This year marks the 50th anniversary of the enactment of the Employee Retirement Income Security Act of 1974, P.L. 93-406 (ERISA). While retirement plans existed and were subject to IRS rules well ...

The deadline for beneficial ownership information (BOI) reports that applies to most small businesses should be delayed, the AICPA said in a letter to congressional committee leaders. Otherwise, "this ...

The IRS issued guidance for recipients of property from decedents on the basis-consistency requirement and for executors and others on basis-reporting requirements. The IRS said that crowdfunding ...

On Sept. 12, 2024, Treasury issued highly anticipated proposed regulations (REG-112129-23) to address the application of the corporate alternative minimum tax (corporate AMT) imposed on an applicable ...

The AICPA Digital Assets Tax Task Force (DAT TF) has been monitoring digital asset transaction reporting closely, and on the same day the final regulations on broker reporting (T.D. 10000) appeared, ...

One new opportunity created by the TCJA is the foreign-derived intangible income deduction in Sec. 250(a). The IRS issued proposed regulations on the Sec. 965 transition tax that requires U.S.

To get through the rigors of tax season, CPAs depend on their tax preparation software. Here's how they rate the leading professional products.

This article offers guidance on maximizing the use of corporate state NOLs, recording deferred tax assets and valuation allowances for them, and incorporating their value in the pricing of M&A ...

A taxpayer’s substantiation requirements for a charitable contribution deduction were not met by information reported on the donee organization’s tax return. Tax Court denies ordinary abandonment ...

Converting a C corporation to a limited liability company can sometimes be beneficial, but the tax consequences must be planned for. Certified professional employer organizations (CPEOs) enter into ...

In addition to the guidance on the plan, the letter recommends that Treasury and the IRS continue pursuing tax simplification. IRS commissioner Danny Werfel promised “marked improvement” for the ...

Without a delay, “millions of small business owners become accidentally and unknowingly delinquent in their compliance,” reads the letter, signed by CEO Barry Melancon, CPA, CGMA.