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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 ... read more >

Use Tax - To Report or To Collect and Remit: That is the Question

If the United States Supreme Court upholds the physical presence standard in its South Dakota v. Wayfair opinion, many remote sellers lacking the physical ... read more >

IRS releases guidance to taxpayers for changing accounting methods to conform to financial accounting revenue recognition standards

On May 10, 2018, the IRS released Revenue Procedure 2018-29 (hereinafter Rev. Proc. 2018-29) to provide new, automatic procedures for taxpayers changing ... read more >

Congressional Research Service Releases Tax Policy Options on College Endowments

Educational institution endowments have come under attack from all sides lately. Whether it is the new excise tax on net investment income, a Congressman ... read more >

Tariffs Pose Challenge to Construction Firms

Construction|Tax

By Dave Foutz

Earlier this year, there were New Tariffs Proposed on Steel and Aluminum by President Trump. The tariffs amount to 25% on steel and 10% on aluminum imports. ... read more >

IRS Announces 2017 Marginal Well Credit for Marginally Producing Natural Gas Properties

Natural gas well owners holding an operating interest in a qualified marginal well during 2017 are eligible to claim a $0.51 credit per qualified MCF, ... read more >

Pennsylvania Provides Clarification on Application of Nextel Decision

The Pennsylvania Department of Revenue recently released Corporation Tax Bulletin 2018-02 to clarify its position on the application of the decision issued ... read more >

New Revenue Procedure for Contributors Making Donation to Tax-Exempt Organizations

New Revenue Procedure 2018-32 modifies, consolidates and supersedes Rev. Proc. 81-6, Rev Proc. 81-7, Rev. Proc. 89-23 and Rev. Proc. 2011-33 in providing ... read more >