IRS obsoletes old employment tax rulings
Rev Rul 2018-20, 2018-28 IRB 8 In a Revenue Ruling, IRS, continuing its program of reviewing Revenue Rulings published in …
IRS adds five new issues to LB&I’s campaign audit strategy
New compliance campaigns Continuing a process that it began in January 2017, IRS Large Business and International division (LB&I) has …
Favorable U.S. tax ruling gives limited boost to big-box retailers
By April Joyner, Caroline Valetkevitch, Vanessa O’Connell, Nandita Bose, Hillary Russ; New York, Jeffrey Dastin; San Francisco and Caroline Hroncich …
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 …