The IRS issued guidelines on September 1 (Notification 2020-69) that provide an exemption for S Corporation with AE&P (accumulated earnings and profits) after a C corporation...
Congress passed major tax reform in the Tax Cuts, and Jobs Act passed on December 22, 2017. This legislation, which affects individuals and businesses, is known as the TCJA or Reform...
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...
IRS has recently released a proposed guidance. It is for the provision of Tax Cuts & Jobs Act which permits for 100 percent depreciation deduction on the qualified property. This...