Monthly Archives: January 2017

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New Form 990-EZ Has Help Icons to Aid Exempt Organizations in Filing

The IRS announces new Form 990-EZ with help icons to assist organizations with accurate filing .
Source: Tax News
New Form 990-EZ Has Help Icons to Aid Exempt Organizations in Filing


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New Form 990-EZ has help icons to aid exempt organizations in filing

The IRS announces new Form 990-EZ with help icons to assist organizations with accurate filing.
Source: JOA News
Read More here – New Form 990-EZ has help icons to aid exempt organizations in filing


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What repatriation tax changes could mean for U.S. companies

U.S. companies holding earnings overseas in cash could be bringing it back in response to tax reform proposed by the new administration in Washington.
Source: JOA News
Read More here – What repatriation tax changes could mean for U.S. companies


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FASB drops Step 2 from goodwill impairment test

Step 2 was eliminated from the goodwill impairment test as the FASB sought to simplify accounting in a new standard issued Thursday.
Source: JOA News
Read More here – FASB drops Step 2 from goodwill impairment test


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Seventh Circuit Holds That Taxpayer Filed Timely Tax Court Petition

The Seventh Circuit Court of Appeals reversed and remanded the taxpayer’s case back to the Tax Court after finding that the taxpayer, whose lawyers used a self-printed postal label, had met the timely mailing/timely filing requirement.
Source: Tax News
Seventh Circuit Holds That Taxpayer Filed Timely Tax Court Petition


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IRS Amends Form Instructions for AMT Depreciation Changes

The IRS announced that it has updated various 2016 form instructions to reflect changes to AMT adjustments made by the PATH Act.
Source: Tax News
IRS Amends Form Instructions for AMT Depreciation Changes


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Centralized Partnership Audit Rules Proposed

The IRS released a package of proposed provisions that will apply to the recently enacted centralized audit regime that generally assesses and collects tax at the partnership level.
Source: Tax News
Centralized Partnership Audit Rules Proposed


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IRS Proposes Changes to Rules for Dependents

The IRS proposed changes to various rules affecting dependents, including changing its position on when taxpayers count as “childless” for purposes of the earned income tax credit.
Source: Tax News
IRS Proposes Changes to Rules for Dependents


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IRS Permits Same-Sex Couples to Recalculate Marital Exclusion Amounts

The IRS spelled out the procedures same-sex married couples should use to recalculate the transfer-tax treatment for property transferred to spouses before the U.S. Supreme Court invalidated Section 3 of the Defense of Marriage Act.
Source: Tax News
IRS Permits Same-Sex Couples to Recalculate Marital Exclusion Amounts