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Business Meals Remain Deductible
On Wednesday, October 3, 2018, the Internal Revenue Service (IRS) issued Tax Notice 2018-76 confirming our conclusion reached in March 2018 that certain ... read more >
OUR THOUGHTS ON:
Tax
IRS Releases 2018 Draft of Excise Tax Form 4720; Includes Schedules for Exempt Organizations
Two new excise taxes added by the recently enacted Tax Cuts and Jobs Act may apply to exempt organizations, for tax years beginning after December 31, ... read more >
Key Oil and Gas Provisions Remain Through Tax Reform
While there have been sweeping changes due to the Tax Cuts and Jobs Act of 2017, a few key components that taxpayers in the oil and gas industry have routinely ... read more >
New Submission Requirements for Forms 1099-MISC
The Protecting Americans from Tax Hikes (PATH) Act of 2015 updated the due date filing requirements for Forms 1099-MISC as follows: January 31 - Reporting ... read more >
Understanding and Calculating Economic Nexus Thresholds for Sales and Use Tax
While a few states such as Hawaii and Vermont already have active economic nexus provisions in place for sales and use tax, remote sellers are anxiously ... read more >
Administrative Expenses for Trusts and Estates Will Remain Deductible
The Internal Revenue Service (the “IRS”) has announced in Notice 2018-61 (the “Notice”) that it plans to issue regulations clarifying ... read more >
Free Speech/Privacy Advocates Score Significant Victory with Changes to Form 990 Schedule B Disclosure Requirements
Advocates of free speech and personal privacy scored a significant victory with the Service's recent release of Revenue Procedure 2018-38. Effective ... read more >
Aretha Franklin Left no Will - What Happens Next?
On August 16, 2018, a saddened world mourned the passing of legendary vocalist and songwriter Aretha Franklin. Known affectionately to her fans as the ... read more >
IRS Provides Guidance on What Constitutes a Covered Employee under Code Sec. 162(m)
On August 22, the IRS issued Notice 2018-68, providing guidance on the application of section 162(m), which generally limits the amount of a deduction ... read more >
The interplay of the new charitable deduction regulations and state and local tax credits
There is a lot of concern, and possibly even misconceptions, regarding the (practical) impact of the proposed charitable contribution regulations that ... read more >
