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The IRS today issued final regulations that provide guidance for decedents’ estates and non-grantor trusts clarifying that certain deductions of such estates and non-grantor trusts are not miscellaneous itemized deductions. Continue Reading
The IRS and Treasury released the last set of final regulations implementing the 100% additional first year depreciation deduction that allows businesses to write off the cost of most depreciable business assets in the year they are placed in service by the business. Continue Reading
The IRS today issued final regulations for taxpayers who claim the rehabilitation credit, which was amended by the Tax Cuts and Jobs Act (TCJA). Continue Reading
An overview of opportunity zones, created by the Tax Cuts and Jobs Act. Continue Reading
The IRS issued proposed regulations updating various tax accounting regulations to adopt the simplified tax accounting rules for small businesses under the Tax Cuts and Jobs Act (TCJA). Continue Reading
Congress reverses changes enacted in the TCJA, allowing taxpayers to choose which rules apply in 2018 and 2019. Continue Reading
The IRS today issued final regulations permitting an RIC that receives qualified REIT dividends to report dividends the RIC pays to its shareholders as section 199A dividends. Continue Reading
The Department of the Treasury and the IRS today issued a proposed regulation updating the federal income tax withholding rules for periodic retirement and annuity payments made after December 31, 2020. Continue Reading
The IRS issued proposed regulations under TCJA that provide guidance to taxpayers and governments on fines, penalties and certain other amounts. Continue Reading
The IRS issues guidance for estates and trusts. Continue Reading