The Treasury Department and the IRS have released a proposed redesigned partnership form for tax year 2021 (filing season 2022). The proposed form is designed to provide greater clarity for partners on how to compute their U.S. income tax liability ...
The IRS recognizes the important role of legitimate conservation easement deductions in incentivizing land preservation for future generations. However, abusive syndicated conservation easement transactions have been of concern to the IRS for ...
Due to the coronavirus pandemic, taxpayers have until the postponed due date of July 15, 2020, to file their taxes this year. But if they can't make this deadline, they can receive an extension that gives taxpayers until Oct. 15 to file, but taxes owed ..
A general guideline based on IRS information and data from previous years, to help taxpayers estimate when they might receive their refund. We've updated our calendar this year to show estimated refund dates for those who filed later than ...
As opposed to other recent presidential candidates who volunteered to disclose their returns, Trump has steadfastly refused to do so, claiming that the returns are under IRS audit and off-limits.
The proposed regulations provide that the excess deductions retain the character they had at the trust or estate level when they are passed through to the beneficiary.
Having the best options for your clients when tax time comes around is part of being a professional CPA. All clients want to decrease tax burden and increase deductions to maximize after-tax income for the year. There are many options available to help in that pursuit, but some are more well-known than others. Charitable donations […]
These final regulations provide guidance on both the computation of the deductions available and the determination of FDII.