Protecting Donors of Tax-Exempt Organizations - Bill Passes House

On April 26, 2016, H.R.#5053, Preventing IRS Abuse and Protecting Free Speech Act, was introduced by the sponsor and author, Congressman Peter Roskam (R-IL). ... read more >

Pennsylvania Department of Revenue Establishes New Unit

In its most recent newsletter, the Pennsylvania Department of Revenue announced the creation of a new unit within the Department for the purpose of conducting ... read more >

The Bipartisan Manufacturing Competitiveness Bill and What It Could Mean to the U.S. Manufacturing Industry

On April 13, the House Ways and Means Committee introduced the American Manufacturing Competitiveness Act of 2016 (the "Act"), which was eventually ... read more >

The New War on Tax Avoidance

Is no place safe for large multinationals to engage in tax planning? It seems that the current mantra is “pay your fair share” — uttered ... read more >

Is Your Construction Company Treating Automobile Allowances Correctly?

A recent post on the Construction Financial Management Association (CFMA) website posed the question, “Are car allowances always taxable?” ... read more >

Tax Treatment of Deferred Revenue in a Taxable Stock Acquisition

The general rule under Internal Revenue Code §451 is that an item of income shall be included in gross income for the taxable year or receipt unless ... read more >

A Reminder on the Reporting of Foreign Banks and Financial Accounts (FBAR)

An important deadline is coming up for taxpayers who have an interest in foreign financial accounts with an aggregate value of $10,000 or more at any one ... read more >