Security tax in 2018 will rise a little more than 1%, after a much larger increase last year.

November 17, 2017