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Fiscal Year (FY) 2016 Budget ProposalsTax Increase Prevention Act of 2014/ABLE Act/Omnibus Funding Agreement2014 Year-End Planning
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 designate the proper valuation rule for employers calculating fringe benefit income from employer-provided automobiles, trucks,...
IRS updates accounting method procedures
Taxpayers must obtain the IRS’s consent to change any of their accounting methods under Code Sec. 446(e). The IRS has updated and made changes to its revenue procedures for obtaining IRS consent...
IRS guidance describes application of research credit to internal use software
Treasury and the IRS have issued proposed regulations on the research tax credit with respect to computer software developed for internal use. The proposed regulations define "internal use softwa...
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 (2014 Tax Prevention Act) (P.L. 113-295), which extended numerous provisions for the 2014 tax year. One of these extensions ...
National Taxpayer Advocate’s Annual Report to Congress criticizes IRS budget cuts
National Taxpayer Advocate (NTA) Nina Olson has released her 2014 Annual Report to Congress and cautioned that due to budget cuts, the IRS’s customer service has reached unacceptably low levels ...
TX - High court asked to review decision on sexually oriented business tax
The U.S. Supreme Court has been asked to review a decision of the Texas Court of Appeals which held that the stateâ€™s sexually oriented business tax was a general excise tax rather t...