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July 31, 2014

Hidden Treasures

Hidden Treasures is an informational webcast intended to review all the benefits of Tax Section membership (for prospective members) and highlight newly added resources (for existing […]
July 31, 2014

Regulations Provide Guidance on Sec. 6707 Material Adviser Penalty

The IRS issued final regulations under Sec. 6707, which imposes a large penalty on any material adviser who fails to file a return required under Sec. […]
July 27, 2014

IRS Issues Guidance on Health Insurance Premium Tax Credits

The IRS issued regulations and revenue procedures addressing how to calculate the Sec. 36B premium tax credit. Source: AICPA – Tax
July 27, 2014

New IRS Rules Simplify Compliance for Money Market Fund Shares

The IRS issued guidance that allows a simplified method for calculating gain or loss on shares in MMFs subject to the new rules and exempts redemptions […]
July 27, 2014

New Rules on Covered Asset Acquisitions Will Shut Down Transactions to Avoid Sec. 901(m)

The IRS will issue regulations to prevent taxpayers from misapplying the statutory disposition rule in cases where the gain or loss from the disposition of the […]
July 25, 2014

2014-07-26TaxEalert: Fate of Premium Tax Credit Unclear; Affordable Care Act (ACA) Implications: Mid-Year Premium Tax Credit Checkup

This document contains information on the unclear fate of premium tax credit and Affordable Care Act Implications: Mid-Year premium tax credit checkup and more Source: AICPA […]
July 23, 2014

Federal Courts Disagree on Health Care Credits for Federal Exchanges

Two federal appellate courts issued conflicting decisions regarding the availability of the Sec. 36B premium tax credit for taxpayers who purchase health insurance on exchanges set […]
July 23, 2014

Final Rules Issued on Bona Fide Indebtedness and Terminating Partnership’s Startup Expenses

Final regulations were issued on S corporation shareholder basis of indebtedness of the S corporation to the shareholder only if the indebtedness is bona fide and […]
July 18, 2014

Court Halts IRS Regulation of Contingent Fees for Refund Claims

A federal court granted summary judgment and issued an injunction to prevent the IRS from regulating contingent fee arrangements for the preparation and filing of ordinary […]
July 13, 2015

Defined Benefit Plans to Be Prohibited From Replacing Annuities With Lump-Sum Payments

The IRS announced that it will amend the Sec. 401(a)(9) required minimum distribution regulations to prohibit the use of lump-sum payments to replace annuity payments in […]
July 14, 2015

Emerging Tax Issues Cause Due-Diligence Problems

From foreign accounts to health care, from marijuana businesses to captive insurance, emerging tax issues are presenting practitioners with thorny due-diligence problems. Source:: AICPA – Tax
July 16, 2015

National Taxpayer Advocate: IRS Falling Down on the Job of Helping Identity Theft Victims

During some of the busiest weeks of tax season, less than one caller in 10 to the IRS’s Taxpayer Protection Program phone line was able to […]
July 17, 2015

Revised Form 3115 Issued in Draft Form

The IRS posted a draft version of a revised Form 3115, Application for Change in Accounting Method, which incorporates revisions to the process for requesting accounting […]