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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
The IRS issued guidance to employers on Thursday regarding the amount of federal income tax to withhold from employees’ wages. Continue Reading
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 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
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