A like-kind exchange makes it possible for people to get rid of their asset and acquire another—a similar one, without incurring a capital gains tax liability from selling off...
The Internal Revenue Service (IRS) recently published comprehensive information on their website on tax policy for the cannabis industry, specifically the marijuana industry. The site...
The OPR supports the IRS's strategy to improve tax law enforcement, ensuring that tax professionals meet tax practice standards and comply with the law. The OPR is the regulatory...
Not many people know how the Taxpayer Advocate Service (TAS) works and what types of cases it handles. Some have indicated that they see the TAS as primarily concerned with low-income...
Section 4261 of the IRC typically imposes a special 7.5% air tax on amounts paid for "taxable transportation" and certain segment-specific dollar taxes. However, certain...
Background. Effective for each tax year beginning after December 31, 2017, an ATEO is generally subject to a special tax (currently 21%) on the amount of any employee's overcompensation...
There is a short provision on the new tax reform bill that was just enacted which might impact how employees settle sexual harassment claims. According to section 13307 of TCJA, there...
The IRS issued depreciation limits for commercial passenger cars placed in service by taxpayers in 2020. The IRS also released annual income inclusion values for these vehicles first...
Even though the TCJA of 2017 hit several small businesses, a couple of these businesses enjoyed relief. While many enterprises want rate change and extra deductions, wine producers,...