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  • Tax Research - Parker Tax Pro Library - In-Depth Tax Analysis
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  • Tax and Accounting - CPA Client Letters - Parker Tax Pro Library
  • Tax & Accounting Research - Tax Updates June 2021
  • Federal Tax Research Library - Parker's Tax Bulletin - September 23, 2020
  • Professional Tax Research Library - Client Testimonials - Parker Tax Publishing
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  • Purchase of U.S. Residential Property from a Foreign Entity Causes Withholding Tax Headaches for ...
  • Supreme Court Allows Challenge to Micro-Captive Insurance Transaction Reporting Requirements to ...
  • New Procedures Allow Taxpayers Who Don't File 2020 Returns to Access Tax Benefits.
  • IRS Guidance Provides Details on Temporary COBRA Premium Assistance.
  • IRS Issues 2022 Inflation Adjusted Amounts for Health-Related Arrangements.
  • Estate of Michael Jackson Wins Favorable Ruling in Valuation Dispute with IRS.
  • Circuits Split on Jurisdiction Over Claims for Overpayment Interest.
  • Net Investment Income Tax Applies to Dividends Received by Majority Shareholder.
  • IRS Addresses Dependent Care Benefits Under Extended Claims or Carryover Period.
  • Court Upholds Third-Party Summons on Cannabis Dispensary's Software Vendor.
  • Judge's Lavish Spending Precluded Discharge of Taxes in Bankruptcy.
  • Court Upholds $3 Million Penalty for Willful Failure to Report Foreign Bank Account.
  • CPA's Signature on Client's Refund Claim Doesn't Pass Muster; No Refund Allowed.
  • Ninth Circuit Upholds Denial of Cannabis Dispensary's Claimed Exclusions.
  • IRS Won't Follow Tax Court's Ruling in Insolvency Exception Case.
  • Drug Manufacturer Must Capitalize Certain Legal Expenses Incurred in Obtaining Patents.
  • Certain 2020 PPP-Related Expenses Are Deductible in 2021; Amended Returns Not Required.
  • Substantial Discretionary Spending Didn't Preclude Discharge of Taxes in Bankruptcy.
  • Taxpayer Can't Recoup Damages for Coin Collection Seized During Search of Her Home.
  • Tax Court Rejects Constitutional Challenge to IRS Certification of Delinquent Tax Debts.
  • Clothing Company's Design Process Doesn't Qualify for Research Credits.
  • IRS Suspends Repayment of Excess Advance Payments of the 2020 Premium Tax Credit.
  • Tax Court Holds That Split-Dollar Insurance Benefits Are Guaranteed Payments.
  • IRS Provides Guidance on Temporary 100-Percent Deduction for Business Meal Expenses.
  • IRS Clarifies Rules for 2021 Employee Retention Tax Credit.
  • Second Circuit Upholds Lump Sum Garnishment Order as Restitution for Tax Crimes.
  • D.C. Circuit Affirms Tax Court's Ruling That Investment Partnership Was a Sham.
  • Court Upholds Constitutionality of Passport Revocations for Delinquent Tax Debts.
  • TCJA Change to Gambling Loss Limit Applies Only to Individuals.
  • Amounts Paid for Certain Personal Protective Equipment Treated as Medical Expenses.
  • Ninth Circuit: Late FBAR Penalty Applies Per Filing, Not Per Account.
  • SBA Updates PPP Guidance for Changes Made by Recent Legislation.
  • IRS Postpones Multiple Tax Filing and Payment Deadlines.
  • Taxpayers' Closing Agreement on FBAR Penalties Wasn't Entered Under Duress.
  • Payments to Microcaptive Insurance Company by Family Business Aren't Deductible.
  • Faxing a Courtesy Copy of Taxpayer's Return to IRS Doesn't Qualify as a "Filing".
  • Business Owner's Reliance on Competent Bookkeepers Helps Avoid Penalties.
  • Court Holds Certain Purchases Using Credit Card Rewards Are Taxable.
  • SBA Loosens Rules on PPP Loan Amount Calculations and Eligibility Requirements.
  • IRS Provides Updated FAQs and Examples on Employee Retention Credit.
  • Congress Passes $1.9 Trillion Covid Relief Package Loaded with Tax Provisions.
  • CPA Sample Client Letter: American Rescue Plan Act.
  • Court Values Estate's LLC Interests; Discounts Apply to Split Donation.
  • Eighth Circuit Reverses Tax Court; Virgin Islands Tax Return Did Not Trigger Statute of Limitations.
  • Bankruptcy Court Allows Debtors to Retain Their Tax Refund for Necessary Expenses.
  • Medical Cannabis Dispensary's Claimed Deductions Go Up In Smoke In Tax Court.
  • Tax Court Allows Taxpayer to Disregard Form of Transaction Under Step Transaction Doctrine.
  • IRS Provides Additional COVID-19 Relief Guidance for Cafeteria Plans.
  • Tax Court Upholds Denial of $5.4 Million Deduction for Conservation Easement.
  • First Circuit Upholds Garnishment Order on Convicted CFO's Retirement Account.
  • Additional Tax on Early IRA Withdrawals Doesn't Require IRS Supervisory Approval.
  • Farming Activity Was Not a Trade or Business; Expenses Must be Capitalized as Start-Up Costs.
  • Tax Court Denies Attorney's Deductions for Lodging and Travel Expenses.
  • IRS Provides Safe Harbor for Eligible Educators to Deduct Unreimbursed PPE Expenses.
  • SBA Issues Interim Final Rule on New Changes to Paycheck Protection Program.
  • IRS Not Required to Separately Assess Transferees for Transferor Liability.
  • Exxon Mobil Avoids $200 Million Penalty for Erroneous Refund Claim.
  • Payments to Shareholders Were Disguised Dividends, Not Deductible Management Fees.
  • Notice Mailed to Address Shared with Other Businesses Started 30-day Filing Deadline.
  • IRS Addresses Calculation of Specified Cooperatives' W-2 Wages Under Sec. 199A.
  • IRS Provides Penalty Relief to Partnerships for Form 1065 Reporting Inaccuracies.
  • IRS Finalizes Regs on TCJA Disallowance of Deduction for Fines and Penalties.
  • SBA Issues Guidance on Re-Opened Paycheck Protection Program.
  • Fourth Circuit Affirms Denial of Charitable Deduction for "Donation" of Home.
  • Reversing Tax Court, Third Circuit Holds That IRS Did Not Send Notice to Taxpayer's Last Known ...
  • IRS Grants Temporary Relief for Employers Using Automobile Lease Valuation Rule.
  • IRS Issues Final Regs on Sec. 163(j) Interest Expense Deduction Limitation.
  • IRS Obsoletes Previous Guidance on Deductibility of PPP Loan Expenses.
  • Top 10 Tax Developments of 2020.
  • February 1 Deadline Looms for Forms W-2 and 1099-MISC, and New Form 1099-NEC.
  • CPA Sample Client Letter: Requirement to File Forms 1099.
  • Taxpayer Serving as "Voice of Organization" Is Liable for Penalties as Nonprofit's Alter Ego.
  • Business, Medical, and Moving Standard Mileage Rates Decrease for 2021.
  • Approaching Deadlines for Forms W-2 and 1099s; What to Do About Missing Forms.
  • Final Sec. 451 Regs Introduce New Methods for Income Inclusion and Cost Offsets.
  • IRS Finalizes Simplified Tax Accounting Regulations for Small Businesses.
  • President Signs $900 Billion Covid Relief Package; Paycheck Protection Program Expanded.
  • Third Circuit Upholds Attorney's Conviction for Failing to Collect and Pay Payroll Taxes.
  • Taxpayer's Conduct in Violating FBAR Rules Was Reckless; Higher Penalties Apply.
  • IRS Finalizes Regulations on Extended Rollover Period for a Qualified Plan Loan Offset.
  • Partnership Tax Insurance Premiums Are Nondeductible.
  • Corporation Was Required to Report Notes Received on Sale of Products as Income.
  • Statute of Limitations Bars Backup-Withholding Assessment Despite Business Owner's Failure to ...
  • IRS Finalizes Transportation and Commuting Expense Regs.
  • IRS Adopts Rules for Exempt Organizations with More Than One Unrelated Business.
  • Coca-Cola's Challenge to IRS Transfer Pricing Adjustments Fizzles Out in Tax Court.
  • Proposed Regs Cover Wide Array of Partnership Special Enforcement Matters.
  • Final Section 1031 Regs Eliminate "Purpose or Use Test" from Real Property Definition.
  • IRS Confirms Deductibility Rules for Expenses Paid with PPP Funds; Issues Safe Harbor.
  • Doctor Is Subject to Penalties for Failing to Report Employer Welfare Benefit Payments.
  • Ninth Circuit Upholds Tax Court's Adjustments Cement Company's Depletion Deduction.
  • Professional Employer Organization Defeats IRS Appeal in FICA Tip Credit Case.
  • IRS Allows Taxpayers to Choose to Apply Final or Proposed Bonus Depreciation Regs.
  • IRS Announces Approval of SALT Cap Workarounds Using Passthrough Entities.
  • 2020 Year-End Tax Planning for Individuals.
  • CPA Sample Client Letter: 2020 Year-End Tax Planning for Individuals.
  • Beneficiary Is Liable for Estate Taxes as a Result of Transfers Received.
  • Eleventh Circuit Reverses Decision Disallowing Conservation Easement Deductions.
  • Tax Prep Software Troubles and Incompetent Employees Don't Negate Penalties.
  • Tax Court: Gambling Losses Were Substantiated Using Statistical Analysis.
  • IRS Releases Retirement-Related COLAs; 401(k) and IRA Contribution Limits Unchanged.
  • IRS Issues Inflation-Adjusted Amounts for 2021.
  • 2020 Year-End Tax Planning for Businesses.
  • CPA Sample Client Letter: 2020 Year-End Tax Planning for BUSINESS.
  • Employer Must Withhold and Report Plan Payments to Unclaimed Property Funds.
  • Daily Fantasy Sports Fees Are Amounts Paid for Wagering Transactions.
  • IRS Updates List of Permissible Reasons for 60-day Rollover Waiver; Includes Distributions to a ...
  • IRS Relaxes Withholding Rules on Transfers of Partnership Interests.
  • Tax Court: IRS Can't Assess 40% Penalty After Failing to Get Approval for 20% Penalty.
  • Simplified PPP Loan Forgiveness Form Exempts Certain Borrowers from Reductions.
  • Accountant Who Bungled Couple's Tax Return Couldn't Shift Blame to Their Attorney.
  • IRS Extends Replacement Period under Section 1033 for Certain Livestock Sales.
  • Prison Confinement Doesn't Excuse Failure to File Return or Make Election to Itemize.
  • IRS Finalizes Regs on Withholding on Periodic Retirement and Annuity Payments.
  • ABLE Regs Expand List of Individuals with Signature Authority over ABLE Accounts.
  • Couple Loses Deduction After Failing to Show Hours Spent on Rental Property by Others.
  • IRS Finalizes Income Tax Withholding Regs; Provides Optional Computational Bridge Entries.
  • IRS Finalizes Regs on Deductibility of Entertainment and Food or Beverage Expenses.
  • IRS Finalizes Regs Clarifying the Definition of Qualifying Relative for Years 2018-2025.
  • Couple's Lavish Spending Prevents Discharge of Taxes in Bankruptcy.
  • Taxpayer Filed a Valid Return, Despite Lack of Identity Protection PIN.
  • IRS Finalizes Eligible Terminated S Corporation Regulations.
