IRS Tax Planning; Tax Minimization

TOPICS / PROCEDURE

August 1, 2018

IRS updates charitable contribution procedures

The IRS issued new procedures for contributions to charitable organizations, including rules for when donors can rely on the information about an organization’s tax-exempt status on the IRS database Tax Exempt Organization Search.

August 1, 2018

New guidance needed on virtual currency taxation

The comments were prompted by new questions that have emerged about how the tax rules apply to virtual currency transactions since the AICPA first submitted comments.

July 1, 2018

Special limitation period does not apply in foreign tax imbroglio

Taxpayers failed to convince a court that their tax overpayment was attributable to foreign taxes for
which a credit was allowed.

June 1, 2018

Tax reform and the IRS: Five takeaways for tax practitioners

Tax administration, post–tax reform, is markedly different than before, for several reasons.

June 1, 2018

Appropriations act tax provisions include IRS funding and audit rules

The $1.3 trillion spending bill passed by Congress includes IRS funding and tax-related technical corrections, including changes to the centralized partnership audit regime.

May 30, 2018

AICPA recommends IRS FAQs on virtual currency taxation

The comments were prompted by new questions that have emerged about how the tax rules apply to virtual currency transactions since the AICPA first submitted comments.

May 25, 2018

Standard mileage rates, depreciation amounts updated

The IRS issued guidance on the standard mileage rates and depreciation limits that were changed by the Tax Cuts and Jobs Act.

May 10, 2018

Reporting life settlement sales after the Tax Cuts and Jobs Act

Find out about a new requirement for life insurance companies to report sales of life insurance policies.

April 12, 2018

Are client meals deductible after the Tax Cuts and Jobs Act?

Editor’s note: Thank you for your interest in this article. The deductibility of business meals is an evolving issue under P.L. 115-97, known as the Tax Cuts and Jobs Act, and this article is no longer available.

April 1, 2018

Economic substance doctrine applied to conservation easements

The IRS stated it would challenge the tax benefits of certain syndicated conservation easement transactions.

April 1, 2018

Court rejects ‘obey-the-law’ injunction in employment tax case

A district court denied the IRS a proposed injunction that would have required taxpayers to comply with their employment tax obligations.

March 23, 2018

Federal spending bill includes tax provisions

The $1.3 trillion spending bill passed by Congress includes IRS funding and tax-related technical corrections, including changes to the centralized partnership audit regime.

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.

February 1, 2018

Congress enacts tax reform

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

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

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 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 10, 2018