House Committee approves bills on health care reform, taxes
The House Ways and Means Committee on July 13 approved eleven bills which focus on delaying the implementation of some …
IRS casts doubt on 2017 deduction for 2018 NJ property taxes paid in 2017
Information Letter 2018-0009 In an Information Letter, IRS has implied that actions taken in Dec. 2017 by then New Jersey …
Trump expects new tax law in October with even lower corporate rate
As reported by Reuters, President Trump said he expects a second tax overhaul to be unveiled in October or a …
What’s new for 2018: Game-changing tax overhaul in place for individuals—Part II
The new tax year is a true game-changer for taxpayers and their advisers, as many fundamental, decades-old tax rules have …
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 …
IRS updates Q&As on return filing and tax payment for Sec. 965 transition tax
IRS has updated Frequently Asked Questions (FAQs) on the transition tax imposed by Code Sec. 965, as added by the Tax …