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Tax Practice

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August 18, 2020

Employers wait for guidance on payroll tax deferral

By Roger Russell 3 min read

Delaying tax payments is one thing; forgiving them is another thing entirely.

Trump pledges tax credits, tariffs to redirect jobs from China

By Brendan Murray 2 min read

President Donald Trump said he’ll punish American companies that move jobs abroad and reward firms with tax breaks for shifting work from China to the U.S., proposals aimed at hastening the decoupling of the world’s largest economies.

IRS makes Form 1040-X amended tax returns available for e-filing

By Michael Cohn 2 min read

The service is now letting taxpayers submit Form 1040-X electronically when they want to file an amended tax return through commercial tax software.

IRS offers reprieve for taxpayer checks caught in backlog of unopened mail

By Michael Cohn 3 min read

The Internal Revenue Service is giving taxpayers a break if the checks they mailed in to pay their taxes still haven’t been opened up yet and are sitting in the trailers the IRS set up during the pandemic.

IRS reopens registration for $500 stimulus claims for children

By Michael Cohn 5 min read

The Internal Revenue Service is giving parents another chance to list their kids so they can receive an extra $500 per child in economic impact payments under the CARES Act.

Valuation considerations relating to NOL limits under CARES Act and TCJA

By Kevin Hagemeier 6 min read

The limitation on net operating losses under the 2017 tax reform were mostly reversed in the stimulus package in March, but there are some complexities to keep in mind.

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Tax Fraud Blotter: Well-dressed thieves

By Jeff Stimpson 6 min read

Reaching across the Isle; room disservice; game of tag; and other highlights of recent tax cases.

White House says no plan to end payroll tax permanently

By Laura Davison 4 min read

White House officials said the administration has no plans to do away with the payroll tax despite President Donald Trump saying he would seek a permanent repeal if he wins another term.

Highway use tax returns for heavy vehicles due Aug. 31

By Jeff Stimpson 1 min read

The IRS is reminding truckers and others that the Form 2290 is due at the end of the month.

AICPA asks IRS and Treasury for clarity on Trump’s payroll tax deferral

By Michael Cohn 4 min read

The American Institute of CPAs has sent a letter to top officials asking for more guidance on the president's executive order.