In response to shortages of undyed diesel fuel caused by Hurricane Florence, the IRS has announced it will not impose a penalty when dyed diesel fuel is sold for use or used on the highway in the State of North Carolina.
At least IRS efforts to use private debt collectors, which have failed in the past, aren’t losing money, according to a new report by the Treasury Inspector General of Tax Administration (TIGTA). But the program is far from a roaring success.
This includes quarterly estimated income tax payments due on Sept. 17, 2018, and the quarterly payroll and excise tax returns normally due on Sept. 30, 2018. Businesses with extensions also have the additional time including, among others, ...
Since the OVDP’s initial launch in 2009, more than 56,000 taxpayers have used the various terms of the program to comply voluntarily with U.S. tax laws. These taxpayers with undisclosed offshore accounts have paid a total of $11.1 billion in back ...
What are your favorite tools for getting and staying organized? As the autumn tax season is upon us, and spring tax season will be here soon (there’s always a tax season looming…), I checked in with some members of the CPA Practice Advisor community ...
The report provides detailed projections of the inflation-adjusted amounts for key individual items, expensing and various “small business” limitations, health, charitable, compliance and other specialty items, transfer tax and foreign items, and ...
New reporting rules requiring the filing of Form 8992, U.S. Shareholder Calculation of Global Intangible Low-Taxed Income, are also described in the proposed regulations.
The study also found that while the vast majority of companies plan to add to their tax department’s headcount (75 percent), there is still pressure to keep costs down. Efforts to allocate resources to more strategic, value-added areas and balance ...