IRS Issues Ruling on Premiums for Transpired EventsTax returns (Laws, regulations and rulesTax deductions (Laws, regulations and rulesForeign corporations (TaxationWright, P. BruceRiskmanagementsocietypublishing Inc
The IRS Changes Bringing Smiles to Employee’s and Plan Admin’s Faces Don’t make the mistake of glossing over the newest retirement plan rules and regulations going into effect in 2020. The IRS has recently released a variety of new standards that directly (and positively) impact qua...
When it comes to filing your taxes and maximizing your deductions, it’s essential to understand the rules and regulations surrounding qualifying relatives. By taking advantage of tax benefits offered by the Internal Revenue Service (IRS), you can potentially lower your taxable income and save money...
The Final Regulations took effect Jan. 14, 2025. The Proposed Regulations will not become effective until the IRS adopts final rules. Impact on US and Non-US Businesses The new regulations impact businesses across all industries, due to the widespread use of digital and cloud-based ...
Tax benefits help individuals and corporations reduce their overall tax bills. These benefits are a significant part of the tax regulations and legislation set by local, state, and federal governments. Tax benefits such asdeductions, credits, exemptions, and exclusions reduce the amount you owe annua...
State-Specific Exempt Payee Regulations While the IRS governs federal backup withholding rules, individual states may impose additional reporting requirements or exemptions for businesses operating in their jurisdiction. Some states have lower withholding thresholds for non-exempt payees. Certain states require...
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The Sinopoli case is a reminder of the importance of following tax laws and regulations. Yes, generally, rental expenses can be deducted, and some rental income isn't taxable under the Master’s rule. However, deductions claimed must always be ordinary, necessary, and reasonable for your busine...
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The U.S. government has slowly been establishing broader financial reporting requirements with the Bank Secrecy Act, the Patriot Act, and many other laws and regulations. The provisions in the Infrastructure Investment and Jobs Act and the resulting proposal from the IRS are just the latest ...