Tax regulations

The Internal Revenue Service has issued a notice for determining the value of personal use of employer-provided vehicles under the Income Tax Regulations’ special valuation rules.

Notice says account transcript that includes a transaction code of “421” and the explanation “Closed examination of tax return” can serve as the functional equivalent of an estate tax closing letter.

The American Institute of CPAs is asking the Internal Revenue Service to simplify the regulations and make them less of a burden.

The Internal Revenue Service has released guidance easing penalties for some mistakes.

With Republican control of Congress and the presidency, most practitioners think some kind of change is coming to the Tax Code – but they differ wildly on what form it will take.

The IRS's annually updated standard mileage rates for deducting costs of operating an automobile come with some important rules.

IRS issues 2017 optional standard mileage rates for deductible costs of operating an automobile.

The American Institute of CPAs is asking the Internal Revenue Service and the Treasury Department to withdraw and, if necessary, re-propose their rules for the valuation of interests in corporations and partnerships for estate, gift and generation-skipping transfer tax purposes.

President-elect Donald Trump warned U.S. companies that moving manufacturing to other countries would be a “very expensive mistake” as they will face heavy new taxes—an approach likely to face resistance from lawmakers in his own party.

Small businesses in the U.S. on average pay an extra $5,128 in taxes to make up for revenue lost to the use of offshore tax havens by multinational corporations, according to a new study.

The Securities and Exchange Commission’s comment letters to public companies on their tax disclosures are prompting better tax compliance, according to a new study.

Donald Trump’s incoming administration may decide to make some changes in tax policy for household employers and employees, including an idea that Trump credited to his daughter Ivanka to allow parents to deduct childcare expenses from their taxes.

The Internal Revenue Service is changing the process for requesting documents from tax-exempt groups.

The Internal Revenue Service has removed a rule requiring that a discharge of indebtedness for which a Form 1099–C, ‘‘Cancellation of Debt,’’ must be filed occurs when a 36-month non-payment testing period expires.

The Internal Revenue Service needs to do more to ensure taxpayers aren’t using virtual currencies like bitcoin to avoid taxes, according to a new report.

The Internal Revenue Service has issued final regulations on controlled foreign corporations to provide rules about the treatment of U.S. property held by the CFC in connection with transactions involving partnerships.

Republicans on the tax-writing House Ways and Means Committee sent a a letter Thursday to Treasury Secretary Jacob Lew asking him to withdraw the Treasury’s recently proposed regulations on estate and gift taxes.

The IRS’s recent Audit Techniques Guide for the Tangible Property Regulations can help business taxpayers avoid problems with IRS examiners in interpreting the 2014 regulations on how to treat expenses incurred for materials, supplies, repairs and maintenance.

Earlier this week, I moderated an Accounting Today web seminar on Understanding Affordable Care Act Reporting: Year 2.

The IRS has released cost-of-living adjustments for the dollar limitations for pension plan contributions and other retirement-related items for tax year 2017.