The IRS issued guidance on the tax treatment of state and local refunds now that taxpayers are limited to a $10,000 deduction on their individual tax returns.
Source: Tax News
Read More here – Tax treatment of state and local tax refunds clarified
The IRS issued guidance on the tax treatment of state and local refunds now that taxpayers are limited to a $10,000 deduction on their individual tax returns.
Source: JOA News
Read More here – Tax treatment of state and local tax refunds clarified
Private companies implementing new lease accounting rules can expect a complex transition and a substantial financial statement impact.
Source: JOA News
Read More here – Lease accounting: A private company perspective
Beginning May 13, the IRS will accept employer identification number (EIN) applications only from individual taxpayers who have either a Social Security number or an individual taxpayer identification number as the responsible party on the EIN application.
Source: Tax News
Read More here – Procedure for obtaining EINs to change May 13
Beginning May 13, the IRS will accept employer identification number (EIN) applications only from individual taxpayers who have either a Social Security number or an individual taxpayer identification number as the responsible party on the EIN application.
Source: JOA News
Read More here – Procedure for obtaining EINs to change May 13
Risk functions that are up to speed with organizations’ digital initiatives are better able to manage risks in a transformative time.
Source: JOA News
Read More here – The benefits of a digitally fit risk function
The IRS issued final regulations under Sec. 6707A, which imposes a penalty on taxpayers who fail to disclose a reportable transaction on their tax returns.
Source: Tax News
Read More here – Final rules issued on penalty for nondisclosure of reportable transactions
The IRS issued final regulations under Sec. 6707A, which imposes a penalty on taxpayers who fail to disclose a reportable transaction on their tax returns.
Source: JOA News
Read More here – Final rules issued on penalty for nondisclosure of reportable transactions
Auditors should perform and report on prior-period audits in accordance with auditing standards in effect at the time the engagement is performed, according to nonauthoritative guidance issued by the AICPA.
Source: JOA News
Read More here – AICPA issues guidance on prior-period audits
The IRS announced that it is lowering from 85% to 80% the amount taxpayers are required to have paid in order to escape an underpayment of estimated income tax penalty for 2018.
Source: Tax News
Read More here – IRS expands relief from underpayment penalty
