Individual Income Taxation
The package includes final regulations, guidance on how to calculate W-2 wages, a safe-harbor rule for rental real estate businesses, and new proposed rules on the treatment of previously suspended losses.
The relief applies to individuals whose tax withheld and estimated tax payments equal at least 85% of the tax shown on their 2018 tax return.
This article discusses changes that might affect clients that are divorced, are in the process of divorcing, or that have prenuptial or post-nuptial agreements.
The IRS announced that its Free File program, which provides free electronic filing options to moderate-income taxpayers, opened Jan. 11 and will operate through Oct. 15.
This article discusses the modifications made to Sec. 174 and Sec. 41, which will affect taxpayers’ R&D tax credit claims for tax years after Dec. 31, 2021.
Tax refunds that count as "public assistance benefits" may be exempt in bankruptcy.
IRS guidance clarifies what it means to claim a personal exemption deduction.
A Second Circuit decision may affect the analysis
of whether the modification of a derivative triggers gain or loss.
Employer reimbursements made in 2018 of qualified moving expenses incurred prior to 2018 in connection with a move that occurred prior to Jan. 1, 2018, may be excluded from employees’ wages and gross income despite the suspension of the exclusion for tax years 2018 through 2025.
Economic benefits from an S corporation’s payment
of a premium on a life insurance policy were not includible in the shareholder/employee’s income.
A TIGTA audit report examined tip-related tax noncompliance and made nine recommendations to the IRS.
As a result of feedback from payroll and tax professionals, the IRS will postpone the extensive changes it had planned to the 2019 Form W-4.
Jeff Bilsky, CPA, senior practice leader for BDO’s national partnership taxation group, sat down recently for a question-and-answer session on guidance that has been issued on the Sec. 199A qualified business income deduction.
The IRS released guidance on the standard mileage rate for business, medical and certain moving expenses incurred in 2019.
The IRS issued guidance outlining how to determine the amount of parking expense that is nondeductible under Sec. 274(a)(4) when employers provide parking for their employees.
The IRS issued initial guidance on the application of Sec. 83(i), which allows certain employees to defer recognition of income attributable to the receipt or vesting of qualified stock.
This article discusses who qualifies to take the credit, how to make the election, the calculation and allocation of the credit, and how to report it.
This article discusses the limitations that apply to
specified service trades or businesses.
The IRS issued guidance on the deductibility of meal and entertainment expenses after the modification of Sec. 274 by the TCJA.
The Social Security Administration said that the amount of wages subject to the old age, survivors, and disability insurance (OASDI) tax for 2019 will be $132,900, increased from 2018’s maximum of $128,400.
