Jeff Bilsky, CPA, senior practice leader for BDO’s national partnership taxation group, sat down recently for a question-and-answer session on guidance that has been issued on the Sec. 199A qualified business income deduction.
Results for ""TCJA""
CORPORATIONS IRS issues new procedure for obtaining consent for a change in computing insurance reserves The IRS issued a revenue procedure modifying Rev. Proc. 2018-31 to provide procedures for an insurance company to obtain automatic IRS consent to change its method of accounting to comply with Sec. 807(f), as amended
The IRS released guidance on the standard mileage rate for business, medical and certain moving expenses incurred in 2019.
The IRS issued guidance outlining how to determine the amount of parking expense that is nondeductible under Sec. 274(a)(4) when employers provide parking for their employees.
The TCJA created an incentive program that allows a taxpayer to elect to exclude from gross income capital gain if it is properly reinvested in a qualified opportunity zone.
A terminated S corporation may remain a cash-basis taxpayer if its average gross receipts for the three previous tax periods are less than $25 million.
This item discusses the many tax ramifications of converting.
The IRS issued proposed regulations implementing Sec. 951A’s global intangible low-taxed income provision, which requires a US shareholder of a controlled foreign corporation to include this income in the shareholder’s gross income.
The IRS issued guidance on the deductibility of meal and entertainment expenses after the modification of Sec. 274 by the TCJA.
Notice 2018-67 provides interim and transition rules for aggregating qualifying partnership interests.
Wayfair and the TCJA have positioned SALT issues to be a leading consideration in the overall tax landscape in the 2019 tax return preparation season.
This article discusses the limitations that apply to specified service trades or businesses.
CPAs can reassure an unsettled client base by confidently providing coherent explanations and advice relating to the many changes brought about by last year’s tax reform legislation.
TCJA changes increase the pool of taxpayers qualifying for favorable small business accounting method reform.
The IRS announced procedures for taxpayers to change their accounting method to comply with the amendment of Sec. 451(b) enacted by the tax law known as the Tax Cuts and Jobs Act.
The IRS issued proposed regulations on the determination of the foreign tax credit after the changes in the law made by the Tax Cuts and Jobs Act.
The IRS issued a notice providing interim guidance for the 2019 calendar year on income tax withholding from wages and from retirement and annuity distributions.
The IRS issued proposed regulations on the business interest expense limitation in Sec. 163(j), which was amended by the law known as the Tax Cuts and Jobs Act.
The IRS addressed issues and made conforming revisions arising from the temporary increase in basic exclusion amount for estate and gift tax enacted by legislation known as the Tax Cuts and Jobs Act.
Veteran tax attorney Charles Rettig gives his first public address as new IRS commissioner, speaking to CPAs Tuesday at the AICPA National Tax Conference in Washington.