Tax regulations

The widow of a country music producer who continued to operate, at a loss, an establishment to encourage songwriters was not able to deduct her losses in excess of her income from the activity.

The American Institute of CPAs is asking Congress, the Internal Revenue Service and the Treasury Department for more guidance on the new Tax Cuts and Jobs Act, along with a dedicated service unit for tax practitioners.

The Internal Revenue Service has issued a notice providing guidance for employees and employers on what to do with the Form W-4 under the new Tax Cuts and Jobs Act.

Just when banks may have thought they have met all of their fiscal and regulatory obligations for the New Year (including the hotly debated IRS 871(m) requirements governing financial derivatives), yet a new one arises.

A new notice will allow manufacturers, producers and importers to avoid the failure to deposit penalties, provided they meet certain requirements.

The Internal Revenue Service is warning taxpayers who owe more than $51,000 in tax debts they could have their passport applications or renewals denied unless they pay up.

The Internal Revenue Service and Treasury Department will generally allow existing loans and other related-party transactions involving the overseas affiliates of multinational corporations to be taxed at the lower of two preferential rates, according to an official notice.

The Internal Revenue Service said it is working on developing withholding guidance to implement the tax reform bill signed into law on December 22.

The Internal Revenue Service has proposed guidance on the new partnership audit regime that promises to make it easier for firms, if not all their partners, but with some extra complications added by the new tax reform law.

Some taxpayers may be able to claim losses on 2016 returns.

The IRS has guidance for taxpayers who suffered under Harvey, Maria and Irma.

The Internal Revenue Service released revised guidance Thursday extending its relief for certain partnerships, real estate mortgage investment conduits, and other organizations that didn’t file the necessary returns by the new due date for tax years beginning in 2016.

The Internal Revenue Service released on Thursday the 2018 optional standard mileage rates that taxpayers and tax professionals can use to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

The Internal Revenue Service has issued a notice providing more time for partnerships, real estate mortgage investment conduits and some other types of businesses to file their returns.

A new revenue procedure provides a safe harbor allowing taxpayers to deduct costs for fixing deteriorating foundations.

Hurricanes Harvey, Irma and Maria, and the recent wildfires in California have affected millions of people and led to an outpouring of charitable gifts and donations, including contributions from businesses with employees in the path of the disasters.

The document consolidates the 429 page proposed plan into an easy to read highlights reel.

Who would the changes help — and hurt? Baird’s director of advanced planning weighs in.

The Treasury aims to kill proposed Section 2704 rules

The American Institute of CPAs has sent its tax reform wish list to the half dozen Republicans who are leading a rewrite of the tax code.