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The IRS provides guidance to assist in determining expenses for parking fringe benefits for purposes of section 274(a)(4) and 512(a)(7).
Notice 2018-97 provides needed year-end clarity on certain interpretive and administrative issues for the new deferral opportunity.
The deadline for FFIs to certify compliance and confirm their status rapidly approaches. Login to the FATCA portal now to avoid exposure.
Proposed regulations confirm that tax-free gifts made between 2018-2025 will not end up being taxable after 2025.
IRS provides automatic consent for method changes implementing the yet-to-be-clarified revenue recognition rules of section 451(b).
Proposed rules address many open issues and would prescribe complex calculations for taxpayers deducting business interest expense.
The IRS is gearing up for its 1042 and 1042-S compliance campaign slated to begin in early 2019 with focus on common errors.
IRS Deputy Associate Chief Counsel Daniel McCall said government is working on regulations to correct downward attribution of CFC status.