  • Taxpayer Who Set up Nonprofit S Corporation Can't Pass Thru Losses.
  • Final Regs Address the Effect of Sections 67(g) and 642(h) on Trusts and Estates.
  • IRS Finalizes Bonus Depreciation Regs; Withdraws Partnership Look-Through Rule.
  • Fraud Conviction Overturned in Connection with Executive's 401(k) Withdrawals.
  • Minister Who Failed to Pay Self-Employment Taxes Can't Collect Social Security or Medicare.
  • Tax Court Disallows Losses from S Corp Transaction Due to Lack of Economic Substance.
  • Tax Court Rejects IRS Recharacterization of Stock Donation to Donor Advised Fund.
  • Eleventh Circuit Reverses Lower Court; Couple Can't Exclude Award from Income.
  • IRS Provides Q&A Guidance on Changes in SECURE Act and Miners Act.
  • IRS Notice on Payroll Tax Deferral Still Leaves Many Questions Unanswered.
  • SBA Loosens Loan Forgiveness Rules for Owner-Employees.
  • Taxpayer Partially Waived Work-Product Immunity by Disclosing Valuation Report to IRS.
  • Court Rejects IRS Attempt to Pierce Tile Contractor's Corporate Veil.
  • Taxpayers Substantially Complied with Requirements for Charitable Donation.
  • On Remand, Court Rejects President Trump's Challenge to Subpoena for His Tax Returns.
  • Seventh Circuit Affirms That Purported Loans Were Not Bona Fide Debt.
  • Debt Cancelled by Former Employer Was Ordinary Income, Not Capital Gain.
  • IRS Proposes Regulations on Extended Rollover Period for a Qualified Plan Loan Offset.
  • Business Groups Indicate That Many Members Will Not Defer Payroll Tax Withholding.
  • Using Property Management Company to Rent Properties Precluded Loss Deductions.
  • State Incentive Grants to Corporation Were Not Nontaxable Contributions to Capital.
  • IRS Issues Proposed Carried Interest Regs; Warns Against Circumventing Rules.
  • IRS Finalizes Regs on Charitable Donations Made in Exchange for Consideration.
  • Court Addresses Priority of Income Taxes Incurred in Year of Bankruptcy.
  • State Incentive Grants to Corporation Were Not Nontaxable Contributions to Capital.
  • Alimony and Payments to Divorce Lawyer Did Not Increase Basis of Marital Property.
  • IRS Issues Final Regs on Business Interest Expense Deduction Limitation.
  • IRS Simplifies Tax Accounting Rules for Small Businesses.
  • President Trump Signs Memorandum on Deferring Payroll Tax Obligations
  • Bankruptcy Trustee Can Avoid Tax Lien for Benefit of Bankruptcy Estate.
  • Taxpayer Should Not Have Been Precluded from Disputing Trust Fund Recovery Penalty.
  • Eighth Circuit Holds 30-Day Deadline for Filing a Tax Court Petition Is Jurisdictional.
  • IRS Proposes Redesigned Partnership Return for Tax Year 2021.
  • Mansion Was Capital Asset, Not Section 1231 Property, Despite Substantial Renovations.
  • Cancelled Debt Isn't Excludible from Income as Qualified Principal Residence Debt.
  • IRS Issues Final and Proposed Guidance on Recapturing Excess Employment Tax Credits.
  • IRS Provides Luxury Auto Depreciation Limits and Lease Inclusion Amounts for 2020.
  • Non-Willful FBAR Penalties Are Calculated Per FBAR Report, Not Per Financial Account.
  • Supreme Court Keeps Door Open for Congress to Subpoena President's Tax Returns.
  • Supreme Court: President's Tax Returns Are Fair Game for Criminal Subpoenas.
  • Tax Court Holds That Part of Taxpayer's Settlement Award Is Excludable from Income.
  • IRS Issues Guidance on Reporting Qualified Leave Wages Paid Under Families First Act.
  • President Signs Paycheck Protection Program Extension Act; New Deadline Is August 8.
  • CPA Sample Client Letter: Paycheck Protection Program Extension Act. .
  • Proposed Regs Address TCJA Changes to Transportation & Commuting Expenses.
  • Sec. 1031 Prop. Regs: Transfer of Incidental Personal Property Doesn't Taint Exchange.
  • Taxpayers Have Until August 31 to Roll 2020 RMDs Back into a Retirement Accounts.
  • IRS Expands Favorable Treatment on COVID-Related Retirement Plan Distributions.
  • SBA Clarifies Loan Forgiveness Limits for Owner Compensation; Releases New EZ Loan Forgiveness ...
  • Final 199A Regs Address Suspended Losses Included in Qualified Business Income.
  • Tax Court Petitions Delivered by a FedEx Service Not on the IRS's Formal List Were Untimely.
  • Tax Court Lacked Jurisdiction to Review Disallowed Section 1031 Exchange.
  • SBA Clarifies Loan Forgiveness Limits for Owner Compensation; Releases New EZ Loan Forgiveness ...
  • Tax Court: Transfers to Liquidating Trusts Did Not Result in Deductible Losses.
  • Proposed Regs Clarify the Definition of Qualifying Relative for Years 2018-2025.
  • Proposed Regs Address Deductibility of Certain Medical Care Payments.
  • Uncashed Check from Debtor's 401k Isn't Excludible from Bankruptcy Estate.
  • Tax Court Had Jurisdiction to Review Computational Adjustments in CDP Case.
  • Federal Circuit Reverses Claims Court for a Second Time on the Same Case; Couple Can Deduct ...
  • Tax Court Upholds Denial of Taxpayer's Qualified Residence Interest Deductions.
  • SBA Eliminates Cliff for Borrowers Using Less Than 60% of PPP Loans for Payroll Costs.
  • IRS Finalizes Rule Ending Donor Reporting Requirement.
  • Payments for Accounting Services Were Wages, Not Self-Employment Income.
  • IRS Delays Deadlines Applicable to Employment Taxes, Employee Benefits, and Exempt Orgs.
  • An In-Depth Look: The Paycheck Protection Program Flexibility Act.
  • CPA Sample Client Letter: Paycheck Protection Program Flexibility Act. .
  • New Guidance Clarifies PPP Loan Forgiveness Criteria and Calculations.
  • IRS Removes Section 385 Documentation Rules, But Keeps Distribution Rules.
  • Tax Court Reversed; Golf Course Doesn't Destroy Validity of Easement Contribution.
  • Tax Court Upholds Denial of Conservation Easement Deduction.
  • IRS Can Offset Chapter 7 Debtor's Overpayment Against Preexisting Tax Liability.
  • IRS Takes Whirlpool to the Cleaners in Case Involving Subpart F Income.
  • Proposed Regs Address Effect of Sections 67(g) and 642(h) on Trusts and Estates.
  • IRS Provides Relief Through Increased Flexibility for Taxpayers in Cafeteria Plans.
  • SBA Releases Complicated PPP Loan Forgiveness Application and Expanded FAQ.
  • IRS Provides Temporary Procedures for Faxing Certain Forms 1139 and 1045.
  • Court Disallows IRS Setoff in Farm Bankruptcy, but Can't Order IRS to Issue a Refund.
  • IRS Can't Offset Withheld Taxes Against Bankrupt Farm's Capital Gains Tax Debt.
  • Partnership Interest Was Includible in Gross Estate, Despite Transfer to Trust.
  • Prop Regs Address Calculation of UBTI for Exempt Orgs with Multiple Businesses.
  • No Deduction Allowed for Expenses Relating to Forgiven PPP Loans.
  • Contingency Involving Taxpayer's Child Precludes Alimony from Being Deductible.
  • Alternative Fuel Mixture Credit Did Not Apply to Taxpayer's Mixture of Butane and Gasoline.
  • IRS Extends Time to File Application for Tentative NOL Carryback Adjustment.
  • IRS Expands Filing and Payment Deadlines; Extends Time for Performing Certain Actions.
  • Congress Adds $310 Billion to Paycheck Protection Program; Businesses Get a Second Chance at ...
  • CPA Sample Client Letter: Paycheck Protection Program (PPP) - Additional Funding Available. .
  • Tax Court Rejects Taxpayer's Arguments for Higher Whistleblower Award.
  • Tenth Circuit Upholds Denial of Insolvency Exclusion for Discharged Debt Income.
  • IRS Issues Procedures for Waiving NOL Carrybacks.
  • Taxpayer's Farm Was Included in Gross Estate, Despite Purported Sale Before Death.
  • Individuals Can File Simplified Return to Claim CARES Act Recovery Rebates.
  • Procedures Issued for Deducting Qualified Improvement Property Depreciation for Prior Years.
  • Eleventh Circuit Upholds Denial of Taxpayer's Travel Expense Deduction.
  • IRS Provides Relief from Penalty for a Failure to Timely Deposit Employment Taxes.
  • No CDP Hearing for Couple Who Had Prior Opportunity to Dispute Tax Liability.
  • A Tax Practitioner's Guide to the Paycheck Protection Program (PPP). (Client Letter Included)
  • CPA Sample Client Letter: The CARES ACT - Paycheck Protection Program (PPP). .
  • In-Depth: A Tax Practitioner's Guide to the CARES Act. (Client Letter Included)
  • CPA Sample Client Letter: The CARES ACT - Individual and Business. .
  • President Signs Families First Coronavirus Response Act; Senate Passes $2 Trillion CARES Act. (Client Letter Included)
  • CPA Sample Client Letter: The Families First Act and The CARES Act.
  • Deadline for Income Tax Returns and Payments Postponed to July 15 due to COVID-19.
  • CPA Sample Client Letter: Coronavirus-Related Postponement of Tax Deadlines. .
  • Section 7508A(c) Provides Exception to Limitation on Interest on Overpayments.
  • CPA's Serious Illness Did Not Excuse Couple's Failure to File Tax Return on Time.
  • Supreme Court Strikes Down Rule for Allocating Tax Refunds Among Members of Consolidated Groups.
  • IRS Provides Tax Relief for Certain Foreign Trusts and Steps for Requesting Refunds.
  • Basis and At-Risk Loss Rules Apply in Determining Partner's Self-Employment Tax.
  • Tax Preparer Wins Costs and Fees after Prevailing in Action for Refund of Penalties.
  • Tax Court Rejects Constitutional Challenge to Early IRA Withdrawal Penalties.
  • High-Deductible Health Plans Can Cover Coronavirus Costs.
  • Court Orders Trial on Amount of Income Taxpayer Received in Counterfeit Check Scheme.
  • Retirement Funds Received in Divorce Settlement Were Not Exempt in Bankruptcy.
  • Taxpayer's Extravagant Lifestyle Prevents Tax Debts from Being Discharged.
  • Prop. Regs Address Federal Income Tax Withholding and Redesigned Form W-4.
  • Taxpayer's Guarantees on Loans to Related Businesses Entitled Him to Deduct Losses.
  • IRS Issues Uniform Capitalization Guidance for Farmers.
  • Proposed Regs Address Deductibility of Entertainment and Food or Beverage Expenses.
  • District Court Properly Denied Tax Protester's Request for Competency Hearing.
  • Conservation Easement Deduction Fails Due to Donor's Retained Development Rights.
  • Statute Began to Run on Date Returns Were Filed, Not on Date Taxpayer Lied to IRS.
  • Requests for Tax-Exempt Status Must Now Be Filed Electronically.
  • What to Do About Missing Forms W-2 and Forms 1099.
  • Certain Payments to Acquire Auto and Equipment Leases Must be Capitalized.
