Posts by John Antonelli II

Reporting Capital on Schedule K-1
Two Proposed Methods for Reporting Tax Capital on Schedule K-1

IRS proposed two methods for partnerships to satisfy the tax capital reporting requirement for tax…

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Filing Partnership Tax Returns
IRS Provides Welcome Relief for Partnership Filings to Obtain CARES Act Benefits

The CARES Act provides retroactive tax relief that affects partnerships, including relief for the taxable…

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Payroll Tax Credits for COVID-19 Mandated Paid Leave
Payroll Tax Credits & Rapid Refunds for Employers Making COVID-19 Leave Payments

The IRS has just clarified that employers can subtract the cost of the new mandated…

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Executive Compensation - Execs in Boardroom
IRS Proposes Regulations Limiting Public Company Deductions for Executive Compensation Over $1 Million

New IRS proposed regulations┬áprovide new info regarding executive compensation for privately held companies that are…

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Businesswoman driving car
Simplifying the Taxation of Employees’ Personal Use of Company Vehicles

Personal use of a company vehicle generally results in taxable wages for the employee. But…

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Metal globe resting on paper currency
Treasury Notice: Proposed GILTI Regulations for Domestic Partnerships And S Corporations

On August 22, 2019, the Department of the Treasury and the Internal Revenue Service (collectively,…

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A blue barcode on a blue background
Final Regulations Remove Two-Year Deferral of Advance Payments for Inventoriable Goods

On July 11, 2019, the IRS and Treasury released final regulations removing Section 1.451-5 of…

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Male butcher paying bills, working at laptop and talking on cell phone in butcher
Final Regulations of Section 199A

On January 18, 2019, the Department of the Treasury (Treasury) and Internal Revenue Service (IRS)…

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Close up right hand female using calculator
Pass-Through Deduction Details Clarified by IRS/Treasury

Recently, the IRS and Treasury Department issued proposed regulations for a new provision which allows…

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layers of 100 dollar bills
10 Things to Know About Tax Reform Changes to Deductibility of Executive Compensation

On August 21, the IRS issued Notice 2018-68 to provide further guidance on certain changes…

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