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.
Individual Income Taxation
IRS issues HSA contribution limits for 2019
The IRS issued the inflation-adjusted contribution limits for 2019 for health savings accounts.
Gravel mined on Seneca land is not exempt from tax
Income from selling gravel mined on Seneca Nation land was not exempt from tax under two treaties between the United States and the Seneca Nation.
Counterintuitive tax planning: Increasing taxable scholarship income to reduce taxes
This article discusses the potential benefit of choosing to include scholarships or grants in income.
Using big data to identify tax risk
This column provides background on usable data readily available from the IRS and a case study in which students can use the IRS data to assess audit risk.
Qualified equity grants: A welcome alternative for startup companies
The Tax Cuts and Jobs Act provides an alternative designed to help ease the burden on employees receiving stock.
Casualty losses and expenditures under Sec. 162 or 165
Two Code provisions, Sec. 162 and Sec. 165, offer a potential deduction for a taxpayer who has property that has been damaged by a casualty.
Revenue procedure contains tax rate tables and inflation adjustments under new tax law
The IRS announced new lower tax brackets for 2018 and a number of other new items affected by the Tax Cuts and Jobs Act.
IRS gives taxpayers relief from erroneous HSA contributions
The IRS announced it will allow taxpayers to treat $6,900 as the 2018 limit for deductible contributions to HSAs for individuals with family coverage.
Bunching charitable donations after the new tax law
A potential side effect of fewer taxpayers itemizing their deductions is that these taxpayers may choose to reduce or eliminate charitable contributions.
Congress extends expired provisions
The Bipartisan Budget Act of 2018 has many tax provisions, including retroactive extensions of a number of tax credits.
Current U.S. tax incentives for higher education expenses
This article examines the requirements and limitations taxpayers face when seeking benefits of significant education-related income tax provisions.
Exiting the U.S. tax system
An exit strategy can help mitigate unexpected and potentially costly tax consequences upon departure from the United States.
New withholding rules necessitated by 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.
The Sec. 199A qualified business income deduction and fiscal years
Taxpayers who receive income from fiscal-year passthrough entities need guidance on when to claim the new Sec. 199A deduction for qualified business income.
The physical presence test for excluding foreign earned income
Under Sec. 911, a U.S. citizen whose tax home is in one or more foreign countries, who spends enough there, can exclude a certain amount of foreign earned income.
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.
Individual taxation: Report of recent developments
This article is a semiannual review of developments in individual federal taxation, including issues of alimony, trade or business expenses, and recognition of loss.
Strategies for minimizing estimated tax payments
Taxpayers can use various techniques to minimize estimated tax payments throughout the year while also avoiding underpayment penalties.
Bipartisan Budget Act contains several tax provisions
The Bipartisan Budget Act of 2018 has many tax provisions, including retroactive extensions of a number of tax credits.
