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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

Final Regulation Addresses Tax Withholding on Certain Periodic Retirement and Annuity Payments

The IRS has issued a final ... Read More

Final Regulations Clarify Deductions Allowed to Estates, Non-Grantor Trusts

The IRS has released final regulations clarifying that the ... Read More

Final Regulations on Foreign Person’s Transfer of Partnership Interest

The IRS has issued final regulations that address the gain or ... Read More

Final Regulations Released on Qualified ABLE Programs and Accounts

The Treasury and IRS have released final regulations ... Read More

Social Security Wage Cap and Benefit Amounts Increase for 2021

For 2021, the Social Security tax wage cap will be ... Read More

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IRS Finalizes 100 Percent Bonus Depreciation Regulations

By: Andrew Presti, Senior Partner

The IRS has adopted previously issued proposed regulations ( REG-106808-19) dealing with the 100 percent bonus depreciation deduction. In addition, some clarifying changes have been made to previously issued final regulations ( T.D. 9874). Changes to the proposed and earlier final regulations are largely in response to various comments submitted by practitioners, and generally relate to ... Read More

Final Regulations Reflect TCJA Changes to Entertainment and Meal Deductions

By: Brian Whelan, CPA, Partner

Final regulations reflect the significant changes that the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97) made to the Code Sec. 274 deduction for travel and entertainment expenses. These regulations finalize, with some changes, previously released proposed regulations, NPRM REG-100814-19.

Changes to Code Sec. 274 under the TCJA For most expenses paid or incurred after 2017, TCJA ... Read More

IRS Issues Final Regulations on Wage Withholding, Redesigned W-4

By: Lisa Varela, Senior Tax Manager

The IRS has issued final regulations that provide guidance for employers on federal income tax withholding from employees’ wages. The final regulations:

• address the amount of federal income tax that employers withhold from employees’ wages;
• implement changes made by the Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97); and
• reflect the redesigned Form W-4, Employee’s Withholding Certificate, and related IRS publications.

TCJA Changes The TCJA made many amendments affecting income tax withholding on employees’ wages ... Read More