It is not too late for 2020 QOF tax deferral opportunities
- February 11, 2021
This year, taxpayers can choose between two sets of regulations when investing in qualified opportunity funds. Continue Reading
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Tax Podcast: Being Late Proves Costly
- November 29, 2020
This week's topics: A taxpayer is denied permission to file a late mark to market election as a trader; final regulations are issued related to the TCJA unrelated business income changes; like kind exchange regulations finalized by the IRS. Continue Reading
IRS issues final regulations for Achieving a Better Life Experience (ABLE) accounts
- October 1, 2020
The IRS posted final regulations today for Achieving a Better Life Experience (ABLE) accounts, finalizing two proposed regulations published in 2015 and in 2019 in response to the Tax Cuts and Jobs Act. Continue Reading
Employers get guidance on income tax withholding from wages
- October 1, 2020
The IRS issued guidance to employers on Thursday regarding the amount of federal income tax to withhold from employees’ wages. Continue Reading
IRS issues final regulations on the deduction for meals and entertainment
- September 30, 2020
The IRS issued final regulations on the business expense deduction for meals and entertainment following changes made by the Tax Cuts and Jobs Act (TCJA). Continue Reading
IRS provides final regulations on income tax withholding on certain periodic retirement and annuity payments
- September 28, 2020
IRS and Treasury today issued final regulations updating the federal income tax withholding rules for certain periodic retirement and annuity payments made after Dec. 31, 2020. Continue Reading
IRS provides final regulations on deductions for estates and non-grantor trusts, including excess deductions on termination
- September 21, 2020
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
IRS finalizes regulations for 100 percent bonus depreciation
- September 21, 2020
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
IRS issues final regulations for the rehabilitation credit
- September 15, 2020
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
Opportunity Zones: Facts and Resources from IRS
- August 27, 2020
An overview of opportunity zones, created by the Tax Cuts and Jobs Act. Continue Reading