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...
by Rupinder | Oct 12, 2018 | Uncategorized
Hurricane Michael victims in parts of Florida and elsewhere have until Feb. 28, 2019, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today. The IRS is offering this relief to any Major Disaster...
