IRS and Treasury Department Issue Global Intangible Low-Taxed Income Guidance
The Treasury Department and IRS recently issued final and proposed regulations concerning global intangible low-taxed income.
View MoreTSCPA News
= Member Only
Filter by Category:
All Featured (27) For the Public (149) Tax News (485) Accounting & Auditing (235) Business & Industry News (141) Regulatory News (116) Legislative News (55) Chapter News (40) Young CPAs (82) Students (101) TSCPA Press Releases (81)Showing : 451–460 of 485
IRS Modifies and Supersedes Revenue Procedure 2018-52
The IRS recently announced Revenue Procedure 2019-19 will modify and supersede Rev. Proc. 2018-52, 2018-42 I.R.B. 611, which sets forth the Employee Plans Compliance Resolution System (EPCRS).
View MoreIRS Issues Guidance Providing Safe Harbor for Professional Sports Teams’ Trades
The IRS recently issued guidance that provides a safe harbor allowing professional sports teams to treat certain player and staff member contracts and draft picks as having a zero value for determining gain or loss to be recognized on the trade of a player or staff member contract or draft pick.
View MorePlug-In Electric Vehicle Tax Credit for Eligible Consumers Begins Phaseout April 1
General Motors has sold more than 200,000 vehicles eligible for the plug-in electric drive motor vehicle credit during the fourth quarter of 2018, triggering a phaseout of the tax credit available for purchasers of the vehicles.
View MoreIRS Expands Tax Withholding and Estimated Tax Payments Penalty Waiver
The IRS recently provided additional expanded penalty relief to taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year.
View MoreIRS Issues Proposed Regulations on New Tax Reform Reporting Requirements for Life Insurance Contract Transactions
Certain life insurance contracts may have reporting requirement changes under the Tax Cuts and Jobs Act.
View MoreIRS Revenue Ruling Provides Prescribed Rates for Federal Income Tax Purposes
The IRS recently issued Revenue Ruling 2019-08 that provides various prescribed rates for federal income tax purposes.
View MoreIRS Issues Proposed Regulations on Deduction for Foreign-Derived Intangible Income and Global Intangible Low-Taxed Income
The IRS recently issued proposed regulations under section 250 of the Internal Revenue Code, which offers domestic corporations deductions for foreign-derived intangible income and global intangible low-taxed income.
View MoreBeware of “Ghost” Tax Return Preparers
The IRS warns taxpayers to avoid unethical tax return preparers, known as “ghost” preparers.
View MoreIRS Waives Estimated Tax Penalty for Farmers, Fishermen Who File Returns and Pay Tax by April 15
The IRS will waive the estimated tax penalty for any qualifying farmer or fisherman who files his or her 2018 federal income tax return and pays any tax due by Monday, April 15, 2019.
View More