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Fiscal Year (FY) 2015 Budget Proposals2013 Tax Year-In-ReviewFinal Net Investment Income, Additional Medicare Tax Regulations
Filing season update: e-filing and refund amounts up; IRS customer service down
Because of the federal government's 16-day shutdown in October 2013, the IRS delayed the start of the 2014 filing season by 10 days until January 31, 2014. Since then, the IRS has reported that on ...
IRS Releases 2013 Final Form 8960, Net Investment Income Tax; Use Required With Forms 1040, 1041
The IRS has released final 2013 Form 8960, Net Investment Income Tax-Individuals, Estates, and Trusts, just in time for the 2014 tax filing season. Many taxpayers have complained that calculating t...
Proposed partnership regulations would deny basis for certain guarantees
The IRS issued proposed partnership regulations (NPRM REG-119305-11) that would tighten the requirements under Code Sec. 752 for allocating partnership liabilities to individual partners, and would...
IRS releases latest individual tax return zip code statistics
The IRS Statistics of Income (SOI) Division has released statistics on 2011 Individual Income Tax ZIP Code and County Data, which is broken down by income categories within particular zip codes. Th...
U.S., Canada move forward with FATCA
The U.S. Department of Treasury has announced that U.S. and Canada have signed an intergovernmental agreement (IGA) to implement the Foreign Account Tax Compliance Act (FATCA). The U.S.–Canad...