Author Archives: admin

  • 0

First-year challenges of TCJA implementation require broader penalty relief

Despite generally lower tax bills, many taxpayers are seeing smaller-than-expected refunds — or no refunds at all. And some taxpayers are now subject to underwithholding penalties, despite limited relief from the IRS.
Source: Tax News
Read More here – First-year challenges of TCJA implementation require broader penalty relief


  • 0

First-year challenges of TCJA implementation require broader penalty relief

Despite generally lower tax bills, many taxpayers are seeing smaller-than-expected refunds — or no refunds at all. And some taxpayers are now subject to underwithholding penalties, despite limited relief from the IRS.
Source: JOA News
Read More here – First-year challenges of TCJA implementation require broader penalty relief


  • 0

Finance leaders feel good but ready for a downturn

Finance executives in the United States continue to feel good about growth in their respective industries, despite creeping concerns that the good times could be coming to an end in the near future.
Source: JOA News
Read More here – Finance leaders feel good but ready for a downturn


  • 0

FASB alters accounting for episodic TV series

FASB issued a standard that converges the accounting guidance for production costs for episodic TV series with the rules for production costs for films.
Source: JOA News
Read More here – FASB alters accounting for episodic TV series


  • 0

Opportunities beckon in new qualified opportunity zones

With their prospects for deferral or even exclusion of gains from certain investments in them, the newly created qualified opportunity zones offer an intriguing tax planning option for investors and a potential boon for distressed communities.
Source: Tax News
Read More here – Opportunities beckon in new qualified opportunity zones


  • 0

Treasury announces changes to tax regulatory process

The IRS and the Treasury Department announced changes to their policy on issuing temporary regulations, notices of proposed regulations, and other guidance.
Source: Tax News
Read More here – Treasury announces changes to tax regulatory process


  • 0

New FASB standard clarifies lease accounting issues

FASB addressed two lessor implementation issues and clarified an exemption for lessors and lessees from a certain interim disclosure requirement associated with adopting the board’s new lease accounting standard.
Source: JOA News
Read More here – New FASB standard clarifies lease accounting issues


  • 0

Guidance proposed on FDII and GILTI deductions

The IRS issued guidance on determining the amount of the deduction for foreign-derived intangible income (FDII) and global intangible low-taxed income (GILTI) under Sec. 250.
Source: Tax News
Read More here – Guidance proposed on FDII and GILTI deductions


  • 0

Guidance proposed on FDII and GILTI deductions

The IRS issued guidance on determining the amount of the deduction for foreign-derived intangible income (FDII) and global intangible low-taxed income (GILTI) under Sec. 250.
Source: JOA News
Read More here – Guidance proposed on FDII and GILTI deductions


  • 0

Court upholds IRS PTIN fees

The IRS has authority to charge a user fee for preparer taxpayer identification numbers (PTINs) a federal appeals court held, paving the way for the agency to reinstate the charges for obtaining and renewing a PTIN.
Source: Tax News
Read More here – Court upholds IRS PTIN fees