  • Final Regs Increase Maximum Value for Personal Use of Employer-Provided Vehicles.
  • Trust Fund Recovery Penalties Are Subject to Written Supervisory Approval Requirement.
  • Former Congressman's Conviction for Filing False Tax Return Affirmed.
  • Supervisory Approval Required for Listed Transaction Penalty.
  • Late Filing Penalty Did Not Apply Where Estate Tax Was Paid Before Extended Due Date.
  • Seventh Circuit: Medication-Induced Compulsive Gambling Is Not a Disability Excusing Penalty on ...
  • IRS Provides Additional Debt Relief for Certain Student Loan Borrowers.
  • Office of Chief Counsel: Relief for Failing to Timely File a Partnership Return Has Not Become ...
  • IRS Did Not Formally Communicate a Penalty Determination Before Issuing a Notice of Deficiency.
  • Tax Court Addresses Burden of Production in Penalty Supervisory Approval Cases.
  • Donors of Items Salvaged from Deconstructed Home Failed to Substantiate Donations.
  • Executor Who Transferred Estate Assets Held Personally Liable for Unpaid Estate Taxes.
  • IRS Supervisory Approval Required Before First Formal Communication of Penalties.
  • S Corporation ESOP Did Not Qualify Due to Operational and Form Failures.
  • Foreign LLC's Income Is Not Exempt from U.S. Tax under U.K. - U.S. Treaty.
  • District Court Allows Lawsuit Challenging IRS Rulemaking Procedure to Go Forward.
  • Third Circuit Upholds Tax Evasion Convictions, but Reverses Restitution Judgment.
  • Russian Citizen's Wages Are Exempt from U.S. Tax under U.S. - Russia Treaty.
  • Taxpayer Improperly Used Installment Method to Report Mobile Home Sales.
  • Final Regs Address Foreign Withholding Rules.
  • Business, Medical, and Moving Standard Mileage Rates Decrease for 2020.
  • Fifth Circuit Affirms ACA Individual Mandate Is Unconstitutional; Severability Question Remains.
  • Top Tax Developments of 2019.
  • IRS Finalizes Foreign Tax Credit and Other Foreign-Related Regulations.
  • Final Section 355(e) Regs Apply to Synthetic Spin-offs.
  • MoneyGram Can't Take an Ordinary Loss on Worthless Securities.
  • Employers' Cash Reimbursements for Malfunctioning Transit Cards Are Taxable Income.
  • Tax Court Upholds Worthless Security Deduction in Year Company Began Winding Down.
  • Proposed Regs Clarify Rules on Charitable Donations and State Tax Considerations.
  • In-Depth Analysis of Year-End Tax Act. (Client Letters Included)
  • IRS Postpones Reporting Capital Accounts on Tax Basis.
  • Appropriations Bill Includes Tax Extenders and Numerous Other Tax Provisions.
  • Currency Option Trades Lacked Economic Substance; Resulting Losses Are Disallowed.
  • 5 Percent, Not 35 Percent, Penalty Applies to Late Reported Foreign Trust Distributions.
  • No Bad Debt Deduction for Payment Properly Characterized as Capital Contribution.
  • Final Estate Regs Address Application of Increased TCJA Basic Exclusion Amount.
  • Losses from Taxpayer's Cutting Horse Activity Deductible Despite Long History of Unprofitability.
  • IRS Updates Per Diem Substantiation Methods for TCJA Changes.
  • Taxpayers Can't Sue to Stop IRS from Receiving Privileged Info from Former Attorney.
  • IRS Updates Rev. Proc. for TCJA Changes to Auto and Moving Expense Deductions.
  • Federal Circuit Upholds $803,000 Penalty for Willful FBAR Violation.
  • IRS Releases Retirement-Related COLAs; 401(k) Contribution Limit Increases to $19,500.
  • Partnership's Reporting of Partial Gain Was Enough to Preclude Extension of Statute.
  • Proposed Regs on Eligible Terminated S Corporations Introduce New Priority Rule for Sourcing ...
  • IRS Issues Inflation-Adjusted Amounts for 2020.
  • Seventh Circuit Reverses Course on Allowing Circumvention of Appeal Deadline.
  • Ambiguous IRS Notice Sinks Taxpayer's Tax Court Petition.
  • Court Nixes $155 Million Conservation Easement Deduction Due to Faulty Deed Provisions.
  • Tax Court: No Deductions Allowed for Medical Marijuana Businesses, Including Those Operating ...
  • IRS Can't Offset One Taxpayer's Deficiency Using a Related Taxpayer's Overpayment.
  • 2019 Year-End Tax Planning Guide for BUSINESSES. (Includes Sample Client Letter).
  • CPA Sample Client Letter: 2019 Year-End Tax Planning for BUSINESS.
  • An In-Depth Look: Practitioner's 2019 Year-End Tax Planning Guide for INDIVIDUALS. (Includes Sample Client Letter)
  • CPA Sample Client Letter: 2019 Year-End Tax Planning for INDIVIDUALS.
  • Cooperative's Payments to Members Were Per-Unit Retain Allocations for Section 199 Purposes.
  • Federal Circuit: Lower Interest Rate on Refunds Applies to Nonprofit Corporations.
  • Court Finds That Taxpayer's Letter to IRS Was a Timely Filed Informal Refund Claim.
  • IRS Issues Second Draft of Form 1040 and New Form 1040-SR.
  • S Corporation's AAA Resets to Zero after a Post-Termination Transition Period.
  • Finder's Fee Paid in Connection with Merger Was Not a Deductible Business Expense.
  • IRS Issues Draft Instructions for Qualified Business Income Deduction.
  • IRS Issues 2019-2020 Special Per Diem Rates.
  • Employer's Failure to File Form 945 Prevents Statue of Limitations from Applying.
  • Appeals Court Rejects Tax Fraud Restitution Order Due to Sloppy IRS Substantiation.
  • Taxpayer Not Entitled to Itemized Deductions on Substitute Return Filed by IRS.
  • IRS Extends Replacement Period under Section 1033 for Certain Livestock Sales.
  • IRS Issues Draft 2019 Forms 1065, 1120-S, and Schedules K-1.
  • District Court Upholds TCJA Limit on State and Local Tax Deductions.
  • IRS Finalizes Regs on Partnership Disguised Sales and Recourse Liabilities.
  • Final Regs Modify Qualifications for a 401(k) Hardship Distribution.
  • Taxpayer Was Entitled to Business Bad Debt Deduction for Unrepaid Loan.
  • New Bonus Depreciation Proposed Regs Issued.
  • IRS Finalizes Bonus Depreciation Regs; Clarifies Expansion of Qualifying Property.
  • IRS Expands and Finalizes Section 199A Safe Harbor for Rental Real Estate.
  • Tax Return Photocopies Aren't Subject to Frivolous Return Penalties.
  • Court Denies Motion to Expedite Lawsuit to Compel Production of President's Tax Returns.
  • Penalty Relief Provided to Exempt Orgs That Relied on Revenue Procedure 2018-38.
  • Rental Properties Subject to Management Agreements Can't be Grouped with Other Rental Activities.
  • Draft Instructions for Calculating QBI Deduction Provide Additional Guidance.
  • No Casualty Loss Deduction for Stigmatization Resulting from Flood Damage.
  • Court Rejects IRS's Classification of Partnership Interest Expense as Investment Interest.
  • Proposed Regs Implement TCJA Changes to Code Section 451 for Accrual Method Taxpayers.
  • IRS Settlement Officer Acted Unreasonably in Closing Taxpayer's CDP Case.
  • IRS Provides Relief for Domestic Partnership and S Corp Filings Under GILTI Regs.
  • Proposed Regs Increase Maximum Value for Personal Use of Employer-Provided Vehicles.
  • Taxpayer Failed to Make Delinquent 401(k) Loan Repayments Within Grace Period.
  • IRS Automatically Waiving 2018 Estimated Tax Penalty for More Than 400,000 Tax Filers.
  • Tax Court Addresses Gift Tax Valuation of Interdependent Closely-Held Companies.
  • Taxpayer Could Not Exclude Uncashed Check for a Qualified Retirement Plan Distribution from Income.
  • Fair Market Valuation Method Does Not Include an Exception for Fraudulent or Criminal Actions ...
  • District Court Invalidates Regulation Defining Educational Organizations.
  • Tax-Exempt Status Denied for Entity Operating as a Conduit to Generate Sales Leads.
  • Court Strikes Down IRS Rule That Eliminated Exempt Organization Donor Reporting.
  • Developer's Payments for Marketing Materials Were Nondeductible Bidding Costs.
  • IRS Allows Taxpayers to Revoke or Make Late Bonus Depreciation Elections.
  • Fourth Circuit Rejects Challenges to U.S.-Canada Tax Treaty.
  • Chief Counsel's Office Addresses Effective Date and Scope of Casualty Loss Limitation.
  • IRS Grants 6-Month Extension for Filing Forms 1065 to Certain Partnerships.
  • No Bonus Depreciation Deduction for Rehabilitation of Burned Agricultural Property.
  • IRS Releases Draft of 2019 Form 1040; Revises Drafts of Form 8895 and Form 8995-A.
  • D.C. Circuit: 30-Day Period for Whistleblower Appeals Is Not Jurisdictional.
  • Army Officer Not Entitled to Foreign Earned Income Exclusion While in Afghanistan.
  • CPA Penalized for Aiding and Abetting Tax Understatements on More Than 5,000 Tax Returns.
  • IRS Reminds Combat Veterans to File for Tax Refunds on Disability Payments Reported as Income.
  • Late IRA Rollover Was Not Taxable Due to Bank's Bookkeeping Error.
  • Final Regs Permit Employers to Use Truncated Taxpayer ID Numbers on Form W-2.
  • No "Away from Home" Travel Deductions Allowed for Contract Employee.
  • Tax Court Lacked Jurisdiction Because No Notice of Determination Was Issued.
  • Early Withdrawal Did Not Render Debtor's Annuity Nonexempt in Chapter 7 Bankruptcy.
  • Author's Royalty Income from Publishing Contracts Was Subject to Self-Employment Taxes.
  • Farm in Chapter 11 Bankruptcy Can't Convert to Chapter 12 to Obtain More Favorable Treatment of ...
  • District Court Applied Wrong Definition of "Willful" in Return Preparer Penalty Case.
  • Eleventh Circuit Reverses District Court, Upholds Taxpayer's Sec. 1341 Refund Claim.
  • Final Regs Address Employment Taxes for Disregarded Entities Owned by a Partnership.
  • Return Preparer's Fraud Suspended Couple's Statute of Limitations on Assessment.
  • IRS Guidance Addresses Section 199A W-2 Wage Calculation for Certain Co-ops.
  • Pastor Couldn't Exclude Payments as Parsonage Allowances or Gifts from Congregants.
  • IRS Issues Proposed Section 199A Regs for Cooperatives and Their Patrons.
  • IRS Finalizes Regs on ESBTs with Nonresident Aliens as Potential Current Beneficiaries.
  • IRS Provides Safe Harbor for Charitable Donations Made In Exchange for SALT Credits.
  • IRS Finalizes Regs Limiting Contributions in Exchange for State Tax Credits.
  • Final Regulations Expand Use of Health Reimbursement Arrangements.
  • Congress Passes IRS Reform Act with Bipartisan Support.
  • Shareholders of Closely Held Corporation Were Liable as Transferees.
  • IRS Failure to Verify Mailing of Notice of Deficiency Was Abuse of Discretion.
