IRS Issues Final REGs on Deduction for Qualified Transportation Fringe and Commuting Expenses
The IRS has issued final regs on the deductions for qualified transportation fringe and commuting expenses following changes made by …
Tax Policy Outlook Uncertain as Key Senate Races Head to Runoff
By Melissa A. Oaks, J.D., LL.M. …
Final REGs on SEC. 958(b) Ownership Attribution Rules
The IRS has issued final regs on the ownership attribution rules under Code Sec. 958(b); that Code section was modified by …
Final REGs Clarify Definition of Qualifying Relative
The IRS has issued final regs that clarify the definition of qualifying relative for purposes of various provisions of the …
Proposed Reliance REGs on Disallowed Transportation and Commuting Expenses
IRS has issued proposed reliance regs that reflect the 2017 Tax Cut and Jobs Act (P.L. 115-97, TCJA) rules that eliminate …
IRS Proposes Reliance Regs on Contribution Limits to ABLE Accounts
The IRS has proposed reliance regs under Code Sec. 529A that provide guidance on the amended contribution limits applicable to …
Federal Court Dismisses States’ Challenge to SALT Deduction Cap
A federal district court has dismissed four states’ constitutional challenge to the state and local tax (SALT) deduction cap enacted …
IRS Updates Enrolled Agent Rules and Procedures
The IRS has updated its enrolled agent (EA) news webpage with information about the new EA logo, enrollment renewal, and …
IRS Finalizes 199A Rental Real Estate Safe Harbor
In a Revenue Procedure and accompanying News Release (Rev Proc 2019-38, 2019-42 IRB; IR 2019-158, 9/24/2019), IRS has finalized a …
IRS Finalizes Bonus Depreciation Regs
IRC §168(k) allows an additional first-year (“bonus”) depreciation deduction in the placed-in-service year of qualified property. In August 2019, IRS …