This semiannual update of recent developments in the area of individual taxation includes cases on hobby losses, innocent-spouse relief, material participation in a business, discharge of indebtedness, and self-employment tax, as well as IRS guidance on charitable deductions, cryptocurrency, and other topics.
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Incorporating analytics into the tax curriculum
The growth of emerging technologies is forcing educators to consider how to implement training
in these vital tools across the accounting and business curriculum.
5th Circuit invalidates health care law’s individual mandate
The Fifth Circuit held that the “individual mandate” under Sec. 5000A, which imposes a “shared responsibility payment” on taxpayers who do not obtain health insurance that provides at least minimum essential coverage, is unconstitutional now that the payment amount has been reduced to zero.
Deconstructing a tax law change: The case of the kiddie tax
An exercise helps students grasp the interplay of earned taxable income and net unearned income in calculating the kiddie tax as revised by the TCJA.
Health savings accounts can save taxpayers money
Combined with higher standard deductions under the TCJA, most people do not have enough medical expenses and other qualifying itemized deductions to exceed the standard deduction.
HRAs can be integrated with individual health plans
The IRS issued final regulations on health reimbursement arrangements, which may be offered to individuals as individual coverage HRAs and integrated into health insurance plans.
Current developments in individual taxation
This article is a semiannual review of recent developments in individual federal taxation, covering cases, rulings, and guidance on a variety of topics.
Constructing the effective tax rate reconciliation and income tax provision disclosure
A lesson helps students develop the skills necessary to spot book-tax differences that affect corporations’ effective tax rates.
Guidance adds preventive care items to high-deductible health plans
The IRS added 14 types of preventive care items that qualify to be provided under a high-deductible health plan to treat chronic medical conditions.
Flip the tax return with a professor-prepared tax return
Now that IRS forms have been created to reflect the changes of the TCJA, a professor-prepared
tax return assignment gives faculty an opportunity
to introduce their students to new tax law complexities.
Educating students for expanded financial planning careers
The AICPA is integrating personal financial planning into university-level curriculum in a manner that would help prepare prospective CPA candidates to qualify for the Personal Financial Specialist credential shortly after obtaining their CPA license.
Tax credits in bankruptcy
Tax refunds that count as “public assistance benefits” may be exempt in bankruptcy.
Personal exemption rules clarified for 2018 tax year health-related provisions
IRS guidance clarifies what it means to claim a personal exemption deduction.
Modeling investment tax planning with Excel
Case studies provide a template for accounting educators to develop students’ problem-solving and
decision-making skills while also enhancing their
competency in Excel.
How the suspension of personal exemptions affects health-care-related provisions
IRS guidance clarifies what it means to claim a personal exemption deduction.
Recent developments in individual taxation
This semiannual review covers changes made by the TCJA, cases and guidance involving hobby losses, qualifying as a real estate professional, innocent spouse relief, and other key topics affecting individuals.
The art of PechaKucha: From the classroom to the boardroom
Mastery of PechaKucha can help presenters grab an audience’s attention, calm their own nerves, and avoid several common presentation mistakes.
IRS adjusts HSA limits for 2018, announces 2019 limits
The IRS issued the inflation-adjusted contribution limits for 2019 for health savings accounts.
Does an early retirement distribution qualify for the medical expense exemption?
This article examines three Tax Court cases where the petitioners attempted to use medical hardship to avoid rules on early withdrawals.
IRS issues HSA contribution limits for 2019
The IRS issued the inflation-adjusted contribution limits for 2019 for health savings accounts.
TAX PRACTICE MANAGEMENT
2025 tax software survey
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.
