IRS Practice & Procedure

TOPICS

March 13, 2018

Businesses affected by winter storms get extra time to file for extensions

The extension to March 20 applies to business taxpayers affected by the two recent winter storms, Quinn and Skylar, that primarily hit the Northeast and Mid-Atlantic United States.

March 5, 2018

IRS issues new tax rate tables, inflation adjustments for 2018

The IRS announced the new lower tax brackets for 2018 and a number of other new items affected by P.L. 115-97, known as the Tax Cuts and Jobs Act.

March 1, 2018

IRS releases updated withholding calculator and 2018 Form W-4

The IRS has completed updating its online withholding calculator that individual taxpayers can use to determine how many withholding allowances they should claim for 2018.

March 1, 2018

Six-year limitation period does not apply to years before Sec. 6038D’s enactment

The six-year limitation period applies only to tax
years in which the Sec. 6038D reporting requirement was in effect.

March 1, 2018

Strategies for minimizing estimated tax payments

Taxpayers can use various techniques to minimize estimated tax payments throughout the year while also avoiding underpayment penalties.

March 1, 2018

Potential pitfalls in the timing of filing refund claims

This item discusses two cases that highlight nuances of the refund claim limitation provisions.

February 13, 2018

IRS proposes to remove 298 regulations

The IRS is proposing to remove 298 regulations that have no current or future application to the Internal Revenue Code.

February 8, 2018

Charles Rettig to be nominated new IRS commissioner

President Donald Trump announced that he will nominate Charles Rettig, a tax attorney from California, to be the new Commissioner of the IRS.

February 6, 2018

OPR implements greater transparency in disciplinary investigations

The IRS’s Office of Professional Responsibility has implemented a new process for informing practitioners that they are under investigation for violations of Circular 230.

February 1, 2018

Congress enacts tax reform

This column summarizes the federal tax law changes under reform enacted in December.

February 1, 2018

IRS expands list of large business audit ‘campaigns’

LB&I division’s list expands the government’s tax enforcement and administration efforts, especially in the international arena.

February 1, 2018

Ethics rule would require CPAs to discuss suspected illegal acts with clients

This column addresses how this new rule may impact CPA tax practitioners providing services outside the scope of an audit or to a nonaudit client.

February 1, 2018

Employment tax penalties: Let’s keep it civil

This article focuses on the potential criminal consequences that can arise when a business fails to collect or pay over withheld tax.

February 1, 2018

A new safe harbor for LB&I taxpayer R&D credits

A new directive allows taxpayers to use R&D costs reported on FASB ASC financial statements as the starting point for computing QREs.

February 1, 2018

IRS memorandum provides clarity on treatment of debt-issuance costs

The IRS concluded that a taxpayer could deduct the unamortized debt-issuance costs related to its existing debt upon its exchange for new debt.

January 29, 2018

IRS issues more guidance on withholding rules for new tax law

The IRS issued Notice 2018-14 to provide more guidance on the withholding rules that were changed by P.L. 115-97, known as the Tax Cuts and Jobs Act.

January 29, 2018

Practitioners need immediate guidance on tax reform act, AICPA says

Thirty-nine areas in the recent tax overhaul act require immediate guidance, the AICPA told the IRS and Treasury.

January 20, 2018

What to expect from the IRS during the government shutdown

The shutdown of the federal government comes just nine days before the scheduled start of tax season. Here’s a look at how the IRS may be affected.

January 18, 2018

FASB proposes corporate reporting change related to new tax law

FASB proposed a new standard that is intended to help organizations reclassify certain income effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act.

January 11, 2018