  • Tax Court Nixes Assessment of Trust Fund Recovery Penalty (TFRP).
  • D.C. Circuit Upholds Tax Court's Denial of Charitable Deduction for Remainder Interest.
  • Eleventh Circuit Allows Injunctive Relief for IRS to Collect Unpaid Employment Taxes.
  • IRS Provides Luxury Auto Depreciation Limits and Lease Inclusion Amounts for Autos Placed in ...
  • IRS Releases Draft of Newly Designed Form W-4 for Use in 2020.
  • Foreign-Owned Charter Yacht Not Off the Hook for Employment Taxes.
  • Third Circuit Rejects Challenge to Controlled Foreign Corp Loan Guarantee Regs.
  • Proposed Regs Address Withholding on Transfers of Partnership Interests Involving Foreign Persons.
  • CFO Was Responsible for Employment Taxes, Notwithstanding Government Receivership.
  • IRS Offers Reasonable-Cause Relief for Returns Affected by CCH Software Outage.
  • Eleventh Circuit Holds Shareholder Did Not Have Basis in Indirect Loans to S Corp.
  • Couple Could Claim Credits Based on Medicaid Waiver Payment Excluded from Income.
  • Former S Corp Must Reduce AAA for Distribution in Post-Termination Transition Period.
  • Sixth Circuit Reverses District Court; Wrongful Levy Action Was Not Time Barred.
  • IRS Can Use Lien and Levy Powers to Collect Criminal Restitution Amounts.
  • Distributions of Casino Revenue Are Taxable to Native American Tribe Members.
  • Where No Disclosure Is Required, There Is No Statute for Assessing Section 6707A Penalty.
  • Tenth Circuit: IRS Can Make Initial Determination of Penalty After Issuing Notice of Deficiency.
  • Federal Circuit Holds That Excess State Tax Credit Was Taxable Income.
  • IRS Can Assess FBAR Penalty Based on Number of Accounts Rather Than Number of Filings.
  • Tax Court Addresses Deductibility of Business Owner's Settlement Payment.
  • CPEOs Can't Be Used to Transform Self-employed Individuals and Partners into Employees.
  • IRS Provides Safe Harbor for Pro Sports Teams' Trades of Personnel Contracts and Draft Picks.
  • Timely Mailing Rule in Code Section 7502 Trumps Common-Law Mailbox Rule.
  • IRS Addresses Interplay of State Tax Limitation and Home Office Deduction.
  • IRS Issues Proposed Regs on Investments in Qualified Opportunity Zones.
  • Two-Percent S Corp Shareholders by Attribution May Deduct Health Insurance Costs.
  • Proposed ESBT Regs Clarify Tax Treatment of TCJA Changes.
  • IRS Releases Draft 2019 Forms for Section 199A Deduction, Expands 199A FAQ.
  • Treasury Department Promises Not to Seek Judicial Deference for Subregulatory Guidance.
  • IRS Action for Unpaid Estate Taxes Not Barred by State Statute of Limitations.
  • Taxpayer's Bill of Rights Does Not Provide Grounds for Challenging a Notice of Deficiency.
  • Taxpayer Acquired Beneficial Ownership of S Corporation in Divorce.
  • District Court Addresses Valuation of Minority Interest Stock for Gift Tax Purposes.
  • Fifth Circuit: Settlement Payments Relating to Death of S Corp Owner's Girlfriend Aren't Deductible.
  • IRS Clarifies Tax Treatment of State and Local Tax Refunds.
  • Ninth Circuit: Estate Overstated Amount of Charitable Deduction.
  • D.C. Circuit Reverses District Court, Upholds PTIN Fee on Tax Return Preparers.
  • TIGTA Releases Report on Code Section 199A Qualified Business Income Deduction.
  • Penalty for Late Filing of S Corporation Does Not Require Supervisor Approval.
  • Indian Tribal Corporation Not Liable for the Employment Taxes of Its Legally Distinct Division.
  • CFC Partners of U.S. Partnership Had to Increase E&P for Subpart F Income.
  • Computer-Generated Penalty Exempt from Written Supervisory Approval Requirement.
  • Taxpayers Could Not Update Last Known Address on Forms 2848 or 4868.
  • Ministers' Housing Allowance Exclusion Does Not Violate First Amendment.
  • IRS Broadens Penalty Relief for Underpayment of Estimated Tax for 2018.
  • Court Rejects Refund Claim Where POA Did Not Authorize Preparer to Sign the Claim.
  • Supreme Court Reverses Eighth Circuit; Jury Award for Lost Wages Was Subject to Railroad Tax.
  • Drug-Induced Compulsive Gambling Losses Aren't Deductible Casualty Losses.
  • All Social Security Benefits Are Includible in MAGI in Determining Premium Tax Credit.
  • IRS Provides Penalty Relief Relating to New Form 1065 K-1 Reporting Requirement.
  • Bankruptcy Debtor Did Not Fraudulently Evade Paying Tax Debts.
  • Federal Circuit Affirms Award of Litigation Costs to Partnership in TEFRA Proceeding.
  • IRS Amends Low-Income Housing Credit Compliance-Monitoring Regulations.
  • Taxpayer Allowed to Deduct Payment of Court-Ordered Alimony Arrearages.
  • IRS National Office Addresses Tax Treatment of Employer-Provided Meals and Snacks.
  • IRS Provides Safe Harbor Accounting Method for Automobile Depreciation Deductions.
  • Taxpayers Can't Introduce New Issues through Rule 155 Computations.
  • Charitable Deduction Disallowed for Donation of House to Deconstruction Organization.
  • IRS Abused Its Discretion in Rejecting Taxpayer's Offer in Compromise.
  • Eleventh Circuit: Waiver of NOL Carryback Was Irrevocable.
  • Taxpayer's Sale of Intellectual Property Results in Capital Gain.
  • Tax Court Upholds LLC's $2.9 Million Bad Debt Deduction.
  • Court Rejects Novel Arguments and Holds Qui Tam Award Is Taxable Income.
  • State Law Cured Defective Conveyance of Property Out of Estate.
  • CPA May Have Been Negligent in Failing to Follow Up After E-Filing Couple's Return.
  • CFO Who Paid Creditors Before the IRS Liable for Payroll Taxes.
  • IRS Waiving Underpayment of Estimated Tax for Some Individuals for 2018 Returns.
  • What to Do About Missing Forms W-2 and Forms 1099.
  • CPA Can't Access Client's IRS Appeal Documents to Assist in His Criminal Case.
  • Second Circuit Reverses Tax Court; Roth IRA Arrangement Did Not Lack Economic Substance.
  • IRS Lien Could Attach to Debtor's Interest in Nondebtor Spouse's Retirement Account.
  • Third Circuit Clarifies Standard for Proving a "Willful" FBAR Violation.
  • IRS to Limit Certain Partnerships from Opting Out of Centralized Partnership Audit Regime.
  • IRS Finalizes Centralized Partnership Audit Regime Regulations.
  • IRS Releases Final 199A Regs and Related Guidance, Creates Safe Harbor for Rental Real Estate ...
  • Sample Client Letter: Rental Real Estate Safe Harbor.
  • Draft IRS Pub. Includes New Schedules to Help Calculate Sec. 199A Deduction.
  • IRS Guidance Clarifies Certain TCJA Property-Related Changes.
  • 2018 Year-End Tax Planning for Businesses.
  • CPA Sample Client Letter: Year-End Tax Planning for BUSINESSES.
  • TCJA Requires Practitioners to Recalibrate Year-End Tax Planning Strategies for Individuals.
  • CPA Sample Client Letter: Year-End Tax Planning for INDIVIDUALS.
  • Country Club Can't Deduct Nonmember Event Losses from Investment Income.
  • IRS Releases Guidance on the Suspension of Personal Exemption Deductions.
  • Church Members' Donations to Minister Were Taxable Income, Not Gifts.
  • Increase in Value of Split-Dollar Insurance Policy Was a Distribution, Not Income, to S Corp ...
  • IRS Abused Its Discretion by Failing to Consider Proposed Offers and Hardship Claim.
  • IRS Extends Replacement Period under Sec. 1033 for Certain Livestock Sales.
  • Owner of Tax Prep Firm Was Not Liable for Penalties on Returns Signed by Employees.
  • S Shareholder's Amended Filings Satisfied Requirement to Identify Inconsistencies with Return.
  • IRS Issues Retroactive Guidance on Employer Credit for Paid Family and Medical Leave.
  • Second Circuit Reverses Tax Court: Extensions of Variable Contracts Constituted Taxable ...
  • IRS Clarifies Deductibility of Business Meal Expenses in Light of TCJA Changes.
  • German Resident Isn't Eligible for Foreign Earned Income Exclusion.
  • Termination Payment Was Ordinary Income Subject to Self-Employment Tax.
  • Taxpayer Qualified as Real Estate Professional; Rental Losses Not Limited by PAL Rules.
  • Couple Failed to Show That "Act of State" Doctrine Applied to Foreign Distributions.
  • IRS Extends Tax and Penalty Relief to Victims of Hurricane Florence.
  • IRS Voluntary Annual Filing Season Program Withstands AICPA's Challenge.
  • Ten-Year Statute Doesn't Apply to Refund Arising from Foreign Tax Deduction.
  • IRS Rev. Proc. Addresses Accounting Method Changes for an Eligible Terminated S Corp.
  • Proposed IRS Regs Prevent Taxpayers from Working Around SALT Limitation.
  • Tax Court Did Not Have Jurisdiction Over S Corporation's Employment Tax Liability.
  • Automatic Extensions Kept on Many Information Returns Other Than Form W-2 Series.
  • IRS Rev. Proc. Addresses Automatic Accounting Method Changes for Small Businesses.
  • In-Depth: Long Awaited Section 199A Proposed Regs Are Generally Favorable to Taxpayers.
  • Long Awaited Section 199A Proposed Regs Are Generally Favorable to Taxpayers.
  • In Depth: Bonus Depreciation Regs Issued; Taxpayers May Rely on Them Immediately.
  • IRS Issues Guidance Relating to Certain Tuition Program and Education Expense Rules.
  • Parents Who Lost Custody of Children Could Not Claim Them as Dependents or Take Child Tax Credit ...
  • Spouse with No Control over Couple's Tax Filings Did Not Willfully Evade Payment of Taxes.
  • Taxpayer Can't Deduct $400,000 Restitution Payment Made as Part of Criminal Sentence.
  • LLCs Don't Qualify as "Customers" under the Right to Financial Privacy Act.
  • IRS Urges Veterans to File Refund Claims Relating to Disability Severance Payments.
  • Some Exempt Organizations No Longer Required to Report Donors' Names and Addresses to the IRS.
  • Newly Enacted Section 67(g) Won't Prevent Certain Estate and Trust Deductions.
  • Prop Regs Address TCJA's Expansion of Return Preparer Due Diligence Penalty to HOH Determination
  • No Innocent Spouse Relief for Widow Who Failed to Report Insurance Proceeds on Form 8857.
  • Nuclear Plant Operator's Waste Disposal Fees Did Not Qualify as Specified Liability Losses.
  • IRS Supervisor Approval Not Required for Tax Court to Assess Frivolous Arguments' Penalty.
  • Taxpayer Sues Mortgage Servicer for Not Including Capitalized Interest on Form 1098.
  • S Corp Shareholder Not Entitled to Basis Increase as Loan Guarantor and Co-Borrower.
  • IRS Wins Judgment Against Estate Where Decedent Used Tax Shelter to Avoid Taxes.
  • Tenth Circuit Affirms That Marijuana Dispensary Can't Deduct Business Expenses.
