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AICPA recommends priorities for IRS tax guidance
On June 14, the AICPA submitted a letter to the IRS recommending priorities for guidance the Service should issue under the 2018-2019 IRS Priority Guidance Plan. In late April, the IRS in Notice 2018-43 asked the public to comment on items of tax...
Accounting Today: Connecticut issues guidance on pass-through tax credit
The Connecticut Department of Revenue Services released guidance this week on the recently enacted Pass-Through Entity Tax Credit, which state lawmakers approved this spring as a way to get around limits in the new federal tax law on state and...
John Ermer of Beers, Hamerman, Cohen & Burger Quoted in Bloomberg Article "New York, Connecticut Taxpayers Have Plan B Options to Beat SALT"
Taxpayers in New York and Connecticut still have a few potential options to avoid the hit from a new cap on state and local tax deductions, while residents of other high-tax jurisdictions may only have creative estate planning as a last resort.
New form may simplify tax compliance for seniors
According to Adam Smith's Canons of Taxation, the tax compliance function in any society needs to be convenient. This has not always been the case for many seniors in the United States. Form 1040EZ, Income Tax Return for Single and Joint Filers...
Why the NJ Sales Tax Move is Important
The Supreme Court decision in South Dakota v. Wayfair, Inc. has inspired numerous states to adopt new sales and use tax policies in order to increase remote sales tax collection, New Jersey has joined those growing ranks. As of October 1,...
IRS blocks Connecticut plan to bypass SALT tax deduction cap
The U.S. Treasury Department on Thursday issued new rules aimed at preventing taxpayers in Connecticut and other high-income and high-cost states from avoiding a new cap on the deductibility of their state and local taxes.
Treasury, IRS issue proposed regulations on charitable contributions and state and local tax credits
Today the U.S. Department of the Treasury and the Internal Revenue Service issued proposed regulations providing rules on the availability of charitable contribution deductions when the taxpayer receives or expects to receive a corresponding...
IRS Guidance Impacts Treatment of Parking Expenses
The IRS on Aug. 21 issued interim guidance on the provision in the new tax law that requires separate computation of unrelated business income tax (UBIT) for tax-exempt organizations with more than one unrelated trade or business.
DRS Issues Guidance Regarding the Passthrough Entity Tax Credit
This preliminary guidance is intended to provide information to partners about the credit available under the Pass-Through Entity Tax (“PE Tax”). This guidance may be updated as needed to answer additional questions.
How TCJA Changes for Section 168(k) May Adjust
The IRS has published in the Federal Register proposed regulations that provide guidance concerning the additional first year depreciation deduction under Section 168(k) of the Internal Revenue Code. The proposal reflects changes made under the...

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