Tag: irs

Offshore Voluntary Disclosure Program Closing
Offshore Voluntary Disclosure Program (OVDP) Closing

First launched in 2009, the OVDP was originally established to allow taxpayers to voluntarily report…

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cave/tunnel looking out towards the outside
IRS Offers Limited Relief for the Section 965 Transition Tax

Section 965 generally imposes a transition tax on untaxed foreign earnings of certain foreign corporations…

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Are You Prepared for an IRS Audit
Are You Prepared for an IRS Audit?

The Internal Revenue Service’s (IRS’s) Employee Benefit Audit Program is used to audit and enforce.…

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Tax Reform Moving Expense and Depreciation Changes
Tax Reform: Moving, Expense and Depreciation Changes

Last month, the IRS released Notice 2018-42 which provides information to taxpayers and employers about…

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State and Local Tax Deductions Post Tax Reform
State and Local Tax Deductions Post Tax Reform

The IRS recently issued Notice 2018-54 which states that forthcoming regulations will address the deductibility…

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IRS Guidance on Business Interest Expense Limits
IRS Issues Guidance on the Business Interest Expense Limit

On April 2nd, the IRS issued Notice 2018-28, providing guidance on the business interest expense…

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IRS Provides Insight for Long-Term Capital Gain Treatment Under Section 1061
IRS Provides Insight for Long-Term Capital Gain Treatment Under Section 1061

On Thursday, March 1, 2018, the Internal Revenue Service (IRS) issued Notice 2018-18 (the “Notice”)…

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Rules Finalized for Partnerships Opting Out of Centralized Audit Regime
Rules Finalized for Partnerships Opting Out of Centralized Audit Regime

The IRS has issued final regulations for partnerships who wish to opt out of the…

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IRS Releases Updated Withholding Calculator and Form W-4
IRS Releases Updated Withholding Calculator and Form W-4

Last week, the IRS released an updated withholding calculator as well as a new Form…

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Home Equity Loan Interest Still Deductible, According to IRS
Home Equity Loan Interest Still Deductible, According to IRS

Following a surplus of questions from taxpayers and tax professionals alike, the IRS announced last…

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