  • Fifth Circuit Vacates Lower Court Decision on Taxpayer's Liability for Section 6672 Penalty.
  • Summary Judgment Denied in Tax Court Case Involving Split Dollar Life Insurance Arrangements.
  • Legal Fees Relating to Status of Investment Fund Distributions in Divorce Were Not Deductible ...
  • S Shareholder Can't Unilaterally Elect FICA Tax Credit on S Corporation's Behalf.
  • Taxpayers Are Liable for Penalties After IRS Assurances That No Penalties Would be Assessed.
  • Supreme Court Reverses Seventh Circuit; No Railroad Tax on Stock Options.
  • IRS Proposes Removal of Temp Regs on a Partner's Share of a Partnership Liability for Disguised ...
  • Supreme Court Rejects Precedents in State Sales Tax Case; Quill and Bellas Hess Overruled.
  • Taxpayer Can't Lay Blame for Failure to Pay Employment Taxes on Deceased Partner.
  • Bank Failed to Establish Basis in Intangible Assets Acquired During S&L Crisis.
  • IRA Trustee Must Withhold Federal Taxes on Amounts Paid to Unclaimed Property Fund.
  • Tax Court Reduces Taxpayer's Basis in Solar Panel Venture, but Finds in Taxpayer's Favor on ...
  • Taxpayer Was Independent Contractor, Notwithstanding Employee Status Indicated on Form W-2.
  • IRS Liable for Damages for Willfully Violating Bankruptcy Discharge Order.
  • IRS Clarifies 2018 Standard Mileage Rates Notice in Light of New Tax Law.
  • Fifth Circuit Affirms Tax Court's Holdings on Closing Agreement and Offer In Compromise.
  • Professional Gambler Can't Deduct Track's Takeout in Calculating Gambling Losses.
  • Entertainment Company Was a Trade or Business, but Failed to Substantiate Expenses.
  • Former University Employee Can't Exclude Tuition Waiver from Income.
  • IRS Responds to State Legislative Attempts to Circumvent Limitation on SALT Deduction.
  • Partnership Consisting of Disregarded Entities Did Not Qualify for TEFRA Small Partnership Exception.
  • IRS Updates and Consolidates Guidance on Charitable Contributions.
  • Taxpayers Must Exhaust Administrative Remedies before Recovering Costs for Bankruptcy Violations.
  • Ten Year Limitations Period Did Not Apply to Taxpayer's Foreign Tax Credit Refund Claim.
  • Federal Circuit Reverses Lower Court; Allows Partial Exclusion of Extraterritorial Income.
  • Alleged Non-profit Was Really a Facade for a Doctor's Consulting Activity.
  • IRS Does Not Bear Burden of Production in Partnership Level Proceedings.
  • IRS Updates Accounting Method Change Procedure.
  • Son Fraudulently Induced Parents to Sell Company at a Discount by Not Disclosing Nonpayment of ...
  • Pizza Company Liable for Excise Taxes on Excess Contributions to Pension Plan.
  • Engineer's Losses from Music Activities Partially Allowed as Business Expenses.
  • Insurers Can Bring Class Action for Unpaid ACA Cost Sharing Reduction Payments.
  • Law Firm Can Equitably Recoup Employment Taxes Erroneously Paid by Related Entity.
  • IRS Adjusts 2018 HSA Annual Limitation on Deductions.
  • IRS Issues Guidance on Unreported Tip Income from "Tip Boxes".
  • Attorney's Affidavit Insufficient to Rebut IRS's Proof of Claim in Bankruptcy.
  • Late Filing of Carryback Application to Wrong Year Was Not an Informal Refund Claim.
  • IRS Issues Interim Guidance on Business Interest Limitation Rules Effective in 2018.
  • First Circuit Reverses Tax Court; Roth IRA Arrangement Did Not Lack Economic Substance.
  • Hearing Officer Not Required to Substantively Analyze Supervisor's Approval of Penalty.
  • Taxpayers May Continue to Rely on Rev. Proc. 2004-34 for Advance Payments.
  • IRS Tax Lien Applied Only to Taxpayer's Half Interest in Former Marital Home.
  • Case Against IRS Involving Phone Call Broadcast on Howard Stern Show Moves Forward.
  • Supreme Court: Tax Obstruction Conviction Requires Awareness of Pending Proceeding.
  • Appropriations Act Makes Major Modifications to the Partnership Audit Rules.
  • Doctor's Royalty Income from Patent Is Ordinary Income, Not Capital Gain.
  • Short Sale of Rental Property and Discharge of Mortgage Debt Resulted in No Gain or Loss.
  • President Signs $1.3 Trillion Spending Bill Featuring Extensive Technical Tax Corrections.
  • Gravel Sales Not Exempt from Tax under Native American Treaties.
  • Liability for ACA Shared Responsibility Payment Isn't a Priority Claim in Bankruptcy.
  • Proposed Regs Would Modify Definition of Short-Term, Limited-Duration Insurance.
  • Penalty Imposed on Business Owner Who Used Loan Funds to Pay Expenses Instead of Payroll Taxes.
  • Payment of Gain from Sale of Marital Home to Ex-Spouse Was Not Deductible as Alimony.
  • IRS Extends Three-Year Carried Interest Holding Period to S Corporations.
  • Couple Can't File Successive Motions to Extend Deadline to Appeal Tax Court Case.
  • Payments from Foreign Sales Corporation Reclassified as Excess Roth IRA Contributions.
  • IRS Gives More Time for Deducting Home Repair Damage Due to Presence of Pyrrhotite.
  • Eleventh Circuit: Contract Termination Payment Was Ordinary Income, Not Capital Gain.
  • Refund Claim for ACA Shared Responsibility Payment Was Properly Filed on Form 843.
  • Proposed Regs Address Adjustment of Tax Attributes Under Centralized Partnership Audit Rules.
  • Deficiencies Resulting from Improper Inventory Reporting and Unreasonable Compensation Upheld.
  • Lower Court Reversed; Deduction for Trust's Property Donation Is Limited to Basis.
  • Tax Court Limits Real Estate Developer's Losses; Rejects Penalty Assessment.
  • 2018 Pension Plan Limitations Not Affected by Tax Cut and Jobs Act of 2017.
  • Taxpayer Entitled to Innocent Spouse Relief for Tax on Former Spouse's Income, but Not for Tax ...
  • Taxpayer's Self-Serving Affidavit Was Sufficient to Defeat Summary Judgment.
  • Virgin Islands Tax Return Triggered Statute of Limitations When Forwarded to the IRS.
  • Federal Circuit Reverses Lower Court; Supports Hospital's Bid for FICA Reimbursement.
  • Third Circuit Affirms Tax Court; $10 Million in Transfers Were Equity Investments, Not Debt.
  • Budget Bill Includes Tax Extenders, California Wildfire Disaster Relief, and a Grab Bag of Tax ...
  • In-Depth Analysis: Section 199A Deduction for Qualified Business Income.
  • Three New TCJA Quick Reference Guides- Parker Tax Pro Library
  • Form 1099 and Form W-2 Reporting Deadlines Fast Approaching.
  • CPA Sample Client Letter: Requirement to File Forms 1099.
  • Bankruptcy Court Holds S Corporation Status Is Not Property for Bankruptcy Purposes.
  • Standard Mileage Rates for 2018 Increase Slightly.
  • Nonprofit Teaching Hospitals Subject to Income Tax on Fees from Third-Party Vendors.
  • Tax Court Reconsiders Accuracy-Related Penalty in Light of Chai Decision, Still Sides With IRS.
  • Fifth Circuit Rejects Challenges to Conviction for Willful Failure to Collect and Pay Over Taxes.
  • Tax Court Upholds IRS Denial of Whistleblower Award.
  • Extended Limitations Period Did Not Apply to Omissions of Foreign Income.
  • IRS Finalizes Rules on Opting Out of Centralized Partnership Audit Rules.
  • District Court Holds That Settlement Proceeds Were Nontaxable, but Disallows Deduction of Legal Fees
  • IRS Issues Updated Withholding Tables; Taxpayers Could See Changes by February.
  • Tax Court Holds That Family Owned Investment Fund Manager Carried on a Trade or Business.
  • Patent Owner Not Entitled to Capital Gains on Royalty Income.
  • Prepaid 2018 Real Property Taxes Are Deductible in 2017 If Assessed and Paid in 2017.
  • Parkers Tax Library - Professional Federal Tax Research - Most Popular Tax Articles
  • Tax Research - Tax Analysis Articles Archived - Parker Tax Publishing
  • Tax Research - Parker Tax Pro Library - Sitemap
  • Parker's Explanation of Tax Cuts and Jobs Act of 2017 (TCJA).
  • CPA Client Letter: Tax Cuts and Jobs Act (TCJA) for INDIVIDUALS
  • CPA Client Letter: Tax Cuts and Jobs Act (TCJA) for BUSINESSES.
  • Parker's Analysis of TCJA Conference Report and Final Version of the Tax Bill.
  • Conference Committee Releases Text of Final Version of Tax Bill.
  • Conference Committee Reaches Deal on Tax Bill; Votes in House and Senate Expected Next Week.
  • Prop. Regs Address Foreign Issues Relating to Centralized Partnership Audit Regime.
  • IRS Expands Relief for Late Actions by Partnerships and Certain Other Entities.
  • Court Petition Was Validly Postmarked Before Filing Deadline Using Non-USPS Label.
  • Legal Fees to Recoup Alimony Payments Were Nondeductible Personal Expenses.
  • IRS Entitled to Examine Cryptocurrency Exchange's Client Records.
  • Pfizer Settlement Payment Was Not Excludible from Income as Payment for Physical Injury.
  • In-Depth Article: Parker's Explanation of the Senate Tax Bill (TCJA 2017).
  • Tax Court Disallows Loss from Dissolution of S Corporation Due to Lack of Economic Substance.
  • Senate Tax Bill Clears Finance Committee; Floor Debate Expected This Week.
  • In-Depth Article: 2017 Year-End Tax Planning for Individuals.
  • CPA Client Letter: 2017 Year-End Tax Planning for INDIVIDUALS.
  • CPA Client Letter: 2017 Year-End Tax Planning for BUSINESSES.
  • Taxpayer Doesn't Have COD Income from Waiver to Repay Overpaid Pension Payments.
  • 32 Key Differences Between the House and Senate Tax Reform Bills.
  • District Court Can Add Tax Gross Ups to Title VII Damages Awards.
  • Taxpayer Erroneously Listed as Primary Loan Obligor Did Not Have COD Income.
  • Indirect Loans Did Not Increase Shareholders' Bases in S Corporation's Debts.
  • Airline Pilot Did Not Qualify for Foreign Earned Income Exclusion; Not Liable for ...
  • House Prepares to Vote on Tax Reform; Senate Makes Dozens of Changes to Its Bill, Adds Repeal of ...
  • Taxpayer Can File Joint Return after Erroneously Filing as Head of Household.
  • In-Depth: Parker's Explanation of the House Tax Reform Bill (TCJA 2017).
  • Engineer Can't Deduct Ph.D. Educational Expenses Because Degree Leads to a New Trade or Business.
  • No Discharge of Tax Debts in Bankruptcy for Couple with High Income, Extravagant Lifestyle.
  • Joint Committee on Taxation's Excellent, In-Depth Summary of the Tax Bill.
  • IRS Releases 2018 Pension and Retirement COLAs.
  • Section 2704 Regs Withdrawn; IRS Priority Guidance List More Regs on the Chopping Block.
