The IRS on Wednesday issued final regulations (T.D. 9925) implementing provisions of the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, that disallow… Read more “IRS releases final rules on business meals and entertainment”
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The new charitable deduction for nonitemizers
Residents of the United States are frequently ranked as among the most generous in the world (Charities Aid Foundation World Giving Index, October 2019). Charitable contributions flowing from… Read more “The new charitable deduction for nonitemizers”
The CARES Act and opportunities to implement changes on previously filed returns
While Treasury and the IRS have been busy issuing various forms of guidance intended to help taxpayers and tax professionals implement provisions of the Coronavirus Aid, Relief,… Read more “The CARES Act and opportunities to implement changes on previously filed returns”
AICPA continues to ask Congress to include PPP deductibility in upcoming legislation
In a letter dated Aug. 4, 2020, the AICPA joined over 170 organizations to urge Congress to “include a technical correction addressing the tax treatment of loan… Read more “AICPA continues to ask Congress to include PPP deductibility in upcoming legislation”
R&D tax credits: A valuable cash infusion for businesses
Almost every business in America is wrestling with a painful economic slowdown caused by the coronavirus pandemic. Research and development (R&D) tax credits can be a very… Read more “R&D tax credits: A valuable cash infusion for businesses”
GILTI rules address income subject to high foreign tax rate
The IRS issued an additional regulation package on the global intangible low-taxed income (GILTI) provision, Sec. 951A, which was added by the law known as the Tax… Read more “GILTI rules address income subject to high foreign tax rate”
Azari T Benjamin PL 