December 20, 2019
Congress recently voted to approve a federal government spending bill that repeals three health care taxes, makes changes to retirement plan rules, extends expired tax provisions, provides disaster tax relief and repeals a provision for tax-exempt organizations.
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November 6, 2019
The IRS recently announced the tax year 2020 annual inflation adjustments for more than 60 tax provisions.
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September 30, 2019
The IRS recently issued a draft of the tax year 2019 Form 1065, U.S. Return of Partnership Income and its Schedule K-1, Partner’s Share of Income, Deductions, Credits, etc.
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September 24, 2019
The IRS recently finalized a safe harbor for certain interests in rental real estate, including interests in mixed-use property, to be treated as a trade or business for purposes of the qualified business income deduction under section 199A of the Internal Revenue Code.
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September 17, 2019
In late June, the IRS and the Treasury Department unveiled a new postcard-sized version of the classic Form 1040, with the goal of replacing the current Forms 1040, 1040A and 1040EZ for next tax season.
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September 17, 2019
The Treasury Department and the IRS recently released final regulations and additional proposed regulations on the new 100 percent additional first year depreciation deduction that allows businesses to write off most depreciable business assets in the year they are placed in service by the business.
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August 14, 2019
The IRS recently announced it is automatically waiving the estimated tax penalty for the more than 400,000 eligible taxpayers who already filed their 2018 federal income tax returns but did not claim the waiver.
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July 29, 2019
The IRS recently announced it is granting certain partnerships the chance to file superseding 2018 tax returns.
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July 9, 2019
TSCPA members recently met with members of Congress to ask them to support consolidating existing IRS units into a Practitioner Services Division so that taxpayer issues are resolved more efficiently.
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June 18, 2019
Congress recently voted to approve an IRS reform bill, the Taxpayer First Act.
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