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Tax, Tax Reform
| 6.20.2018

IRS Releases Guidance Regarding TCJA Higher Education Excise Tax on Net Investment Income

On June 8, 2018, the IRS released Notice 2018-55 (“Notice”) regarding the Tax Cuts and Jobs Act's 1.4% excise tax on the net investment

Benefits, Higher Education, Not-for-Profit, Tax Reform
| 5.10.2018

IRS Clarifies Treatment of Transportation Fringe Benefits for Tax-Exempt Employers

The IRS recently released subsequent guidance on an issue we discussed in a previous Our Thoughts On article (see here). In late March, the agency updated

Benefits, Higher Education, Not-for-Profit, Tax Reform
| 5.10.2018

IRS Releases FAQs on Family Medical Leave Act Credit

The IRS recently posted to its website FAQs regarding the new Internal Revenue Code Section 45S, "Employer Credit for Paid Family and Medical Leave"

Internal Revenue Service, Tax
| 3.15.2018

One-Time Fuel Credit Claims Begin April 2 for 180 Days

The IRS recently released Notice 2018-21 that provides, among other things, guidance to taxpayers regarding the Biodiesel Mixture Credit, the Alternative

Internal Revenue Service, Tax, Tax Reform
| 3.15.2018

IRS Reacts To Perceived Loopholes Under The Tax Cuts and Jobs Act

Taxpayers attempting to take advantage of perceived loopholes in the Tax Cuts and Jobs Act ("TCJA"),beware: the IRS has been quick to respond

Human Resources, Tax, Tax Reform
| 3.8.2018

Employer Tax Credit for Paid Family and Medical Leave

The Tax Cuts and Jobs Act ("TJCA") provides a general business credit to qualifying employers that provide paid leave pursuant to the Family

Tax, Tax Reform, Transportation & Logistics
| 2.13.2018

Business Interest Deduction

The Tax Cuts and Jobs Act (“the Act”) provides for new limits on the business interest deduction that may impact the transportation industry.

Tax, Tax Reform, Transportation & Logistics
| 2.13.2018

TAX REFORM: A NEW DEDUCTION FOR INDIVIDUALS - 20% QUALIFIED BUSINESS INCOME DEDUCTION

The Tax Cuts and Jobs Act provided non-corporate taxpayers (e.g., S-corporations, partnerships, limited liability companies, and sole proprietorships)

Tax, Tax Reform, Transportation & Logistics
| 2.13.2018

Like-Kind Exchanges No Longer Available for Personal Property

Effective after December 31, 2017, the Tax Cuts and Jobs Act (“the Act”) repeals the favorable deferral of gain generated by like-kind exchanges

Cybersecurity, Internal Revenue Service, Tax
| 1.19.2018

Payroll Personnel, Beware of W-2 Scam

The IRS has urged employers to notify their payroll department of a W-2 phishing scam that affected hundreds of organizations—and hundreds of thousands

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