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October 20, 2017

The Internal Revenue Service issued the annual cost of living adjustments Thursday for 401(k) contributions, pension plans and other retirement-related matters.

The contribution limit for workers who are enrolled in 401(k), 403(b), most 457 plans, and...

October 19, 2017

On Thursday, October 19th, 2017, the IRS issued the annual inflation adjustments for 2017 for more than 50 tax provisions as well as the 2017 tax rate tables for individuals and estates and trusts (Rev. Proc. 2017-58). These provisions are used to fi...

October 19, 2017

The Internal Revenue Service said that for the upcoming 2018 filing season, it‎ will not accept electronically filed tax returns where the taxpayer does not address the health coverage requirements of the Affordable Care Act, the first tax season it...

October 19, 2017

Summary

Cross References
- Notice 2017-47

The Surface Transportation Act of 2015 changed the due date for filing partnership returns for tax years beginning in 2016. Under the old rules, Form 1065, U.S. Return of Partnership Income, was due by the fi...

October 19, 2017

Summary

Cross References
- Notice 2017-3

If an employer provides an employee with a company-owned vehicle, and the employee uses the vehicle for personal purposes, then the value of that personal use must be included as taxable income on the employee...

October 18, 2017

Summary

Cross References
- Edwards, T.C. Summary Opinion 2017-52, July 17, 2017

What determines if a return is Married Filing Jointly or Married Filing Separately? The simple answer is when two individuals are married on the last day of the year and...

October 10, 2017

Summary

Cross References
- Notice 2017-54

Each year the IRS updates the special per diem rates for taxpayers to use in substantiating the amount of ordinary and necessary business expenses incurred while traveling away from home. These special per di...

June 5, 2017

Summary

Cross References
- IR-2017-93, May 3, 2017

The IRS is reminding eligible small business startups that they can now choose to apply part or all of their research credit against their payroll tax liability instead of their income tax liability....

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Married Filing Jointly or Separately?

October 18, 2017

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