Back-to-School Shoppers Find Tax Relief in Sales Tax Holidays
Sales tax holidays are back!…in some states As summer winds down, parents across the country are shifting their thoughts from lazy summer days to the…
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FASB Proposes to Improve Guidance on Distinguishing Liabilities from Equity
The FASB has issued an exposure draft proposing to improve guidance on distinguishing liabilities from equity, including convertible instruments. Stakeholders are asked to review and provide…
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Individual Coverage and Excepted Benefit Health Reimbursement Arrangements
Starting in 2020, employers that qualify can set up “individual coverage” health reimbursement arrangements (HRAs). Employers will also be able to set up “excepted benefit…
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Arizona Retroactively Conforms to Tax Cuts and Jobs Act
Arizona retroactively conformed to income tax changes made by the Tax Cuts and Jobs Act. A bill signed by the governor on May 31, 2019,…
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Section 267A Deduction Disallowance: “Disregarded Payments”
A U.S. taxpayer that deducts a “disregarded payment” of interest or royalties to a related person may find its deduction disallowed under IRC §267A. Under…
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CCH Axcess™ iQ Honored as Finalist in 2019 CPA Practice Advisor Technology Innovation Awards
Game-changing technology for a rapidly changing industry Wolters Kluwer announced that its CCH Axcess™ iQ solution was honored as a finalist in the 2019 CPA…
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Author’s “Brand Income” is Business Income Subject to Self-Employment Tax
All of a novelist’s publishing income was self-employment income from her writing business, rather than “brand income” attributable to her name and likeness. The Tax…
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Publication 15-T Introduces Employers to Tax Withholding Changes for Wages on Form W-4
New IRS Publication 15-T, Federal Income Tax Withholding Methods, provides employer procedures for withholding for wages on revised Form W-4. The IRS has released a…
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2020 Draft Form W-4, Employee’s Withholding Allowance Certificate, Makes Changes from Prior Forms
Draft 2020 Form W-4, Employee’s Withholding Allowance Certificate, makes significant changes to the prior form. In particular, the 2020 form: takes a five step approach;…
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Wolters Kluwer Launches TaxWise® Mobile
New Taxwise interface supports remote tax preparation work Wolters Kluwer Tax & Accounting announced the launch of TaxWise® Mobile, a new mobile interface designed to…
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