  • Death of Former CEO Abates Certain Convictions and Restitution Amounts.
  • IRS Cannot Add Interest and Penalties to Criminal Restitution Award.
  • Eleventh Circuit Affirms Tax Court: Sale of Media Company Lacked Valid Business Purpose.
  • CEO Did Not Willfully Fail to File Accurate FBAR.
  • Court Rules IRS Must Give Reason for Rejecting Psychologist's Letter on Taxpayer's Financial ...
  • Failure to Subordinate Mortgages Precludes Conservation Easement Deduction.
  • Rebate in Excess of Tax Shown on Return Increases Taxpayer's Deficiency.
  • Canadian Citizen's Unemployment Compensation Not Exempt under Tax Treaty.
  • Failure to Allow Notice and Comment Period Invalidates Reg on Inversion Transactions.
  • Farm Rental Income from Wholly Owned S Corporation Was Not Subject to Self-Employment Tax.
  • Disaster Tax Relief Becomes Law; Provides Enhanced Casualty Loss Deductions and Other Tax Breaks ...
  • CPA Sample Client Letter: Maria Disaster Tax Relief.
  • CPA Sample Client Letter: Harvey Disaster Tax Relief.
  • CPA Sample Client Letter: Irma Disaster Tax Relief.
  • Taxpayer Can File Joint Return After Original Return Erroneously Reported Single Status.
  • In-Depth Article: GOP Releases Tax Reform Blueprint.
  • Owner of Fast Food Restaurants Can't Revise Merger Transaction After Deal Closes.
  • Sovereign Immunity Did Not Bar Bankruptcy Trustee's Action to Avoid Debtor's Fraudulent Tax Payments
  • IRS Barred by Statute of Limitations from Assessing Tax and Penalties Nine Years after Merger.
  • IRS Addresses Tax Treatment of Employer Programs to Aid Hurricane Victims.
  • IRS Validly Examined Predeceased Spouse's Return to Determine DSUE.
  • District Court Denies Deductions for Losses from Bad Real Estate Deal.
  • IRS Offers Relief for Partnerships, REMICS, and Partners That Missed New Return Due Dates.
  • Obamacare Repeal Is Back: Senate Gears up for Final 2017 Repeal Push.
  • IRS Grants Tax Relief to Hurricane Victims; Retirement Plan Rules Relaxed.
  • Tax Court Upholds IRS's Adjustments to Cement Company's Depletion Deductions.
  • Sixth Circuit Rejects FATCA and FBAR Challenges by Senator Rand Paul and Others.
  • Tax Court Rejects Insurance Expense Deductions Relating to Microcaptive Transaction.
  • Gift Tax on Lifetime Gifts Not Includible in Gross Estate Due to Reimbursement Agreements.
  • Taxpayers Had to Repay ACA Advance Premium Tax Credit Due to Increase in Income.
  • Tax Court: Individual's Sale of Personal Residence to Parents was Part Sale, Part Gift.
  • Late Filing of Tax Return Precludes Recovery of $32,000 Tax Overpayment.
  • IRS Announces Tax Relief for Victims of Hurricane Harvey.
  • Fourth Circuit Upholds Tax Return Preparer's Conviction for Filing False Returns.
  • Native American Treaties Exempt Gravel Sales from Income Tax.
  • Farm Owners Not Exempt from Deduction Limit for Conservation Easement Contribution.
  • Taxpayers Who Elected Standard Deduction Can't Deduct Gambling Losses.
  • IRS Uses U.S. - Canada Treaty as Leverage to Recover FBAR Penalty from U.S. Citizen Living in Canada
  • Shareholder Liable as Transferee for Dividend Payments Leading to Company's Insolvency.
  • Individual's Personal Loans to Failed Company Qualified for Bad Debt Deduction.
  • Fifth Circuit Vacates Tax Court Holding Against Donors of Conservation Easements.
  • Innocent Spouse Relief Denied for Wife Who Had Reason to Know of Husband's Failure to Pay Taxes.
  • Case Not Moot Where IRS Reserves Right to Reassess Penalties at a Later Date.
  • Co-owner Liable for Employment Taxes Not Paid by Other Co-owner.
  • Unemployment Income Returned in a Later Year Was Taxable in Year Received.
  • Rail Carrier Was Not Required to Withhold Taxes on Payments of Stock to Employees.
  • Royalty Payments Reclassified as Excess Roth IRA Contributions under Substance over Form Doctrine.
  • Corporation's Intercompany Transactions with CFCs Result in Income Recognition.
  • Obamacare Repeal Strikes Out in Senate. What's Next?
  • Court Looks to Tax Code to Determine LLC Owner's Payments on Defaulted SBA Debt.
  • Couple Incorrectly Told They Qualified for Premium Tax Credit Must Repay Credit.
  • District Court Upholds IRS Test to Determine Exempt Status of Political Advocacy Groups.
  • Missed Payment Resulted in Deemed Distribution of Loan from Qualified Profit Sharing Plan.
  • Contractual Right to Receive $225,000 Is a Right to Stock; Section 351(a) Governs Incorporation.
  • Redemption of Foreign Corp's Interest in US Partnership Did Not Result in US Source Capital Gain
  • Cash Method Landfill Business Can Currently Deduct Estimated Future Cleanup Costs.
  • Senate Begins Floor Debate on Healthcare; New "Skinny" Obamacare Repeal Plan Seen as Leading ...
  • Tax Court Denies Serial Whistleblower's Request for Anonymity.
  • Subordination of Mortgages after Conveyance of Property Precludes Charitable Deduction.
  • IRS Finalizes Streamlined Process for Applying for Sec. 501(c)(3) Nonprofit Status.
  • Partnership Can't Deduct Contribution of Remainder Interest in Property to University.
  • Firefighter Is Taxable on Disability Retirement Converted to a Service Retirement.
  • Individual Who Directed IRA to Purchase Stock Did Not Receive Taxable IRA Distribution.
  • Expenses for Meals Provided to Professional Hockey Team While Away from Home Were Fully Deductible.
  • IRS Targets Eight Regulations in Attempt to Reduce Regulatory Burden.
  • S Corporation Liable for Employment Taxes Not Paid by Professional Employer Organization.
  • Court Rejects Taxpayer's Reliance on "Outlier" Fifth Circuit Decision.
  • IRS's Computation of Taxpayer's Reasonable Collection Potential Wasn't Reasonable.
  • Court Addresses Issue of Whether Filing Form 1040 Tolls Statute on Unfiled Form 945.
  • Treasury Department Moves Forward on Eliminating Unnecessary Tax Regulations.
  • Sale of Businesses Were Sales of Franchises; Gain Was Capital, Not Ordinary.
  • Senate Unveils Draft of Better Care Reconciliation Act of 2017; Retains Much of House Healthcare ...
  • House Passes Mobile Workforce State Income Tax Simplification Act of 2017.
  • Tax Preparer's Obstruction Conviction Upheld, but Restitution Order Modified.
  • Bank Entitled to Deduct Interest on Loan Connected to STARS Transaction.
  • Taxpayer Made an Informal Refund Claim for When She Filed Wrong Form Seeking Innocent Spouse Relief.
  • Entity's Disregarded Status Doesn't Preclude It from Being a Pass-Thru Partner Subject to TEFRA.
  • Veteran's Disability Retirement Benefits Were Excludable from Income.
  • Doctor Escapes Penalty for Inaccurate Returns by Proving Reliance on Return Preparer.
  • IRS Issues Simplified Procedure for Obtaining Extension to Make Portability Election.
  • Court Invalidates Fee Requirement for Preparer Tax ID Numbers.
  • IRS Did Not Abuse Its Discretion in Rejecting Nonprofit's Installment Agreement Request.
  • No Relief Available Where IRS Letter Gave Wrong Date for Filing Tax Court Petition.
  • Sixth Circuit Finds CEO Took Reasonable Steps to Ensure Payment of Payroll Taxes.
  • Prison Inmate Not Eligible for Earned Income Tax Credit on Income Earned While in Hospital.
  • Complaint Filed After Phone Call With IRS Agent Is Broadcast Live on Popular Radio Show.
  • IRS Not Bound by Offer in Compromise with Modified Terms Even Though It Cashed Taxpayer's Check.
  • Failure to Disclose Listed Transaction on Form 8886 Prevented Statute from Running.
  • Property Transferred to Family Limited Partnership Was Included in Decedent's Gross Estate.
  • District Court Incorrectly Applied Factors in Considering If IRS Could Foreclose on Married ...
  • Tax Debts Were Not Dischargeable in Bankruptcy; Late Returns Were Not Returns for Bankruptcy ...
  • Taxpayer Properly Barred from Challenging Penalty in CDP Hearing.
  • Court Calls Taxpayer's Arguments "Heavy on Chutzpah"; Duty of Consistency Prevents Additional ...
  • Tax Court Has Jurisdiction over Penalty Relating to Inconsistent Partnership Reporting.
  • Estate Can't Deduct Interest on Loan Used to Pay Estate Taxes.
  • Federal Circuit Vacates Claims Court Decision on Timing of Investment Scheme Loss; Couple Gets ...
  • House Passes Health Care Bill by Slim Margin; Senate Hints That It Will Rewrite the Bill.
  • Retired Police Officer Granted Hardship Waiver for Late Retirement Rollover.
  • Nonprofit Hospital Was a Corporation for Purposes of Calculating Interest Rate on Overpayments.
  • IRS Updates Automatic Accounting Method Change Procedures.
  • Questions Exist as to Whether CEO Willfully Failed to File an Accurate FBAR; Summary Judgment Denied
  • IRS Clarifies 2015 Changes to Section 179 Expensing and Bonus Depreciation.
  • Court Denies IRS Attempt to Reclassify Workers; Denies Taxpayers' Request to Recoup Costs.
  • Appeals Court Affirms Disbarment of Attorney by Tax Court.
  • Extensions of Variable Prepaid Forward Contracts Did Not Constitute a Sale of Property.
  • Trump Administration Releases Outline of Tax Reform Plan.
  • IRS Records of Workers' Income Tax Payments Were Discoverable by Employer.
  • Nursing Home Manager Liable for Penalties for Failing to Pay Over Payroll Taxes.
  • Wife Escapes Liability for Fraud Penalties with Respect to Husband's Illicit Business.
  • Individual's Claim of Exemption in Bankruptcy Did Not Shield EITC Refund from IRS Offset.
  • Individual Denied S Corporation Basis Increase for Unpaid Judgments on Real Estate Foreclosures.
  • Lawyers in Professional Limited Liability Company Subject to Self-Employment Tax.
  • Tax Organizations Call on Congress to Improve IRS Services to Tax Practitioners.
  • Jury Convicts Former CFO of Florida Resorts of Tax Offenses, Conspiracy, and Bank Fraud.
  • Court Rejects IRS Attempt to Recover Home Sale Proceeds from Debtor's Wife.
  • Proposed Revenue Procedure Addresses Changes Relating to New FASB Standards.
  • Administrative Tasks Don't Count Towards 39-Week Moving Expense Deduction Requirement.
  • Second Circuit Reverses Imposition of Accuracy-Related Penalty; IRS Did Not Obtain Supervisory ...
  • Nonresident Aliens' U.S. Summer Jobs Don't Qualify as "Away From Home"; No Deduction Allowed for ...
  • Charitable Deduction for Contribution of Airplane Interest Doesn't Fly with IRS.
  • Individual Can Ask Bankruptcy Court for Innocent Spouse Relief; Relief Not Limited to Tax Court.
