IRS will enforce health coverage reporting on 2017 returns
This filing season will be the first time the IRS has enforced this requirement and will not accept tax returns that omit this information.
Specialized Issues
IRS issues regulations on premium tax credit
The IRS issued final regulations that govern the relief available for victims of domestic abuse or abandonment from the requirement that married taxpayers must file joint income tax returns to qualify for the Sec. 36B premium tax credit.
Individual taxation report
This article is a semiannual review of recent developments in the area of individual taxation.
Ideas on incorporating tax policy into a first tax course
Introductory tax courses often focus solely on compliance or theory, which can cause some students to lose interest in the topic.
Final regs. address premium tax credit issues
The IRS issued final regulations that govern the relief available for victims of domestic abuse or abandonment from the requirement that married taxpayers must file joint income tax returns to qualify for the Sec. 36B premium tax credit.
Revised Senate health bill would retain taxes on higher-income individuals
The health care bill released by Senate Republicans on Thursday would retain the Affordable Care Act’s 3.8% net investment tax and the 0.9% Medicare surtax.
IRS issues 2018 inflation adjustments for HSAs
The IRS issued the inflation-adjusted figures for the annual contribution limits for health savings accounts.
Contributions to HSAs
Deductible HSA contributions can be used to offset all forms of income.
Tax provisions in the Senate health care bill
The Senate Republicans’ bill to replace Obamacare would repeal many of the Affordable Care Act’s tax provisions. Here’s a look at the tax changes in the bill.
Data analytics: A high-level introduction for accounting practitioners
Tax practitioners better trained in data analytics could improve decision-making in several areas.
TIGTA issues reports on taxpayers who received advance premium tax credits
Health care exchanges failed to properly verify the identity and eligibility of all individuals who received the advance premium tax credit, the Treasury Inspector General for Tax Administration reported.
Proposed PPACA replacement bills contain many tax changes
The draft proposals to repeal the Affordable Care Act released by House Republicans evening would make many tax changes if enacted. Here’s a look at their impact on the tax code.
Some individuals mistakenly received the advance premium tax credit
Health care exchanges failed to properly verify the identity and eligibility of all individuals who received the advance premium tax credit, the Treasury Inspector General for Tax Administration reported.
Current Developments in Taxation of Individuals
A number of recent significant developments affect taxation of individuals.
Failure to report health coverage will not cause tax return rejection
The IRS issued guidance on how it will treat individual income tax returns that do not indicate whether the taxpayers had health insurance coverage.
Recourse vs. Nonrecourse Indebtedness: Implications for Disregarded Entities Under Sec. 108
This item explores the underlying federal income tax issues that accompany disregarded entities acting as borrowers in lending transactions.
Changes to the 2017 CPA Exam: An Opportunity to Further Students’ Professional Success
The new exam will increase emphasis on the higher levels of Bloom’s Taxonomy, such as analysis and application, and reduce emphasis on remembering and understanding.
Working With Today’s Students
This column features ideas to help tax professors engage students in new ways, without sacrificing tax content.
The ABCs of Form 1095
Understanding forms 1095-A and 1095-B can help in preparing clients' individual income tax returns and fulfilling their professional due-diligence responsibilities.
Chapter 7 and Chapter 11 Bankruptcy: Tax Considerations
This item discusses the common tax issues encountered in Chapter 7 and Chapter 11 bankruptcy cases.
