Proposed House Bill Would Eliminate State and Local Tax Deduction Cap
House Democrats have proposed a bill that would remove the $10,000 cap on state and local tax (SALT) deductions. Called the “Restoring Tax Fairness
TCJA – Could 2019 Taxable Income be Higher than Projected?
As we approach the end of 2019, two separate changes in reporting of gross income from providing goods and/or services could combine for an unpleasant
IRS Releases Advance Payment Proposed Regulations for Accrual Method Taxpayers, Providing One-Year Deferral
On September 5, the IRS released guidance in the form of proposed regulations (Prop. Reg. §1.451-8) that address the receipt of payments from customers
Advance Payments: Potential for Longer Term Deferral under Newly Issued Regulations, Repeal of Regulation §1.451-5
Back in July, the IRS formally removed regulation §1.451-5 from the Code of Federal Regulation. The regulation had permitted some companies to defer