  • Disbarred Attorney Isn't Subject to IRS Oversight With Respect to Tax Return Prep.
  • Taxpayers Did Not Have Unrestricted Right to Funds Fraudulently Acquired.
  • Taxpayer Had No Legitimate Expectation of Privacy in Records Held by CPA.
  • Obamacare Repeal Moves to House Floor; Ultimate Passage Uncertain.
  • Taxpayer Can Deduct Payments for Alternative Medical Care.
  • Russian Ruble's Collapse Didn't Result in Loss Windfall for Funds' Partner.
  • Nonresident Alien Not Entitled to Withholding Tax Refund on Backgammon Payout.
  • D.C. Circuit Shoots Down Preparer's Claim Relating to Suspension to Practice Before IRS.
  • Dentist Qualifies as Real Estate Professional; Rental Real Estate Losses Are Deductible.
  • Substance-Over-Form Doctrine Doesn't Authorize IRS to Reclassify Transfers from DISC to Roth IRAs.
  • Amicus Brief Couldn't Sway Supreme Court to Hear Bankruptcy Discharge Case.
  • IRS Gears Up to Report Unpaid Taxes to State Dept; Revocation or Denial of Passports Could Result.
  • District Court Bucks the Trend of Penalizing Estates for Relying on Expert's Advice.
  • Pursuant to Executive Order, IRS Won't Reject Returns That Don't Provide Health Insurance ...
  • OMB Directive Offers Interim Guidance on Regulatory Cap; Dearth of New IRS Guidance Continues.
  • How to Handle Missing or Incorrect Forms W-2.
  • Court Affirms Former Trucking Company CEO's 90-Month Prison Sentence for Tax Evasion and Bank Fraud.
  • Tie-Breaker Rule Prevents Grandmother from Claiming Grandkids as Dependents.
  • Payments by Failing S Corporation to Shareholder Were Distributions, Not Wages or Expense ...
  • Return Preparer Liable for Penalty After Failing to Perform Due Diligence.
  • Taxpayers Improperly Deducted Legal Fees Related to Former Employment as Negative "Other Income".
  • Engineering Company Fails Two-year Test for Exception to Percentage of Completion Accounting Method.
  • Doctor's Surgery Activities Can't be Grouped with Surgical Rental Business.
  • Tax Court Petition Received Eight Days After Deadline Nevertheless Treated as Timely Filed.
  • Accountant's Adoption of New Paperless Tax System Justified Client's Form 3115 Filing Extension.
  • RV is Dwelling Unit: Business-related Depreciation and Interest Deductions Denied
  • White House Moratorium on Issuing Regulations Affects Issuance of Proposed Partnership Audit Rules.
  • Court Rejects Attempt to Use Dissolved S Corp to Deduct Trust Fund Penalty Taxes.
  • IRS Changes Position on Claiming Childless EIC; Amended Returns May be in Order.
  • Proposed Regs Update Rules for Claiming Dependency Exemption and Other Tax Benefits.
  • Tax Court Finds No Financial Hardship Exception to IRA Early Withdrawal Penalty.
  • Accumulated Earnings Tax Applies Despite Corporation's Lack of Liquidity.
  • Company Not Entitled to Deduction under Code Sec. 83 for Stock Transferred to Officer.
  • IRS Provides Guidance on De Minimis Safe Harbor from Information Reporting Penalties.
  • IRS Announces that 2016 Filing Season Begins on January 23, 2017.
  • Financial Advisor Can't Use S Corp to Shield Himself from Self-Employment Taxes.
  • Steep IRS Penalties Put a Premium on Timely, Accurate 1099 Reporting.
  • CPA Sample Client Letter: Requirement to File Forms 1099.
  • Chief Counsel Questions Use of Electronic Signatures Where Not Specifically Authorized.
  • Prison Time Considered an "Absence Due to Special Circumstances" in Determining Dependency Exemption
  • Distribution from Decedent's IRA to Wife to Settle Suit with Stepson Is Subject to Tax and Penalties
  • IRS Failure to Issue Regs Precludes Donor's Use of Alternative Method of Substantiating Contribution
  • Wharton M.B.A. Expenses Deductible as Unreimbursed Employee Expenses.
  • IRS Extends Time to Request Automatic Consent for Changes Relating to Tangible Property Regs.
  • Top Tax Developments of 2016. (Parker Tax Pro Library)
  • Heirs Not Liable for Estate's Taxes as Trustees or as Personal Representatives.
  • Rollover Limit Precludes Waiver of 60-Day Requirement for Taxpayer's Second IRA Distribution.
  • Tax Court: Interest and Property Taxes Relating to Growing of Trees Must Be Capitalized.
  • Dot-Com Mogul Not Entitled to $112 Million Capital Loss from CARDS Transaction.
  • Combat-Injured Veterans Tax Fairness Act of 2016 Extends Statute for Veterans to Collect Refunds.
  • Standard Mileage Rates Decrease in 2017 for Business, Medical, and Moving Purposes.
  • Tax Benefit Rule Doesn't Apply to Inherited Farm Inputs Deducted in Year Paid and Year Used.
  • Chief Counsel's Office Discusses Options Where Portability Election Is Filed Late.
  • 21st Century Cures Act Allows Small Employers to Offer Health Reimbursement Arrangements.
  • Temporary Regs Expand Preparer Due Diligence Requirements to Child Tax Credits.
  • Court Rejects Sunoco's $300 Million Refund Claim Relating to Fuel Mixture Credit.
  • Gift Arose from Merger of Family's Corporations; Case Remanded to Consider Challenges to IRS ...
  • Mortgage Modifications Qualify for Debt Forgiveness If Entered into Before January 1st.
  • IRS Finalizes Fee Increases for Taxpayers Entering Into Installment Agreements.
  • IRS's Own Evidence Supports Taxpayer's Mortgage Interest Deductions; Home Office Deduction Denied.
  • Proposed Regs Address IPIC Pooling for Dollar-Value LIFO Method of Accounting.
  • Doctor Subject to Payroll Tax Penalty for Paying Employees Before IRS.
  • Developer's Losses in Real Estate Downturn Don't Translate into Deductible Losses.
  • IRS Extends Deadlines to Furnish Health Coverage Information to Individuals.
  • Court Relies on Owner's Opinion of Property's Value to Determine Casualty Loss.
  • IRS Releases 2017 Retirement Plan COLA Amounts.
  • Decline of Estate's Stock Value Leaves Nothing for Executor; Federal Liens Take Priority.
  • Sovereign Immunity Bars Claims for Emotional Damages from IRS Misconduct.
  • IRS Reminds Practitioners to Renew PTINs for 2017.
  • Deferred Compensation Was Subject to Substantial Risk of Forfeiture Where Employer Provided ...
  • Modified Child Support Order Didn't Contradict Taxpayer's Claim That He Was Custodial Parent.
  • Failure to Make Debt Payments for 36-Months No Longer Triggers Deemed Discharge.
  • Taxpayer's Detailed Records Proved Loans Were Bona Fide.
  • Treasury Department Provides Advice on Maximizing Education Tax Credits by Proper Allocation of ...
  • IRS Issues Inflation-Adjusted Amounts for 2017.
  • Exchange of Property Between Related Parties Doesn't Qualify as a Like-Kind Exchange.
  • Republican Election Sweep Sets the Stage for Major Tax Changes in 2017.
  • Taxpayers Weren't Required to Include "Cash for Keys" Payment in Ordinary Income.
  • Wife Who Spent Time Caring for Disabled Son Was Not a Responsible Person.
  • 2016 Year-End Tax Planning for Businesses.
  • In-Depth Article: 2016 Year-End Tax Planning for Individuals.
  • CPA Client Letter: 2016 Year-End Tax Planning for INDIVIDUALS.
  • CPA Client Letter: 2016 Year-End Tax Planning for BUSINESSES.
  • IRS Limits Application of Debt/Equity Regs, Expands Exceptions for Ordinary Business Transactions.
  • Investigation of Father's Mysterious Death Was a Hobby, Not a Business.
  • Temp Regs Allow More Time to Make Disaster Loss Elections.
  • Loss from Sale of Equipment Used to Generate DPGR Didn't Affect QPAI.
  • Trust Can't Deduct Charitable Contributions Where Will Did Not Explicitly Allow Them.
  • Social Security Wage Base to Increase Sharply in 2017.
  • New Overtime Rules Go Into Effect December 1st; What Tax Practitioners Need to Know.
  • Drought-Stricken Farmers and Ranchers Have More Time to Replace Livestock; Counties in 38 States ...
  • Incompetent Legal Counsel Doesn't Excuse Estate from Late Filing Penalties.
  • IRS Updates Per Diem Rates for Travel Away From Home.
  • Estate Could Deduct Theft Loss Decedent's LLC Suffered in Madoff Ponzi Scheme.
  • IRS Finalizes Regulations on Internal Use Software for Purposes of the Research Credit.
  • IRS Updates Guidance on Unnecessary QTIP Elections to Address DSUE Portability.
  • IRS Revamps Partnership Disguised Sale Rules and Partnership Liability Regs.
  • IRS Rejects LLC Member's Argument That Income Attributable to Capital Isn't Self-Employment Income.
  • Pastor's Vow of Poverty Didn't Insulate Him from Federal Income Taxes.
  • IRS Can Abate Penalties Where Taxpayer's Dementia Causes Failure to File Returns.
  • No Foreign Tax Credit Where Sisters Couldn't Prove Virgin Island Residency.
  • Teacher Entitled to Deductions for Home Office Used for Administrative Assignments.
  • Settlement for Disability Benefits Not Excludable as Damages for Sickness.
  • IRS Finalizes Regulations Reflecting Same-Sex Marriage Cases and Rulings.
  • Royalties Are Ordinary Income Where Doctor Retained Rights in Patents.
  • Purported Like-Kind Exchanges Involving Sale-Leasebacks Didn't Meet Section 1031 Requirements.
  • Gross Receipts from Taxpayer's Construction Activities Qualify as DPGR.
  • Attempts to Avoid Land Use Restrictions Betrayed Intention to Develop Property for Sale; Gain ...
  • IRS Releases Audit Technique Guide on Capitalization of Tangible Property.
  • Taxpayers' Withdrawal of Excess IRA Contributions Weren't Timely; Seventh Circuit Upholds Penalty.
  • IRS Addresses Retroactive Application of Bonus Depreciation Extended by PATH.
  • Payment of S Shareholder's Personal Expenses Were Loan Repayments, Not Wages.
  • Partnership Not Entitled to Capital Gain Treatment on Forfeited Deposit.
  • Ninth Circuit Affirms Home Builder's Use of Completed Contract Method for Planned Community.
  • IRS Finalizes PTIN Fee Reduction.
  • D.C. Circuit: Tax Court Erred in Its Analysis of U.S.-France Totalization Agreement.
  • Sample CRAT Provision Provides Alternative for Satisfying Probability of Exhaustion Test.
  • IRS Issues Procedures for Electing to Apply New Partnership Audit Regime.
  • Taxpayer Is Liable for Self-Employment Taxes Rather Than His Bankruptcy Estate.
  • Proposed Regs Increase User Fees for Installment Agreements.
  • Court Voids Penalties for Late Filing Where Taxpayer Had a String of Bad Luck.
  • Consultant Had Accounting Method Change; Reliance on CPA Helps Him Avoid Penalties.
  • Retired Air Force Pilot Couldn't Deduct Start-Up Costs of Nascent Aviation Business.
  • Chief Counsel's Office Focuses on Whether Companion Sitters Are Household Employees.
