On December 31, 2017, when the Times Square Ball dropped on New Year’s Eve, the lights that illuminated“2018” ushered in a whole new tax system for U.S. multinationals. Two years later, when that same ball dropped to signal the beginning of a new decade, it also marked the first time...
by Tara Fisher
The 2019 Form 1040 follows the basic framework of the 2018 Form 1040, but includes some important changes.
The first page of the 2019 Form 1040 includes the reporting and calculation of taxable income and the second page includes the calculation of tax and tax credits. The...
In September 2019, the IRS released tax gap estimates for the years 2011-2013. The recent IRS estimates show that there hasn’t been a significant change in compliance rates relative to past estimates calculated by the IRS.
The IRS estimates the tax gap from time to time to determine compliance...
In accounting, your career could go in many different
directions, but most of your choices will fall under tax or audit. So which
track is right for you?
It really is all about the right fit – which one better
accommodates your lifestyle and career goals? What’s going to make you happy?...
by Hannah Kohut
is often associated with long vacations, lazy days, and afternoons by the pool
sipping lemonade. This summer, however, has been anything but relaxing for the
folks working at the Treasury Department and IRS. These organizations continue
to issue the necessary guidance related to the...
The legal marijuana industry is growing – and fast! As of
2019, 11 U.S. states and Washington, DC, have legalized marijuana for
recreational use. The number of states that allow medicinal use of the drug is also
steadily growing. As the legal marijuana industry grows, there is also a
by Bria Wright
The Tax Cuts and Jobs Act added a new provision to the Internal Revenue Code called the “Base Erosion and Anti-abuse Tax” (BEAT). In April 2019, the Joint Committee on Taxation (JCT) published a report that offers insight into the number of corporations that will be impacted by the BEAT...
The Joint Committee on Taxation (JCT) recently published a series of documents tied to the Tax Cuts and Jobs Act. One of the documents receiving a great deal of attention is the “Distributional Effects of Public Law 115-97.” The document provides distributional tables and analysis of the Tax...
Now that tax season is over, it is important to look at some
recent tax changes that affect compliance and planning for 2019. These changes have been brought about by the
Tax Cuts and Jobs Act (TCJA), new regulations, revenue procedures, notices, and
Medical deduction: The...
by John Stevko
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