Tax Alert
Exempt organization-specific provisions in the House Bill H.R. 1
The tax reform legislative process was formally kicked off Nov. 2, 2017, with the release of H.R. 1, the Tax Cuts and Jobs Act.
Ideas & Insights
Insight Article
FASB addresses income tax accounting issues arising from the TCJA
A summary of the FASB’s decisions on Jan. 10, 2018 on various income tax accounting issues arising from the Tax Cuts and Jobs Act.
Tax Alert
Tax Cut and Jobs Act changes to section 174 rules
Major changes to the treatment of research and experimentation expenditures are coming in 2022 as a result of Tax Reform.
Tax Alert
FASB provides guidance on tax accounting issues raised by TCJA
The FASB recently issued Q&As to address certain accounting issues raised by TCJA. Following is our summary of the FASB Staff Q&As.
Tax Alert
Accounting methods in the 2017-2018 Priority Guidance Plan Q2 update
Accounting methods and other notable items in the second quarter update to the IRS and Treasury’s 2017-2018 Priority Guidance Plan.
Tax Alert
IRS releases transitional guidance on Sections 162(f) and 6050X
Notice 2018-23 provides transitional guidance that delays when governments and governmental entities must report pursuant to section 6050X.
Tax Alert
Two pitfalls to avoid when navigating the new bonus depreciation rules
Taxpayers must not overlook acquisition dates or that qualified improvement property is 39-year property and not bonus eligible.
Insight Article
S corps revoking election have a 6 year spread of 481a adjustments
An S-corporation opting to change to a C-corporation, may need to change certain accounting methods, requiring a section 481(a) adjustment.
Tax Alert
Treasury Department to release tax reform priority guidance plan
Treasury official outlines areas for which guidance will soon be issued to implement the Tax Cuts and Jobs Act.
Tax Alert
AMT credits: A refundable carryforward…subject to limitation?
Availability of newly refundable AMT credit carryforwards in light of section 383 credit utilization limitation presents issue.
Tax Alert
Broad new limitation on business interest deductions
While the Tax Cuts and Jobs Act generally will lower business income tax rates, businesses with debt financing may see an increased tax bill
Tax Alert
IRS blended tax rate guidance for fiscal year-end corporations
Corporations calculating blended rate federal income tax liability for an affected fiscal year can refer to Notice 2018-38.
Tax Alert
Pass-throughs holding breath for House tax bill
Domestic pass-through entities await details of House tax bill on carried interest, tax rates and interest deductions.
Tax Alert
Senate bill increases Form 5472 penalties
A provision in the Senate tax reform bill will substantially increase penalties related to late filed Form 5472.
Tax Alert
The Tax Cuts and Jobs Act (the Act): Corporate tax considerations
New corporate tax rules provide benefits, take away significant deductions and generally adds complexity to the corporate tax system.
Insight Article
2017 year-end federal tax planning guide
Review legislative changes and other tax concerns that affect 2017 tax compliance and how to plan for 2018. Download our guide.
White Paper
Excise tax on tax-exempt compensation paid over $1 million per year
Provision in the Tax Cuts and Jobs Act enacts excise tax on exempt organization compensation paid over $1 million per year.
Audiocast
Exempt organization tax reform update podcast
View our comprehensive podcast to learn more about the final provisions affecting exempt organizations under the Tax Cuts and Jobs Act.
Insight Article
IRS issues guidance for certain distributions from donor advised funds
The IRS and the U.S. Department of the Treasury have released Notice 2017-73, outlining proposed guidance on donor advised funds.
Tax Alert
Changes ahead for exempt organizations as vote nears on tax reform
Latest version of Tax Cuts and Jobs Act provides some relief to tax-exempts on one hand but eyes big changes on the other.