  • Injured Vet Was Not Financially Disabled; Statute Had Run on Collecting Tax Refund.
  • Tax Court Grants Drug Store Significant Latitude in Structuring 1031 Exchange.
  • New IRS Procedure Lets Taxpayers Self-Certify Eligibility for Waiver of 60-Day Rollover Requirement.
  • Accounting Manager Could Deduct Costs of Pursuing Executive MBA Degree.
  • Prop. Regs Aim to Close Loopholes on Valuation of Certain Transferred Interests.
  • Prop. Regs Address New Reporting for Qualified Tuition Deduction and Education Credits.
  • Two Cases Illustrate Importance of Material Participation for Real Estate Professionals.
  • Income from Exempt Organization's Inherited Rental Properties Won't Lead to UBTI.
  • Taxes Not Dischargeable in Bankruptcy Where Debtor Filed Return 7 Years Late.
  • Seventh Circuit Reverses Tax Court; Taxpayer Not Entitled to Abatement of Interest.
  • IRS Eliminates Requirement to Submit Copy of Section 83(b) Election With Returns.
  • Couple Can Deduct Most of Wages Paid to Children Doing Jobs for Family Machinery Business; No ...
  • Deduction for Section 167(h) Geological and Geophysical Expenses Applies to Non-Owners Also.
  • Online Gambling Accounts with Offshore Sites Didn't Require FBAR Reporting.
  • No Casualty Loss Deduction Allowed for Payments to Repair Collapsed Retaining Wall.
  • Couple Can't Deduct Losses from Amway Distributorship.
  • Rollover Requirement Not Waived Where Taxpayer Used IRA Funds as Short-Term Loan.
  • Guidance Issued on NAV Method of Accounting for Money Market Funds.
  • Worker Not Entitled to Damages Under Tax Code for Alleged Employment Misclassification.
  • IRS Rules that Birth of a Second Child was "Unforeseen Circumstance" for Purpose of Section 121 ...
  • Lawyer's Automobile Restoration Activity Not a Hobby.
  • IRS Rejects Estate's Attempt to Retroactively Designate Trusts as IRA Beneficiaries.
  • Abandonment Loss Allowed for Leasehold Improvements Upon Couple's Eviction from Store.
  • Final and Temp Regulations Issued on Section 501(c)(4) Reporting Requirements.
  • Proposed Premium Tax Credit Regs Address Opt-Out Payments, Credit Eligibility.
  • Tenth Circuit Affirms Tax Court; Passive Participation in Oil and Gas Ventures Is Subject to ...
  • Texas Tycoon Liable for Over $1 Billion to IRS for Using Offshore Entities to Avoid Taxes.
  • IRS Clarifies Term "Taxpayer" for Purposes of Excluding Cancellation of Debt Income.
  • Taxpayer Couldn't Deduct Loss for Forfeited Proceeds from Insider Trading.
  • Debt on Real Property Primarily Held for Sale to Customers Not Eligible for Exception from COD ...
  • Sale of Marital Businesses to Former Spouse Qualifies for Nonrecognition Treatment.
  • IRS Addresses Calculation of Taxable Portion of Phased Retirement Payments.
  • IRS Reduces Application Fee for Exemption Requests Submitted on Form 1023-EZ.
  • Doctor Couldn't Group Airplane and Medical Activities; Losses Disallowed.
  • Tax Preparer Escapes Fraud Penalty; Requisite Intent Not Found.
  • Taxable Income Includes Cash Rewards and Premium Reimbursements under Wellness Programs.
  • Taxpayer Met Requisite Hours to be a Real Estate Professional; Passive Loss Rules Not Applicable.
  • Tax Payment on Behalf of Ponzi Scheme Inventor Must Be Returned by IRS.
  • Bankruptcy Estate, Not Shareholders, Liable for Taxes from Sale of S Stock.
  • Post-Retirement Distributions under Deferred Comp Plan Subject to Self-Employment Taxes.
  • Owner Had Reasonable Basis for Classifying Home Care Workers as Independent Contractors.
  • District Court Sides with House Republicans, Rejects Obamacare Cost-Sharing Reimbursements.
  • $11 Million Paid to Officer-Shareholders of Closely Held Contracting Business was Reasonable Compensation.
  • Third Circuit: All-Events Test Allows Business to Deduct Unredeemed Loyalty Perks.
  • California Can't Compel Controversial Nonprofit to Disclose Donor Information.
  • Temp Regs Clarify Self-Employment Tax Obligations Where a Partnership Owns a Disregarded Entity.
  • IRS Updates List of Automatic Changes for Accounting Methods.
  • Court Looks to NOL Carryover Rules to Deny Taxpayer's Use of Late Husband's AMT Credit Carryover.
  • Former Tax Court Judge and Husband Indicted for Tax Evasion and Filing False Returns.
  • Loan Guarantees to Self-Directed IRA Results in Deemed Distribution and Penalties to Owners.
  • Senate Finance Committee Drops Tax Preparer Regulation Provision from Bill on Taxpayer Protections.
  • Proposed Regs Clarify Amount and Timing of Deemed Distributions from Adjustments to Stock Rights.
  • Estate Not Liable for Additional Taxes in Split-Dollar Insurance Arrangement.
  • Taxpayer Granted Refund where IRS Substitute Returns Failed to Account for Foreign Taxes Paid.
  • Income from Sporadic Sales of Scrap Metal Not Subject to Self-Employment Tax.
  • Temp and Prop Regs Combat Corporate Inversions and Earnings Stripping.
  • Seventh Circuit Reverses Tax Court, Allows Losses from Horse-Racing Activity.
  • Recently Released Blue Book Addresses Questions Posed by the New Partnership Audit Regime.
  • IRS Provides Transition Relief Regarding Changes to the Work Opportunity Tax Credit.
  • Payments to Related Company for Product Development Were Constructive Dividends to Common Owner.
  • No Theft Loss Where Couple Can't Prove Year They Abandoned Arbitration Claim.
  • IRS Issues Proposed Regs on Estate Basis Reporting; AICPA Pushes for Deadline Extension.
  • IRS Finalizes New Form 8971 for Reporting Estate Distributions; Delays Filing Deadline to March 31.
  • Taxpayer Escapes Penalty Where Self-Directed IRA Funds Went Straight to Investment.
  • Hollywood Set Designer Entitled to Deduct Expenses as an Independent Contractor.
  • IRS Agent Erred in Applying Hobby Loss Rules to "Productive Use" Test for Like-Kind Exchange.
  • Sales of Real Property are Sporadic, Therefore Loss on Foreclosure Is Capital.
  • Employer Guidance Issued on Retroactive Increase in Excludable Transit Benefits for 2015.
  • Sixth Circuit Reverses Tax Court; Foreign Currency Option Can be a Foreign Currency Contract.
  • IRS Withdraws Controversial Prop Reg Allowing Nonprofits to Collect Donor SSNs.
  • CPA Client Letter: Requirement to File Forms 1099.
  • In-Depth: 1099 Reporting Takes on New Prominence as Sharp Penalty Increases Take Effect.
  • CPA Client Letter: 2015 Tax Extenders (PATH) for Individual Taxpayers.
  • CPA Client Letter: 2015 Tax Extenders (PATH) for Business Taxpayers.
  • Congress Permanently Extends Numerous Tax Provisions (PATH) Including Enhanced Child Tax Credit.
  • IRS Extends Deadline for Applicable Large Employers to Report Health Coverage Information.
  • Top 15 Tax Developments of 2015. (Parkers Tax Library)
  • No Plug-in Electric Vehicle Credit Where Golf-Cart Wasn't Delivered in Appropriate Tax Year.
  • No Loss Allowed for Expired Contract Where Business Continued as Normal.
  • Pending Federal Income Tax Refunds Are Includible in Gross Estate.
  • IRS Addresses Employer Payment of Employee Coverage Provided Under a Spouse's Group Health Plan.
  • Discharge of Corinthian College-Related Student Loans Won't Result in Taxable Income.
  • IRS Finds Fault with Taxpayer's Statistical Sampling Study.
  • Taxpayer's Care of Terminally Ill Wife Is Reasonable Cause for Failure to File Return and Pay Tax.
  • IRS Increases Tangible Property De Minimis Safe Harbor Threshold for Those Without Applicable Financial Statement.
  • 2015 Saw Significant Tax Law Changes, But Tax Extenders Remain up in the Air.
  • Sports Team Didn't Produce Game Broadcasts, Wasn't Entitled to DPGR Deductions.
  • Court Rejects IRS Arguments Aimed at Limiting Taxpayers' Real Estate Losses.
  • IRS Issues Safe Harbor Method for Restaurant and Retail Store Remodeling Projects.
  • Acquisition Cost of Internet Domain Names Must Generally be Capitalized and Amortized.
  • Fifth Circuit Affirms Bright Line Test on Use of Completed Contract Method by Developers.
  • In-Depth: Bipartisan Budget Act Avoids Government Shutdown, Replaces TEFRA Partnership Audit Procedures.
  • In-Depth Article: CPA Year-End Tax Planning for Businesses 2015.
  • In-Depth Article: CPA Year-End Tax Planning for Individuals 2015.
  • IRS Goes After Law Firm for Tax Shelter Transactions, Assesses Over $11 Million in Penalties.
  • Taxpayer's Cancer Doesn't Negate Liability for Tax on Discharged Debt Income.
  • IRS Issues Proposed Regs Applying Supreme Court Decisions on Same-Sex Marriage.
  • Eleventh Circuit Rejects Penalties Relating to Voluntary Disclosure under Amnesty Program.
  • IRS Releases Retirement Plan COLA Amounts for 2016.
  • Ninth Circuit Rejects Assignment of Noncompete Income to Partnership ...
  • Modified Obamacare Definition of "Small Business" Indirectly Affects Cafeteria Plans.
  • CPA Client Letter: Year-End Tax Planning for 2015 for Individuals.
  • CPA Client Letter: Year-End Tax Planning for 2015 for Businesses.
  • IRS and SSA Release Inflation-Adjusted Amounts for 2016; Wage Base and Other Amounts Unchanged.
  • Cigarette Reseller Not Eligible for Small Reseller Exception; UNICAP Rules Apply.
  • Company's Production of Unit Doses of Medicine Qualifies for Section 199 Deduction.
  • IRS Begins Launching 2015 Draft Forms and Instructions; What's New for 2015.
  • Multiple Poker Tournament Buy-Ins Aren't Aggregated for Form W-2G Reporting.
  • Economic Substance Doctrine Can Be Applied to Disallow Foreign Tax Credits.
  • Internal Revenue Service Issues Annual Per Diem Guidance.
  • IRS Eliminates Foreign Goodwill Exception for Tax-Free Transfers of US Intangibles.
  • Taxpayer's Debt Was Discharged Years Earlier than Form 1099-C Indicated.
  • Fifth Circuit Agrees That Custom Homebuilder Must Capitalize CEO's Salary.
  • No Fraud Found Where IRS and Taxpayer's CPA Turned Their Heads on Improper Inventory Reporting.
  • Guidance Addresses Retroactive Application of Bonus Depreciation Extended by TIPA.
  • Late Filings by Individual Partners Preclude Abatement of Penalty for Late Form 1065.
  • Taxpayers Can Reduce Value of Gift for Assumption of Code Section 2035(b) Estate Tax Liability.
  • Increase to a Reserve Account Does Not Satisfy the Bad Debt Charge-Off Requirement.
  • Unauthorized Incorporation of Business Precludes Deduction of Business Expenses on Form 1040.