Gross Income

IRS Illustrates Employee Reimbursement Plans

The IRS has described four situations where employers have recharacterized taxable wages as nontaxable business expense reimbursements and has ruled on whether these arrangements satisfy the business connection requirement of the accountable plan rules.

Who Can or Must File a Form 1099-C?

With taxpayers and businesses defaulting on credit and loans, tax advisers may consider whether their clients should issue a Form 1099-C for a bad debt.

Prop. Regs. Provide Guidance on Meals and Entertainment Expenditures

Proposed regulations clarify the definition of a reimbursement or other expense allowance arrangement and provide guidance on the applicability of the Sec. 274(e)(3) exception under various circumstances including employer/employee, two-party, and multiparty arrangements.

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.