IRS guidance on when construction has begun on energy property
In a Notice, IRS has provided various rules for determining when construction has begun on energy property that is eligible …
Supreme Court: employee stock options aren’t “compensation” under RRTA
The Supreme Court, in a 5-4 decision reversing and remanding the Seventh Circuit judgment and resolving a circuit split, has …
Banks, Insurers Get Relief From Accounting Effects of Tax Law Change
The FASB updated U.S. GAAP to alleviate concerns from banks and insurance companies about the accounting implications of the Tax …
2017 Tax Reform: Last-minute year-end moves for businesses in light of Tax Cuts and Jobs Act
With the signing into law of the Tax Cuts and Jobs Act (the Act), Congress has enacted the biggest tax …
IRS updates pre-TCJA guidance on vehicle and unreimbursed employee expenses
In a Notice and accompanying news release, IRS has provided updated information to taxpayers and employers about changes from the …
Fact Sheet highlights new rules & limits for depreciation and expensing under TCJA
IRS has issued a fact sheet that highlights some of the new rules and limitations for depreciation and expensing under …
IRS issues 2018 depreciation dollar limits for passenger autos
IRS has released the Code Sec. 280F depreciation limits for business passenger automobiles placed in service by the taxpayer in 2018, taking …
Publication explains how to calculate (deemed repatriation) transition tax
IRS has released Publication 5292 (How to Calculate Section 965 Amounts and Elections Available to Taxpayers).Code Sec. 965, which was amended by …
IRS Notice explains new business interest expense limitations
In a Notice and accompanying news release, IRS has provided guidance for computing the business interest expense limitation under Code Sec. …
Thomson Reuters Checkpoint Special Study: Tax “extender” provisions in the Bipartisan Budget Act of 2018
On February 9, Congress passed, and the President signed into law, H.R. 1892, the “Bipartisan Budget Act of 2018” (the …