Gross Income

Prize Money Exempt From Federal Tax

The United States Appreciation for Olympians and Paralympians Act of 2016 excludes the value of medals or prize money received from the United States Olympic Committee.

Olympic Tax Break Enacted

Legislation excluding prize money earned by Olympians and Paralympians from gross income was signed into law.

Individual Tax Update

This article covers recent developments affecting taxation of individuals, including regulations, cases, and IRS guidance.

Newsletter Articles

PRACTICE MANAGEMENT

Tax software survey

Our annual survey offers a look at how CPAs judged their tax preparation software in a wide range of types of practices.

NEWS

Congress enacts tax reform

Here are many of the most important provisions in the new law that affect both individual taxpayers and businesses. All changes were effective Jan. 1, 2018, except as noted.