TAXATION

Choosing a Career Path
 

Choosing a Career Path

Posted: December 10, 2019
One of the many benefits of being a CPA is the wide array of career paths. CPAs can focus on providing professional services to a specific industry or they can choose a particular route they would like to go, such as advisory, audit or tax.


Startup Company Stock Options and IRC Section 83(i) – Useful or Useless?
 

Startup Company Stock Options and IRC Section 83(i) – Useful or Useless?

Posted: December 4, 2019
In order to comply with IRC Sec. 83(i), a company will need to monitor both its own eligibility to offer employees an IRC Sec. 83(i) deferral as an eligible corporation and the eligibility of the employees receiving grants of stock options or RSU to be considered qualified employees for purposes of IRC Sec. 83(i).

Final Regs Issued on the Foreign Tax Credit
 

Final Regs Issued on the Foreign Tax Credit

Posted: December 3, 2019
The IRS has issued final regulations on the Foreign Tax Credit, a long-standing tax benefit that generally allows individuals and businesses to claim a credit for income taxes paid or accrued to foreign governments.


A Quirk in the TCJA’s Small Business Exceptions
 

A Quirk in the TCJA’s Small Business Exceptions

Posted: December 2, 2019
Some small businesses that otherwise qualify might not be permitted to use the cash method of accounting or certain provisions that simplify record keeping because of a quirk introduced by the Tax Cuts and Jobs Act. Find out which businesses might not qualify.


Final Regs Confirm: Making Large Gifts Now Won’t Harm Estates After 2025
 

Final Regs Confirm: Making Large Gifts Now Won’t Harm Estates After 2025

Posted: November 22, 2019
The Treasury Department and the IRS today issued final regulations confirming that individuals taking advantage of the increased gift and estate tax exclusion amounts in effect from 2018 to 2025 will not be adversely impacted after 2025 when the exclusion amount is scheduled to drop to pre-2018 levels.

Ten Major Trends in IRS audits
 

Ten Major Trends in IRS audits

Posted: November 22, 2019
Technology, declining budgets and other factors are radically changing how and which tax returns get looked at.

IRS to Begin Visiting Taxpayers Who Have Tax Compliance Issues
 

IRS to Begin Visiting Taxpayers Who Have Tax Compliance Issues

Posted: November 20, 2019
The IRS will begin visiting taxpayers who have ongoing tax compliance issues. The IRS will focus its efforts in areas where there have been a limited number of revenue officers available due to declining IRS resources.

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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