New proposed legislation that puts taxpayers first is understandably drawing approvals from both sides of the aisle in Congress. On March 28, the top tax writers from the House Ways & Means Committee and the Senate Finance Committee (SFC) introduced...
The immediate effect of Rev. Rul. 2019-9, would allow for a tax-free distribution of stock and securities to its shareholders, provided the controlling corporation and the active corporation are engaged in an active conduct of trade or business ...
The IRS has announced that General Motors, LLC has sold more than 200,000 vehicles eligible for the plug-in electric drive motor vehicle credit during the fourth quarter of 2018.
The Tax Cuts and Jobs Act (TCJA), enacted in December 2017, limited the itemized deduction for state and local taxes to $5,000 for a married person filing a separate return and $10,000 for all other tax filers. The limit applies to tax years 2018 to 2025.
The National Society of Accountants (NSA) is holding a live Enrolled Agent (EA) exam review at the Charlotte Marriott City Center, May 13 - 15 2019.
The IRS recently announced that it had further lowered the threshold to qualify for penalty relief from 85 percent to 80 percent.
The change will prohibit entities from using their own EINs to obtain additional EINs. The requirement will apply to both the paper Form SS-4, Application for Employer Identification Number, and online EIN application.
The Illinois CPA Society has compiled a list of five keep tax issues that people involved in sports betting, even NCAA March Madness pools, need to keep in mind.