Supreme Court Upholds Health Insurance Subsidies in Federal Exchanges
The Supreme Court upheld the availability of premium tax credits under Sec. 36B when they are provided through health exchanges run by the federal government.
Published on June 25, 2015
Congress Makes Changes to Tax Code in Trade Preferences Act
The Trade Preferences Extension Act of 2015 contains tax provisions in addition to the trade measures that were the focus of the bill.
Published on June 25, 2015
Proposed Rules for ABLE Accounts for the Disabled Are Issued
The IRS issued proposed regulations implementing Sec. 529A, which authorizes states to offer specially designed tax-favored accounts for the disabled (ABLE accounts).
Published on June 19, 2015
IRS Issues Guidance for Multiemployer Plans to Apply For Benefit Suspension Approval
The IRS issued temporary and proposed regulations that provide guidance for multiemployer pension plans that are in critical and declining status and therefore may be permitted to suspend benefits under the Multiemployer Pension Reform Act of 2014.
Published on June 17, 2015
IRS Issues Final Portability Rules for Estate Tax Exemptions
The IRS issued final rules governing the requirements for electing portability of a deceased spousal unused exclusion amount to the surviving spouse and the rules for the surviving spouse’s use of the amount.
Published on June 15, 2015
Tax Industry and IRS Team Up to Fight Identity Theft Refund Fraud
Tax software vendors will share analytical information about their customers’ tax filings with the IRS under new agreement announced by the IRS.
Published on June 12, 2015
IRS Corporations Cannot Circumvent Gain on Appreciated Property Using Partnerships
The IRS issued regulations that take aim at transactions that attempt to avoid the repeal of the General Utilities doctrine.
Published on June 11, 2015
Bright-Line Test Determines Substantial Business Activities Under Inversion Rules
Final regulations were issued for determining when an expanded affiliated group will be considered to have substantial business activities in a foreign country, which allows a foreign corporation to escape application of the inversion rules.
Published on June 03, 2015
Expanded IRS Online Services Put Taxpayer Information at Risk, Senate Committee Told
By expanding its online services, the IRS is putting taxpayers’ data at greater risk, the Treasury Inspector General for Tax Administration told Congress.
Published on June 02, 2015
New Accounting Method Change Procedures Give More Time to File Form 3115
Taxpayers affected by the tangible property regulations will have more time to file Form 3115 under Rev. Proc. 2011-14 according to revised procedures issued by the IRS.
Published on June 01, 2015
IRS Asks for Comments on Accounting Method Changes for Proposed Revenue Recognition Standards
The IRS asked for comments on what effect the new proposed financial accounting revenue recognition standards should have on taxpayers’ methods of accounting
Published on May 29, 2015
Thieves Access IRS Get Transcript App, 100,000 Accounts Compromised
The IRS announced on Tuesday that criminals have used taxpayer-specific information to gain access to approximately 100,000 taxpayers’ accounts through the IRS’s Get Transcript online application and steal those taxpayers’ data.
Published on May 26, 2015
Tax Reform, Lower Rates Among Top Legislative Goals, Ryan Tells AICPA
Rep. Paul D. Ryan, R-Wis., outlined his priorities since taking over House Ways and Means Committee leadership to members of the AICPA’s spring Council meeting in Washington.
Published on May 19, 2015
Supreme Court Invalidates Marylands Personal Income Tax Structure
The Supreme Court held that the personal income tax system imposed by the state of Maryland, which did not give taxpayers a credit against their county income tax for taxes paid to other states, violates the dormant Commerce Clause
Published on May 18, 2015
Basis Rules for Estates of 2010 Decedents Proposed
Proposed regulations would apply to decedents who died in 2010 and whose executors elected under Sec. 1022 to not have the retroactively reinstated estate tax apply to the decedents’ estates.
Published on May 08, 2015