IRS Announces Interest Rate Increase for the First Quarter of 2019
The Internal Revenue Service recently announced that interest rates will increase for the calendar quarter beginning Jan. 1, 2019.
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Inflation Adjustments and Tax Tables for 2019
The Internal Revenue Service recently announced the tax year 2019 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes.
View MoreIRS Issues Tax Preparer Due Diligence Rules
The Treasury Department and the Internal Revenue Service recently issued final regulations expanding the long-standing paid preparer due diligence requirement to include individual income tax returns claiming the head of household filing status.
View MorePTIN Renewal Time!
The Internal Revenue Service is reminding the nation’s more than 768,000 federal tax return preparers that they must renew their Preparer Tax Identification Numbers (PTINs) for 2019. All current PTINs will expire Dec. 31, 2018.
View MoreNew Guidance on TCJA Changes on Business Expense Deductions for Meals, Entertainment
The Internal Revenue Service has issued guidance on the business expense deduction for meals and entertainment following law changes in the Tax Cuts and Jobs Act (TCJA).
View More2018–2019 Per-Diem Rates Issued by IRS
The IRS has issued the 2018–2019 special per-diem rates, including the transportation industry meal and incidental expenses rates, the rate for the incidental-expenses-only deduction, and the rates and list of high-cost localities for purposes of the high-low substantiation method.
View MoreIRS: 2018 Employer Reimbursements for Employees’ 2017 Moves Are Generally Tax Free
Employer payments or reimbursements in 2018 for employees’ moving expenses incurred prior to 2018 are excluded from the employee’s wages for income and employment tax purposes, the Internal Revenue Service recently announced.
View MoreAdditional Guidance on Transition Tax on Foreign Earnings from IRS
The Treasury Department and the Internal Revenue Service has provided additional guidance (Notice 2018-26) for computing the “transition tax” on the untaxed foreign earnings of foreign subsidiaries of U.S. companies under the Tax Cuts and Jobs Act enacted on Dec. 22, 2017.
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