The relief applies to individuals whose tax withheld and estimated tax payments equal at least 85% of the tax shown on their 2018 tax return.
Source: The Tax Adviser
Final regulations govern Sec. 965 transition tax
The IRS finalized proposed regulations issued last August on the new transition tax, which generally taxes the accumulated post-1986…
Half of IRS employees to be recalled during tax season
The IRS issued an updated contingency plan outlining how it will function during tax season. Source: The Tax Adviser
IRS announces Free File launch
The IRS announced that its Free File program, which provides free electronic filing options to moderate-income taxpayers, opened Jan.…
IRS sets start date for tax season, will issue refunds during government shutdown
The IRS announced that tax season will start in late January and that it will issue refunds to taxpayers…
Sec. 199A: Questions and answers
Jeff Bilsky, CPA, senior practice leader for BDO’s national partnership taxation group, sat down recently for a question-and-answer session…
Government shutdown would halt many IRS operations
A partial government shutdown at midnight on Friday would affect the IRS, which has not been fully funded for…
2019 standard mileage rates announced
The IRS released guidance on the standard mileage rate for business, medical and certain moving expenses incurred in 2019. …
Proposed regs. govern tax on base-erosion payments
The IRS issued proposed rules on the Sec.59A base-erosion anti-abuse tax (BEAT), one of a number of new international…
IRS explains disallowance of qualified transportation fringe benefits for parking
The IRS issued guidance outlining how to determine the amount of parking expense that is nondeductible under Sec. 274(a)(4)…