March 25, 2011 Tax E-Alert Join a Tax Section Technical Resource Panel or Committee
This newsletter contains information regarding: FAQs on PTIN Registration Process, Carried Interest, Schedule UTP, Mailing Tax Returns to IRS Using a Private Delivery Service, Form 709 and Instructions, Practitioner Responsibilities Regarding Foreign Financial Accounts
Published on February 28, 2012
Presidents Jobs Bill Contains Many Tax Proposals
...and among its provisions are several tax items, including a temporary payroll tax cut, a limit on itemized deductions for certain high-income taxpayers, and a proposal to tax carried interests as ordinary income rather than capital gains
Published on September 12, 2011
This section covers partnership taxation issues. It contains articles, tools and practice aids, as well as comment letters pertaining to legislative matters and IRS regulation and administration.
Published on August 08, 2014
June 14, 2011 Tax E-alert IRS Releases Final Circular 230 Revisions
This newsletter contains information regarding: Circular 230 Revisions, Organizations that Have Lost Tax-Exempt Status, IRS Invites Preparers to Participate in Job Analysis Survey.
Published on February 28, 2012
Proposed Revenue Ruling - Treatment of Noncapital, Nondeductible Expenses with Respect to an S Corporation Shareholder
When an S corporation has nondeductible items such as a portion of meal and entertainment expenses, the shareholders must reduce stock basis by the pro rata share of such expenses before reducing basis for deductible losses, thus effectively reducing basis available for deductible losses. Generally, if non-deductibles reduce basis to
Published on September 07, 2009
Proposed Rules Would Require Terminating Partnerships to Amortize Startup Expenditures
The IRS issued proposed regulations aimed at preventing partnerships from using technical terminations to accelerate their deductions of startup and organizational expenses.
Published on December 06, 2013
Adoption Tax Credit Guidance Released
The IRS issued interim guidance September 29 on the child adoption credit and income exclusion for employer reimbursements of adoption expenses, as expanded by the Patient Protection and Affordable Care Act.
Published on September 29, 2010
IRS Explains Sec. 179 Qualified Real Property Allocations and Procedures for Filing Amended Returns
The explained how the retroactive extension of the Sec. 179 rules operates when applied to qualified real property and how to allocate the portion of gain attributable to the qualified real property upon disposition or to calculate any carryover.
Published on September 10, 2013
House Passes Tax Extenders Bill
The House passed the American Jobs and Closing Tax Loopholes Act, which extends a large number of expired tax provisions through 2010.
Published on May 28, 2010
Health FSA Use-It-Or-Lose-It Rule Modified to Allow a $500 Carryover
The IRS will now permit companies to amend their cafeteria plans to allow participants in health FSAs who do not use all of the money in a plan year to use up to $500 in the next plan year, in addition to the regular $2,500 limit during the succeeding year.
Published on November 01, 2013