Guidance Clarifies When Dividends Are Qualified Performance-Based Compensation
The IRS ruled on whether dividends paid on restricted stock were qualified performance-based compensation excluded from the applicable employee remuneration to which the $1 million limitation on the deduction for compensation by publicly held corporations applies
Published on June 26, 2012
Oversight Board Identifies IRS Problems
The IRS Oversight Board released its annual report to Congress on May 12, describing the IRS’ performance during fiscal 2010 and its progress in meeting the goals in its strategic plan
Published on May 13, 2011
AICPA Summarizes IRS Strengths and Weakness for the Oversight Board
In a testimony before the IRS Oversight Board, the AICPA provided comments on: (1) the future direction of electronic tax administration, (2) enforcement challenges, (3) effective collection strategies, and (4) workforce empowerment.
Published on September 10, 2012
Long-Awaited Final Regs. Issued on Noncompensatory Partnership Options
The IRS issued regulations on the treatment of certain call options, warrants, convertible debt, and convertible equity that are not issued in connection with the performance of services, i.e., noncompensatory partnership options
Published on February 05, 2013
Illinois Click-Through Nexus Law Held Unconstitutional
The Circuit Court for Cook County in Illinois issued an eagerly awaited order explaining its bench decision on April 25, which declared Illinois’s “click-through nexus” law unconstitutional.
Published on May 10, 2012
Other AICPA Standards and Ethics Rules
Members who provide tax services are subject to not only the Statements on Standards for Tax Services (SSTS), but also the AICPA Code of Professional Conduct, including all general and technical standards.
Published on February 23, 2011
Sample Text for Sec. 83(b) Election Released by IRS
The IRS released sample language for making the Sec. 83(b) election and examples of the amount of income taxpayers would recognize if they made the election.
Published on June 27, 2012
Internet Tax Freedom Act Preempts Illinois Click-Through Nexus Law
The Illinois Supreme Court held that Illinois’s click-through nexus law is expressly preempted by the federal Internet Tax Freedom Act, which prohibits states from imposing discriminatory taxes on electronic commerce.
Published on October 22, 2013
Prop. Regs. Clarify Meaning of Substantial Risk of Forfeiture Under Sec. 83
The IRS issued proposed regulations that would clarify when a substantial risk of forfeiture exists on the transfer of stock to an employee that is treated as compensation under Sec. 83.
Published on May 30, 2012
TIGTA Calls for Improvements to IRS Volunteer Tax Prep. Program Database
TIGTA reported on its study of the IRS’s monitoring of volunteer tax preparation services.
Published on March 29, 2012