IRS issues draft 2019 Form 1040 and schedules
Here are some of the notable changes from 2018 that are reflected on the 2019 drafts: The filing status line …
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IRS advises on interaction of corporate charitable deductions and NOLs
Code Sec. 170(a) allows a deduction for charitable contributions paid within the tax year. Code Sec. 170(b)(2)(A) limits a corporation’s current charitable contribution …
IRS releases draft of new simplified tax return for seniors: Form 1040-SR
Congress directed the IRS to create a new form, designated Form 1040-SR, for use by individuals age 65 and older …
Deadline to claim refund for veteran disability severance payments approaching
Code Sec. 104(a)(4) generally provides that gross income does not include amounts received as a pension, annuity, or similar allowance for personal …
Filing period for whistleblower award appeal to Tax Court not jurisdictional
Although the Tax Court properly determined that the individual’s petition was untimely, the filing period is not jurisdictional and is …
Tax Advocate issues report on earned income tax credit and “map” of tax system
Background. TAS is an independent organization within IRS whose employees assist taxpayers who are experiencing economic harm, who are seeking help …
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Difference Between Revenue, Collaborative Arrangements Is Clarified With Amendment to U.S. GAAP
The FASB published an update to U.S. GAAP to address financial reporting questions about some types of joint ventures. The …
IRS issues TCJA-required form for governments, etc. to report fines, etc. they received
2019 Form 1098-F, Fines, Penalties, and Other Amounts 2019 Instructions for Form 1098-F IRS has issued new form, 2019 Form …
Thomson Reuters Authenticator Display Cards Wins Accounting Today’s Top New Product Award for Security Tools
Accounting Today has recognized Thomson Reuters Authenticator™ as the Top New Product of 2019 in the security tools category. Data …