Tax & Accounting Blog

IRS Postpones Information Reporting by Domestic Entities for Specified Foreign Financial Assets

On January 23, 2013, the IRS issued Notice 2013-10. The Notice postpones the date that domestic entities, including trusts, will be required to report their interests in specified foreign financial assets on Form 8938. Background Code § 6038D was enacted by section 511 of the Hiring Incentives to Restore Employment Act (the … Read More

New Regulations For Appraisal Review Board Determinations In Texas

New Regulations For Appraisal Review Board Determinations In Texas

Effective today, September 26, 2013, the Texas Comptroller of Public Accounts has issued arbitration regulations regarding appraisal review board determinations. These regulations are in accordance to recently passed legislation repealing the expedited arbitration process. These regulations, through binding arbitration, allow the owner to appeal an appraisal review board order determining a filed protest. These regulations … Read More

Regulations Require Updating of Employer Identification Numbers

Regulations Require Updating of Employer Identification Numbers

On May 3, 2013, the IRS issued final regulations that require any person assigned an employer identification number (EIN) to provide updated information to the IRS in the manner and frequency prescribed by forms, instructions, or other appropriate guidance.  These regulations affect persons with EINs and will enhance the IRS’s ability to maintain … Read More