TAXATION

IRS Issues Final Regs on Charitable Contributions and SALT Credits
 

IRS Issues Final Regs on Charitable Contributions and SALT Credits

Posted: June 11, 2019
The U.S. Department of the Treasury and the IRS have issued final regulations that require taxpayers to reduce their charitable contribution deductions by the amount of any state or local tax credits they receive or expect to receive in return.

IRS, Treasury Unveil Proposed W-4 Design for 2020
 

IRS, Treasury Unveil Proposed W-4 Design for 2020

Posted: May 31, 2019
​The IRS has issued a draft of the 2020 Form W-4, Employee's Withholding Allowance Certificate, that will make accurate withholding easier for employees starting next year.

6 Lean Tools to Optimize This Year’s Tax Debrief
 

6 Lean Tools to Optimize This Year’s Tax Debrief

Posted: May 31, 2019
Debriefing after busy season provides not only a time for reflection on the previous season’s production, but identification of opportunities to improve firm processes for the year ahead. This year, considering integrating “Lean Six Sigma” consultative tools proven to make firms more effective.

2020 Limits on HSA Contributions Are Issued
 

2020 Limits on HSA Contributions Are Issued

Posted: May 28, 2019
The IRS has announced the annual inflation-adjusted limits on deductions for contributions to a health savings account allowed for taxpayers with family coverage under a high-deductible health plan for calendar year 2020.


Many Paid More in Federal Taxes This Tax Season, Says NJCPA Survey
 

Many Paid More in Federal Taxes This Tax Season, Says NJCPA Survey

Posted: May 2, 2019
An average of 36 percent of NJCPA members' clients paid more in federal taxes in 2018., according to a recent survey. And nearly 60 percent of respondents said that the Tax Cuts and Jobs Act either “definitely” or “somewhat” increased the number of clients that they would advise to leave the state.

New Due-Diligence Standards for Head-of-Household Filing Status
 

New Due-Diligence Standards for Head-of-Household Filing Status

Posted: May 1, 2019
Tax return preparers are subject to a variety of due diligence standards; verifying head-of-household status has recently been added. Preparers generally can rely in good faith on information a client furnishes but must make reasonable inquiries if the information appears wrong.

AICPA Launches International Tax Certificate Program
 

AICPA Launches International Tax Certificate Program

Posted: April 24, 2019
The American Institute of CPAs has introduced a U.S. International Tax Certificate Program that aims to give accounting and finance professionals added skills to navigate the vagaries of international tax compliance and planning.



The Federal Taxation Interest Group provides an open forum to discuss and educate members on Federal taxation issues, both domestic and international. 

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