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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 More


2020-2021 Special Per Diem Rates Released

The IRS has released the 2020-2021 special per ... Read More


Distributions by Terminated S Corporations Addressed in Final Regs

Treasury has issued final and amended regulations on ... Read More


Final Regs. Clarify Ratable Rehabilitation Credit is Still a Single Credit

Final regulations clarify that the amount of the rehabilitation credit for ... Read More


Final Regulations Provide Additional BEAT Guidance

Final regulations provide additional guidance on the base ... Read More


Final Regulations Update Definition of Qualifying Relative

The IRS has released final regulations that clarify the definition of ... Read More


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Guidance Released on Employee Payroll Tax Deferral

By: Wayne Naegele, CPA, Senior Partner

 

Wayne Naegele, CPA, Senior PartnerThe Treasury and IRS have issued guidance on the recent order by President Trump to defer certain employee payroll tax obligations on wages paid from September 1, 2020, through December 31, 2020. Under the guidance:

the due date for the withholding and payment of the employee’s portion of the 6.2-percent old-age, survivors and disability insurance (OASDI) tax (Social Security tax) under Code Sec. 3101(a), and the ... Read More




IRS Clarifies Provisions of the SECURE and the Bipartisan American Miners Act

By: Brian Whelan, CPA, Partner

 

Brian Whelan, CPA, PartnerThe IRS has released guidance in the form of questions and answers with respect to certain provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), and the Bipartisan American Miners Act of 2019 (Miners Act).

Business Credit The SECURE ACT added a new Code Sec 45T, which provides ... Read More




Final Regulations Limit Dividends Received Deduction

By: Angelica Farrell, CPA, Tax Manager

 

Angelica Farrell, CPA, Tax ManagerThe Treasury and IRS have issued final regulations that limit the Code Sec. 245A dividends received deduction and the Code Sec. 954(c) exception on distributions supported by certain earnings and profits not subject to the integrated international tax regime created by the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97). Proposed regulations and temporary regulations, issued on June 18, 2019, are adopted and removed, respectively.

TCJA Provisions The TCJA transitioned the United States from a primarily deferral-based international system of taxation... Read More




    



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