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Author Archive for Annemarie Aguanno

aaguanno

Rules issued on paid family and medical leave credit

Rules issued on paid family and medical leave credit https://www.journalofaccountancy.com/news/2018/sep/irs-rules-paid-family-medical-leave-credit-201819789.html The IRS on Monday issued 34 questions and answers on new Sec. 45S, which was added by the law known as the Tax Cuts and Jobs Act, P.L. 115-97, to provide a general business credit for employers who provide paid family and medical leave to […]

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aaguanno

Final Regulations Target Tax-Motivated Inversion Transactions

Final Regulations Target Tax-Motivated Inversion Transactions The IRS has issued final regulations that target tax-motivated inversion transactions and certain post-inversion tax avoidance transactions. The final regulations retain the thresholds and substantiation requirements of the 2016 final, temporary and proposed regulations (the 2016 regulations), but make limited changes to the 2016 regulations to improve clarity and […]

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aaguanno

Focus Remains on Tax Reform

Focus Remains on Tax Reform Congressional lawmakers on Capitol Hill continue to focus on tax reform. Republicans and Democrats alike have been discussing the effects of tax reform, albeit reaching different conclusions. Tax Reform Hearings The Ways and Means Committee held a hearing during the week of May 14, marking the first in a series […]

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aaguanno

Trump Signs Bipartisan Budget Act; Tax Extenders Included

Trump Signs Bipartisan Budget Act; Tax Extenders Included President Trump on February 9 signed the Bipartisan Budget Act into law after a brief government shutdown occurred overnight. The legislation contains tax provisions in addition to a continuing resolution to fund the government and federal agencies through March 23. The House approved this new law in […]

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aaguanno

Information reporting deadlines coming up fast

Information reporting deadlines coming up fast Information reporting has become a growing part of IRS’s enforcement and compliance strategy. Data matching, or even the inference that the IRS has the data to do so, statistically has increased overall income reporting nine-fold. Use of information returns, either in the form of Forms W-2, 1098s or 1099s, […]

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aaguanno

Financial Audits and Reviews – More than a Necessary Evil

Dealing with financial audits and reviews may not be the most exciting part of running a business, but each of these accounting engagements can bring considerable value to management. Whether you are a business owner or an external stakeholder, getting reliable, accurate and meaningful financial information is critical to your ability to protect your investment and maximize […]

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