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Planning for 2017 Form 1042-S Changes
Form 1042-S, Report of Foreign Persons' U.S. Source Income Subject to Withholding, has several additional reporting requirement changes for 2017. The ... read more >
OUR THOUGHTS ON:
Tax
The IRS May Reject Faulty Paper Filed Exempt Organization Returns
Electronically submitted tax returns that are incomplete or incorrect are rejected automatically by the IRS. However, faulty paper-filed returns do not ... read more >
How Do the New Revenue Recognition Rules Impact Tax?
Most companies are aware of the new Accounting Standards Update for revenue recognition related to when revenue from contracts with customers for goods ... read more >
Ohio's 2018-2019 Budget
On June 30, 2017 Governor Kasich signed House Bill 49, a FY2018-2019 budget for the state of Ohio. The Ohio Society of CPAs and practicing CPAs alike seem ... read more >
MOBILE WORKFORCE LEGISLATION APPROVED BY HOUSE
The U.S. House of Representatives approved the “Mobile Workforce State Income Tax Simplification Act of 2017” (H.R. 1393) on June 20, 2017. ... read more >
New Proposed Partnership Audit Regulations Released - Part I
This article was co-written by Natasa Capuzzi. Back in February we discussed the impact of tax-related matters as a result of President Trump’s executive ... read more >
Vacation Homes & Like-Kind Exchanges
Now that the real estate market is picking up, it may be a good time to sell or upgrade your vacation home. Instead of selling your vacation home to buy ... read more >
Internal Revenue Service Disagrees with Stine Ruling on When Depreciation Starts
One benefit to owning a building is the ability to expense it over time. Tax depreciation starts on an asset’s “placed in service date,” ... read more >
Red Flags in Reasonable Compensation
How does an IRS agent determine that an organization might have a reasonable compensation issue? We can look to the Reasonable Compensation Job Aid for ... read more >
IRS to Revise Form 1023-EZ, Streamlined Application for Recognition of Exemption
On July 1, 2014, the Internal Revenue Service (IRS) introduced the highly scrutinized Form 1023-EZ, Streamline Application for Recognition of Exemption ... read more >
