March 16, 2019
Brian Whelan- Author's Bio
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Opportunity Zone’s Tax Writers, Stakeholders Criticize IRS’s 50-Percent Locational Rule
Opportunity Zone’s Tax Writers, Stakeholders Criticize IRS’s 50-Percent Locational Rule The IRS’s proposed 50-percent gross income locational rule on the active conduct of Opportunity Zone businesses is garnering criticism from stakeholders and lawmakers alike. The IRS released proposed regulations, NPRM REG-115420-18, for tax reform’s Opportunity Zone program last October. 50-Percent Locational Rule Many stakeholders have urged […]
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- March 16, 2019
- Annemarie Aguanno
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IRS Postpones Canceling Tax Transcript Faxing Service After Grassley, Wyden Urge Delay
IRS Postpones Canceling Tax Transcript Faxing Service After Grassley, Wyden Urge Delay The IRS has said that it is postponing its plan to discontinue faxing taxpayer transcripts. The IRS statement came on the heels of a letter sent earlier this week from bipartisan leaders of the Senate Finance Committee urging such a delay. IRS Cybersecurity […]
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- February 09, 2019
- Tracy Tasch
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Guidance on 2019 Withholding Rules
Guidance on 2019 Withholding Rules The IRS has provided interim guidance for the 2019 calendar year on income tax withholding from wages and withholding from retirement and annuity distributions. In general, certain 2018 withholding rules provided in Notice 2018-14, I.R.B. 2018-7, 353, will remain in effect for the 2019 calendar year, with one exception. The […]
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- February 09, 2019
- Elias Koumniotes
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IRS Extends Passthrough Deduction to Real Estate Rental Activities, Provides Other Guidance
IRS Extends Passthrough Deduction to Real Estate Rental Activities, Provides Other Guidance New IRS guidance fills in several more pieces of the Code Sec. 199A passthrough deduction puzzle. Taxpayers can generally rely on all of these new final and proposed rules. Final Regulations The final regulations in T.D. 98xx_1 largely adopt the proposed regulations in NPRM REG-107892-18 (August 16, 2018), but […]
Read more- February 09, 2019
- Elias Koumniotes
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Interim Guidance for Excise Tax on Excess Remuneration and Parachute Payments
Interim Guidance for Excise Tax on Excess Remuneration and Parachute Payments The IRS has issued interim guidance on the excise tax payable by exempt organizations on remuneration in excess of $1 million and any excess parachute payments made to certain highly compensated current and former employees in the tax year. The excise tax imposed by Code […]
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