Tax Insider Articles

Test your IRS IQ

How much do you know about the IRS? Take this pop quiz to find out.

Maximizing the QBI deduction with UBIA property

This article examines the calculation of the UBIA of qualified property; offers guidance on special situations such as like-kind exchanges and the Sec. 754 election; and presents planning opportunities to maximize the UBIA of qualified property.

Simplifying the Rube Goldberg tax code

Similar to a Rube Goldberg contraption, the Internal Revenue Code is needlessly complex. Here are a few ideas for simplification and a request for readers to suggest others.

A tribute to Byrle Abbin: A legend of the estate and trust world

Byrle Abbin, CPA, J.D., a respected, knowledgeable, and outspoken mentor to many estate, gift, and trust tax professionals, died on March 19, 2019. He was 87. He joined the AICPA in 1960 and continued to contribute his intelligence, ideas, efforts, and time to the profession and to many professionals for almost 60 years.

Tax Insider Articles

DEDUCTIONS

Business meal deductions after the TCJA

This article discusses the history of the deduction of business meal expenses and the new rules under the TCJA and the regulations and provides a framework for documenting and substantiating the deduction.

TAX RELIEF

Quirks spurred by COVID-19 tax relief

This article discusses some procedural and administrative quirks that have emerged with the new tax legislative, regulatory, and procedural guidance related to COVID-19.