Internal Revenue Service
TAX TUESDAY: Are You Ready to File the New IRS 1040 Form?
Things are changing, the new 'much shorter' 1040 Form is replacing the old 1040, 1040-A and 1040-EZ. The question is, are you ready for a new, shorter form? more
IRS Issues Guidance on Meals and Entertainment
The IRS has issued interim guidance on Meals and Entertainment in connection with the Tax Cuts and Jobs Act of 2017. This article provides a summary of that interim guidance and links for related content and other source information. more
Intuit confirms 'delivery of new 1040 form' to taxpayers.
In a statement responding to last Friday's 'unveiling' of the new IRS Form 1040 under streamlined 'tax simplification', Intuit affirms that they would be "ready to deliver the new 1040...to taxpayers." more
W-2 Verification Code Program is Expanding in 2017
Did you know there is something called the W-2 Verification Code Program? Contributing Author Beverly Lang tells you all about it. more
AICPA Asks IRS to Revise Accounting Method Change Procedures
The American Institute of CPAs recently sent a letter to the Internal Revenue Service with three recommendations on the accounting method change. See what they are. more
Aug 24, 2017 5:00 PM From The Editor
IRS Schedules e-services Outages
Outages for the Internal Revenue Service's e-Services will occur this month as it enters the final stages of a technology upgrade. more
The Power of Standardized Processes and Procedures
Part 4 of our '2016 Most Powerful Women in Accounting' series features Joe Woodard and Dawn Brolin, managing member of Powerful Accounting, on the importance of adding niche services to your firm. more
Why Employers Are Choosing to E-File W-2s and 1099s
Rick Roddis, president of ComplyRight Distribution Services, goes inside why today's employers are switching from time-consuming, traditional paper filing to e-filing. more
Important Dates to Remember
Tax-related filings for the end of the year are due even sooner than before. Are you ready for the new deadlines? more
Accounting for Assets Part 6: MACRS – An Introduction
As part of our miniseries on 'Accounting for Assets,' we begin our summary of MACRS Depreciation for Income Tax purposes. more
Accounting for Assets – Part 5
As part of our miniseries on 'Accounting for Assets,' this week’s 'Accounting Tips Tuesday' examines IRS Section 179 Expense Deductions. more
Accounting for Assets – Part 4
This week, our mini-series on assets examines two additional textbook methods for book-value depreciation. more
Accounting for Assets – Part 3
In the third part of our 'Accounting for Assets' miniseries, we examine the differences between 'book' and 'tax' depreciation, as well as some of the classic textbook methods of book-value depreciation. more
When is a Partner Also an Employee? Never!
Today’s article discusses the instances in which a partnership or limited liability company treats its partners or members as employees even though tax law prohibits this practice. more
Limited Liability Companies - How Do You Want to Be Taxed?
The importance and benefits of establishing an LLC can be completely overshadowed by the negligence of not making the correct entity taxation election. This article is focused on assisting you in making the correct election. more
ObamaCare Update: IRS Issues final PPACA Affordability Regulations
The Internal Revenue Service has issued regulations or notices of regulations regarding ObamaCare for the second day in a row. more
ObamaCare Update: IRS Issues New Clarifications
On December 16, 2015 Internal Revenue Service officials provided additional answers related to the Patient Protection and Affordable Care Act, better known as ‘Obamacare’. more
Identity Theft is Not the Only Scam Running
Forewarned is forearmed. Be on the watch for this year's tax fraud schemes. Rob Shaff, IA's resident tax author reveals two of the newest cons that scam artists will attempt to rip you off while making you think it's the IRS doing it. more
ACA and Small Business: What You Don’t Know Can Be Dangerous – Part 1
Under the Affordable Care Act, Employee Payment Plans are forbidden. Beginning January 1, 2014, an employer is subject to a $100 per day/per employee penalty for continuing to use an EPP. more
ACA Update: IRS 'patches' some PPACA penalty provisions
IRS penalty patches issued today could temporarily relieve some employers from PPACA fines if they have been using employer payment plans to pay for employee health benefits. more
Tax Practice News