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Latest Tax
Alerts
Check out the latest tax
alert section of our website, full of links and articles
for professional and personal tax news. Read
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Client News
Nasheville group buys the Westin Tampa Bay on Rocky Point ... Read
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Final Regulations Clarify Employment Tax Treatment of Partners in Partnership That Owns Disregarded Entity
The IRS has released final ... Read
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Final Regs Dealing With Lessees Claiming Investment Credit Disallow Basis Increases for Partners and S Shareholders Making Income Inclusions
IRS final regulations provide ... Read
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Preventive Care High Deductible Health Plan Exceptions Expanded for Chronic Conditions
Effective July 17, 2019, the list of preventive care benefits ... Read
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Proposed Regulations Address PFIC Rules
The Treasury and IRS have issued proposed regulations ... Read
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Proposed Exception to MEP Unified Plan Rule
Proposed regulations would provide an exception ... Read
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Presti &
Naegele
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info@pntax.com Tel:(212)736-0055
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House Approves Bipartisan Repeal of ACA’s “Cadillac” Tax
By:
Annemarie Aguanno, CPA, Senior Audit/Tax Manager
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The House has approved a bipartisan repeal of the Affordable Care Act’s (ACA) so-called "Cadillac"excise tax on certain high-cost insurance plans.
ACA Cadillac Tax Repeal
The Middle Class Health Benefits Tax Repeal Bill (HR 748) cleared ... Read
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Final Regulations Allow Truncated TINs on Forms W-2 Furnished to Employees
By:
Salvatore Russo, CPA, Partner
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Final regulations allow employers to voluntarily truncate employees’ social security numbers (SSNs) on copies of Forms W-2, Wage and Tax Statement, furnished to employees. The truncated SSNs appear on the forms as IRS truncated taxpayer identification numbers (TTINs). The regulations also clarify and provide an example of how the truncation rules apply to Forms W-2.
Why Truncate? ... Read
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Continuity Safe Harbor Deadlines for Energy Credit Facility Construction May Be Tolled for National Security Delays
By: Donald Sager, CPA, Partner
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The continuity safe harbor placed-in-service date deadlines for the investment tax energy credit (Code Sec. 48) and the renewable electricity production credit (Code Sec. 45(a)) may be tolled if a construction delay is caused by national security concerns raised by the Department of Defense (DOD).
Background
In general, the energy credit may only be claimed if construction on a qualified facility begins before ... Read
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