News

The Internal Revenue Service has finalized proposed regulations issued in August on the new transition tax, added by the law known as the Tax Cuts and Jobs Act, which generally taxes a corporation's accumulated post-1986 deferred foreign income.

The repeal of the deduction for alimony payments is not the only change in law by the Tax Cuts and Jobs Act that will affect planning for a divorce. Find out those other considerations here.

The law known as the Tax Cuts and Jobs Act changed rules for deducting business meals, specifically prohibiting a deduction for entertainment expenses. The amendments created much uncertainty in the business community until the Internal Revenue Service issued guidance on the rules, which are explained here.

Sen. Ron Wyden, D-Ore., is calling on IRS Commissioner Charles Rettig to forgive taxpayer penalties for individuals whose withholdings were too low as a result of changes in the Tax Cuts and Jobs Act.

The Tax Cuts and Jobs Act has created new opportunities for CPAs to provide value to clients, writes Sid Kess, CPA. Among other things, advisers can offer guidance as clients decide which business structures to use, whether to relocate and how to maximize the tax benefits of charitable contributions.

Return preparers must be ready for how the Tax Cuts and Jobs Act has modified many common features of individual and business returns.

Jeff Bilsky, CPA, senior practice leader for BDO's national partnership taxation group, sat down recently for a Q&A session on guidance that has been issued on the Sec. 199A qualified business income deduction.

The Internal Revenue Service issued guidance on excess business loss limitations and net operating losses following law changes in the Tax Cuts and Jobs Act (TCJA).

Parking benefits that nonprofits, such as churches and synagogues, offer employees are taxable as part of the Tax Cuts and Jobs Act. Here is a closer look at the tax and a sample method for determining how much a nonprofit might have to pay.

The lame-duck package has been scaled back as the congressional term nears an end.