Tax regulations

IRS plans to further delay foreign currency tax rules

The Internal Revenue Service and the Treasury Department are going to amend the Section 987 regulations to postpone them for another year.

Tax regulations Michael Cohn June 15

Tax regulations Michael Cohn June 15
AICPA recommends items for IRS priority guidance plan

The American Institute of CPAs sent a list of more than 150 recommendations for the Internal Revenue Service to add to its Priority Guidance Plan where it would like to see the IRS provide more clarity, with a particular spotlight on the Tax Cuts and Jobs Act.

Tax planning Michael Cohn June 14

Tax planning Michael Cohn June 14
Video The 365-day return

Tax professionals don’t like surprises and they don’t like non-billable hours. Regulation changes consume a lot of time and bring about the risk of errors. The right technology to stay on top of change can help keep the surprises to a minimum and let you focus on your clients.

Tax regulations May 17

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Tax regulations May 17
Colleges get tax reprieve in push to value endowment assets

Private universities won’t be taxed on unrealized income from their billions of dollars in assets before the levy was approved.

Tax reform June 11

Tax reform June 11
IRS plans regulations to ease taxes on college endowments

The Internal Revenue Service said Friday it plans to issue regulations may limit the impact of a new excise tax on the endowments of private colleges and universities under the new tax law.

Tax reform Michael Cohn June 8

Tax reform Michael Cohn June 8
IRS provides penalty and filing relief on transition tax

The agency is waiving some of the late-payment penalties pertaining to the section 965 transition tax on foreign earnings in the new tax law.

Tax reform Michael Cohn June 4

Tax reform Michael Cohn June 4
AICPA asks IRS for FAQs on taxation of virtual currency

The American Institute of CPAs wants additional guidance about Bitcoin taxes.

Digital currencies Michael Cohn May 30

Digital currencies Michael Cohn May 30
Voices ICOs and how much taxable income they generate

Charles Kolstad
Partner Mitchell Silberberg & Knupp LLP

There are many novel and unresolved accounting and tax issues in initial coin offerings that haven't received much attention.

Digital currencies May 30

Digital currencies May 30
IRS provides info on tax reform changes to moving, mileage and travel expenses

A new notice offers details on how the Tax Cuts and Jobs Act is forcing changes in write-offs for items like job-related cars and moves.

Tax reform Michael Cohn May 25

Tax reform Michael Cohn May 25
AICPA wants changes in IRS proposed rules for valuing inventory

The American Institute of CPAs has sent three recommendations to the Internal Revenue Service about modifying the IRS’s proposed regulations for inventory valuation.

Tax regulations Michael Cohn May 23

Tax regulations Michael Cohn May 23

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