Tax & Accounting Blog
Tax & Accounting Blog
1975
The SEC’s new Regulation Best Interest (“Reg. BI”) imposes a set of obligations on broker-dealers when giving advice to retail customers. Reg. BI in part targets transactions involving 401(k) rollovers into…
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In 2017, court decisions gave penalty relief to certain taxpayers. Since then, the courts have clarified the scope of these decisions. Second Circuit Sets the Standard Under Code Sec. 6751(b) , certain penalties require that the immediate supervisor of the individual making the…
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U.S. Congress acts to help businesses and individuals As the spread of the Coronavirus COVID-19 starts to have a greater impact on the economy, U.S.…
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UBIA is the basis in a partnership’s property, and it can work to limit a partner’s section 199A deduction. If a partner recently bought their…
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The Setting Every Community Up for Retirement Enhancement (SECURE) Act was passed in December 2019. Many of its changes are already affecting employers and plan…
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Annual collection of resources aid the preparer and taxpayer alike The annual 2020 Whole Ball of Tax (WBOT) from Wolters Kluwer Tax & Accounting is…
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The IRS has some new resources for taxpayers navigating the gig economy. These include: a recent Gig Economy webinar, anda new Gig Economy Tax Center…
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The SECURE Act ended the prohibition against IRA contributions after age 70½. It also preserved the ability to make qualified charitable distributions (QCDs) at age…
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The IRS has provided guidance on the election to calculate the kiddie tax for 2018 and 2019 using the child’s allocable parental tax instead of…
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The 2020 tax season expands electronic filing requirements for exempt organizations. The Taxpayer First Act requires tax exempt organizations to electronically file information returns and…
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