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Meals continue to be deductible under new IRS guidance
The IRS has issued guidance clarifying that taxpayers may generally continue to deduct 50% of the food and beverage expenses associated with operating their trade or business, despite changes to the meal and e
IRS to Host Crumbling Foundations Webinar Oct. 24
At 10 a.m. on Wednesday, October 24, the IRS will host a free one-hour web conference on "Claiming Casualty Losses on Deteriorating Concrete Foundations Caused by the Mineral Pyrrhotite." The web conference will include a discussion of the...
3 Revenue Opportunities for CPAs From the TCJA
As CPAs’ understanding of the Tax Cuts and Jobs Act (TCJA) begins to grow, so too do opinions on how to best take advantage of the revenue opportunities it provides.
Deadline for new depreciation deduction fast approaching
IRS issues guidance on Tax Cuts and Jobs Act changes on business expense deductions for meals, entertainment
The Internal Revenue Service issued guidance today on the business expense deduction for meals and entertainment following law changes in the Tax Cuts and Jobs Act (TCJA). The 2017 TCJA eliminated the deduction for any expenses related to...
How to Reap Rewards From the New Tax Law
To borrow an old proverb from the farming community, it’s time for tax practitioners to “make hay while the sun shines.” What’s responsible for the favorable climate? The answer: the Tax Cuts and Jobs Act (TCJA). This monumental new tax...
DRS: Pass-Through Entity Tax Estimated Payment Recharacterization Form Released
As a follow-up to prior DRS guidance and Special Notice 2018(4), Guidance on 2018 Estimated Payments for the Newly Enacted Pass-Through Entity Tax , taxpayers should note that forms for pass-through entity tax estimated payment recharacterization...
Will Congress Restrict States’ Right to Tax Remote Sales?
Some members of Congress think they should limit the way states can tax sales by sellers with no physical presence in the state. To that end, Wisconsin Representative Jim Sensenbrenner has introduced the Online Sales Simplicity and Small...
IRS to propose regs on market discount for bonds
The Internal Revenue Service and the Treasury Department said Friday that, in response to taxpayer requests for guidance, they will issue proposed regulations clarifying that the market discount on a bond is not includible in income under Section...
IRS alerts taxpayers: Scammers scheming around Oct. 15 deadline; Here’s what to do
The Internal Revenue Service is reminding taxpayers to beware of criminals who continue using devious tactics to steal money and personal information from unsuspecting victims, especially as the fall season approaches.

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