by Rupinder | Nov 1, 2018 | Uncategorized
IRSAC expands to cover more areas of the IRS; IRPAC and ACT to join centralized advisory committee in 2019 The Internal Revenue Service announced today that the Internal Revenue Service Advisory Committee’s role will expand in 2019 to have a wider portfolio and...
by Rupinder | Nov 1, 2018 | Uncategorized
The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019. The IRS today issued technical guidance detailing these items in Notice 2018-83. Highlights of...
by Rupinder | Oct 31, 2018 | Uncategorized
The Internal Revenue Service today issued proposed regulations reducing the amount determined under Internal Revenue Code section 956 for certain domestic corporations that own (or are treated as owning) stock in controlled foreign corporations (CFCs). The Tax Cuts...
by Rupinder | Oct 29, 2018 | Uncategorized
Each year, hurricanes and other natural disasters leave widespread damage in their wake. In addition to property losses, disasters can have an effect on victims’ taxes. The IRS wants taxpayers to know that when a disaster strikes, the agency is here to help. Here are...
by Rupinder | Oct 23, 2018 | Uncategorized
Accountants and tax preparers need to be aware that the 2019 PTIN renewal period has begun. The Internal Revenue Service today reminded the nation’s more than 768,000 federal tax return preparers that they must renew their Preparer Tax Identification Numbers (PTINs)...
by Rupinder | Oct 17, 2018 | Uncategorized
The rehabilitation tax credit offers an incentive for owners to renovate and restore old or historic buildings. Tax reform legislation passed in December 2017 changed when the credit is claimed and provides a transition rule: The credit is 20 percent of the...
