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June 22, 2015

IRS Issues Guidance for Multiemployer Plans to Apply For Benefit Suspension Approval

The IRS issued temporary and proposed regulations that provide guidance for multiemployer pension plans that are in critical and declining status and therefore may be permitted […]
June 22, 2015

Proposed Rules for ABLE Accounts for the Disabled Are Issued

The IRS issued proposed regulations implementing Sec. 529A, which authorizes states to offer specially designed tax-favored accounts for the disabled (ABLE accounts). Source:: AICPA – Tax
June 13, 2015

IRS: Corporations Cannot Circumvent Gain on Appreciated Property Using Partnerships

The IRS issued regulations that take aim at transactions that attempt to avoid the repeal of the General Utilities doctrine. Source:: AICPA – Tax
June 12, 2015

Tax Industry and IRS Team Up to Fight Identity Theft Refund Fraud

Tax software vendors will share analytical information about their customers’ tax filings with the IRS under new agreement announced by the IRS. Source:: AICPA – Tax
June 10, 2015

Hot Topics: Small Business Employment Taxes – What You Should Know Before You Hire Your First Employee

read more Source:: PASBA
June 10, 2015

Practice Management Feature: Education and Learning

Practice Management Feature for May Tax Section newsletter on learning and development during summer Source:: AICPA – Tax
June 3, 2015

Bright-Line Test Determines Substantial Business Activities Under Inversion Rules

Final regulations were issued for determining when an expanded affiliated group will be considered to have substantial business activities in a foreign country, which allows a […]
June 3, 2015

Expanded IRS Online Services Put Taxpayer Information at Risk, Senate Committee Told

By expanding its online services, the IRS is putting taxpayers’ data at greater risk, the Treasury Inspector General for Tax Administration told Congress. Source:: AICPA – […]
June 1, 2015

New Accounting Method Change Procedures Give More Time to File Form 3115

Taxpayers affected by the tangible property regulations will have more time to file Form 3115 under Rev. Proc. 2011-14 according to revised procedures issued by the […]
April 3, 2015

Family Limited Partnerships (FLPs) AICPA and IRS Resources

IRS Resources IRS Audit Technique Guide on Family Partnership (updated Oct. 2014) IRS Appeals Settlement Guidelines for Family Limited Partnerships and Family Limited Liability Corporations (Oct. […]
April 4, 2015

Hot Topics: Tax Day is Coming – Are you Ready?

Even if you haven’t started your small business tax preparation yet, it’s not too late to seek assistance from an accountant, tax preparer or enrolled agent. […]
April 13, 2015

Wife of Anti-Tax Author Sentenced to Prison

A taxpayer was sentenced to 18 months in prison followed by one year of supervised release after being convicted of criminal contempt for failing to file […]
April 14, 2015

IRS Grants Penalty Relief to Taxpayers Who Received Incorrect Health Care Forms

To ease the filing burden for taxpayers who received late or incorrect Forms 1095-A, the IRS announced that it will provide penalty relief for taxpayers. Source:: […]