Tax professionals should be up to speed with the rules and offer advice to clients and prospects who are nearing retirement and the age of 65. The following article explores the various Medicare plans and enrollment, how Medicare interacts with other ...
The AICPA explained in its letter that the TCJA amended Internal Revenue Code section 274(a)(4) so that no deduction is allowed for the expenses of any qualified transportation fringe benefit (QTF) provided by a taxpayer to an employee. Under ...
The grant funds provided by the IRS are used by organizations to reimburse volunteers for transportation, meals and other out-of-pocket expenses incurred by them in providing tax counseling assistance at locations convenient to taxpayers.
This new Large Corporate Compliance (LCC) program replaces the Coordinated Industry Case (CIC) program and covers compliance oversight for LB&I’s largest corporate taxpayers. LCC is one of LB&I’s portfolio of compliance programs.
Muthukrishnan brings more than 25 years of experience leading digital and transformational initiatives for global businesses. Most recently, she served as a strategic consultant for Socion Advisors, an advisory firm that works with social initiatives ...
The Tax Cuts and Jobs Act of 2017 has simplified the tax code in many ways, including an increase in the standard deduction for individuals, removal of corporate Alternative Minimum Tax and an increase in bonus depreciation.
The IRS is highlighting tax reform changes that impact depreciation and expensing for nearly every business. In some cases, these changes allow small business owners and the self-employed to write off the cost of machinery, equipment ...
The American Institute of CPAs (AICPA) has submitted recommendations to the Internal Revenue Service (IRS) regarding Rev. Proc. 2018-31, which provides a list of accounting method changes for which automatic consent is granted.