Ideas & Insights

The IRS describes the procedures required to make a one-time claim for all 2018 and 2019 biodiesel and alternative fuels tax credits.

The medical device excise tax, the health insurance tax and Cadillac tax have all been repealed by recent legislation.

New Jersey becomes the sixth state to adopt an entity-level tax establishing a workaround to the federal SALT deduction limitation.

Transition rules for proposed built-in gain regulations helpful, but do they signal impending finalization of anti-taxpayer rules?

Recent U.S. Tax Court cases shed light on the requirement that the IRS must obtain written supervisory approval of certain penalties.

The due date for providing 2019 Forms 1095-B and 1095-C to individuals has been extended by the IRS from Jan. 31, 2020 to March 2, 2020.

Taxpayers with filing deadlines should carefully consult state taxing authority rules and regulations on timing filings.

Financial Accounting Standards Board releases accounting standards update 2019-12 (ASU 2019-12) relating to simplifying ASC 740.

The Ninth Circuit has confirmed a Tax Court decision that denied S corp shareholders basis for loans held by a related S corporation.

Massachusetts Department of Revenue issues final guidance on application of section 163(j) Interest Expense Limitation.

The IRS finalized rules for withholding and reporting U.S. source payments to foreign individuals and financial institutions.

The IRS issued a notice of proposed rulemaking to provide guidance on procedures for recovery of a misdirected direct deposit refund.

The ruling allows taxpayers to amend a return to increase their ITC because of an increase in the basis of self-constructed property.

The Texas Comptroller adopted a $500,000 economic nexus threshold for the state's franchise tax effective in 2020.

The comment letter explains that certain S corporations that experienced an ownership change should also qualify under these rules.

Both incentive programs were scheduled to sunset in 2019; receive a one-year extension under federal tax bill.

House bill, if enacted, would increase SALT deduction cap in 2019 for certain taxpayers and repeal SALT deduction cap for 2020 and 2021

The SECURE Act makes changes affecting retirement benefits in qualified plans and in IRAs for both the employers and individuals.

The Act’s significant implications for individuals’ retirement and estate planning suggests that they consult with their advisors…now

The final Qualified Opportunity Zone regulations include several taxpayer favorable improvements over the proposed regulations.