This article is a semiannual review of recent developments in the area of individual taxation.
Individual Income Taxation
Passthrough owners that do not materially participate in a trade or business may find their tax credits suspended.
Pregame meals provided to Boston Bruins players and personnel before away games qualify as a de minimis fringe benefit.
The loans may be recharacterized as compensation, which can trigger unexpected income and payroll taxes for the doctor.
A recent Tax Court case provides a cautionary tale for taxpayers who rely on do-it-yourself tax preparation software.
This article describes the requirements for an organization to meet Sec. 115(1).
Introductory tax courses often focus solely on compliance or theory, which can cause some students to lose interest in the topic.
The IRS issued final regulations that govern the relief available for victims of domestic abuse or abandonment from the requirement that married taxpayers must file joint income tax returns to qualify for the Sec. 36B premium tax credit.
The health care bill released by Senate Republicans on Thursday would retain the Affordable Care Act’s 3.8% net investment tax and the 0.9% Medicare surtax.
This item discusses a methodology to sample expenditures by reviewing amounts capitalized for book purposes and to determine the extent to which they should be classified as tangible personal property or expensed for tax purposes.
Deductible HSA contributions can be used to offset all forms of income.
The IRS issued the inflation-adjusted figures for the annual contribution limits for health savings accounts.
The Tax Court held it would be against “equity or good conscience” to deny an ex-NYPD police officer a hardship waiver for failing to meet the rollover requirement while he was suffering from a “major depressive disorder.”
The Senate Republicans’ bill to replace Obamacare would repeal many of the Affordable Care Act’s tax provisions. Here’s a look at the tax changes in the bill.
This column discusses IRS notices and how taxpayers should react to them.
Most states that have a personal income tax have a function whereby the taxpayer can file as a full-year resident, a partial-year resident, or a nonresident.
Health care exchanges failed to properly verify the identity and eligibility of all individuals who received the advance premium tax credit, the Treasury Inspector General for Tax Administration reported.
Tax practitioners better trained in data analytics could improve decision-making in several areas.
This article explores the income tax issues that arise from owning or living in a home with a person other than a spouse.
A joint return with only one spouse’s signature was not valid.