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IRS provides repair regulations relief for small businesses
In Rev. Proc. 2015-20, the IRS substantially simplified the requirements for small businesses to adopt the tangible property regulations (the "repair regulations") for 2014. The relief allows small bu...
Tax legislation and reform cautiously move forward in new Congress
The White House and the new Congress continue to look for common ground on tax legislation and tax reform in 2015. Both sides say tax reform is possible in 2015 and behind the usual rhetoric there see...
Lawmakers urge IRS to revisit policy on asset seizures
During a recent hearing of the House Ways and Means Committee, lawmakers challenged IRS Commissioner John Koskinen on the Service's use of civil-asset forfeiture laws, demanding to know why some small...
How do I? Apply for an employer identification number (EIN)
Employers and other organizations must obtain an employer identification number (EIN) to identify themselves for tax administration purposes, such as starting a new business, withholding taxes on wage...
FAQ: What is new Form 1095-A, Health Insurance Marketplace Statement
Form  1095-A, Health Insurance Marketplace Statement, is a new information return. The IRS requires the Health Insurance Marketplace to report certain information  about every individual who...
March 2015 tax compliance calendar
As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important tax reporting and filing data for individuals...

IRS issues 2015 inflation-adjusted vehicle depreciation dollar limits

The IRS has released the inflation-adjusted limitations on depreciation ded...


Store not yet open to public eligible for bonus depreciation

A federal district court has concluded that two buildings designed to be re...


IRS Offshore Voluntary Disclosure Program to remain open indefinitely

The IRS recently announced that it will continue its offshore voluntary dis...


IRS issues proposed guidance on employee consents for employers seeking FICA tax refunds

The IRS has issued a proposed revenue procedure to clarify questions from e...


IRS will disallow most severance-pay FICA refunds after Quality Stores ruling

The IRS has announced that it will disallow claims for refunds of Fede...


IRS issues 2015 auto and truck maximum FMVs for cents-per-mile/fleet-average valuation

The IRS recently issued the maximum fair market value (FMV) amounts that de...


IRS updates accounting method procedures

Taxpayers must obtain the IRS’s consent to change any of their accoun...


IRS guidance describes application of research credit to internal use software

Treasury and the IRS have issued proposed regulations on the research tax c...


Congress retroactively increases excludable transit benefits; IRS provides guidance for employers

At the end of 2014, Congress passed the Tax Increase Prevention Act of 2014...


National Taxpayer Advocate’s Annual Report to Congress criticizes IRS budget cuts

National Taxpayer Advocate (NTA) Nina Olson has released her 2014 Annual Re...


VA - IRC conformity legislation enacted

For Virginia personal and corporate income tax purposes, Gov. Terry McAulif...