News & Analysis as of

Internal Revenue Service Filing Requirements Tax Deductions

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Allen Barron, Inc.

U.S. Expatriates Should Read IRS Publication 54 - Tax Guide for U.S. Citizens and Resident Aliens Abroad

Allen Barron, Inc. on

U.S. expatriates should read IRS Publication 54 - Tax Guide for U.S. Citizens and Resident Aliens Abroad. This is a beneficial article published by the agency itself, detailing the unique and specific tax reporting...more

Fox Rothschild LLP

Internal Revenue Service Publishes FAQs About Forthcoming Coronavirus Economic Impact Payments

Fox Rothschild LLP on

The Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most individuals. However, some...more

Morgan Lewis - ML Benefits

COVID-19 Relief Recommendations for the IRS

Morgan Lewis recently submitted a comprehensive list of IRS relief recommendations to the head of the IRS Office of Chief Counsel....more

McDermott Will & Schulte

Weekly IRS Roundup September 30 – October 4, 2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 30 – October 4, 2019. September 30, 2019: The IRS published a draft of the tax year...more

McDermott Will & Schulte

Weekly IRS Roundup September 9 – 13, 2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 9 – 13, 2019. September 9, 2019: The IRS released a revision to its Internal Revenue...more

Womble Bond Dickinson

How to Make Charitable Contribution Deductions Vanish in to Thin Air – a Review of the Charitable Contribution Substantiation...

Womble Bond Dickinson on

On July 27, 2018, the Treasury issued final regulations regarding substantiation requirements for cash and noncash charitable contributions. T.D. 9836 (2018). The final Regulations reflect amendments to Section 170 of the...more

Foodman CPAs & Advisors

IRS Accuracy Related Penalties is the number one most litigated tax issue

The National Taxpayer Advocate 2017 Report to Congress states that the Accuracy-Related Penalty under Internal Revenue Code Section 6662 remains the number one most litigated tax issue and has been over the last four years. ...more

Coblentz Patch Duffy & Bass

IRS Publishes New Gift Substantiation Regulations

Last month, the IRS issued final regulations entitled “Substantiation and Reporting Requirements for Cash and Noncash Charitable Contribution Deductions,” codified as Treasury Regulation Sections 1.170A-15 (cash), -16...more

Foodman CPAs & Advisors

“File before the IRS discovers that you failed to choose the Exclusion”: words of wisdom to US Taxpayers Living Abroad

If you are a US citizen or a Permanente Resident and you live abroad, you are taxed on your worldwide income and you are considered a US Taxpayer. ...more

Foodman CPAs & Advisors

Here is what you need to know about IRS proposed draft of Form 1040 for 2017

Foodman CPAs & Advisors on

As a courtesy to Taxpayers, IRS provides an “early release draft” of an IRS tax form. The drafts are not to be used for filing, but are generally released when most changes have been incorporated into the Form. The...more

Foodman CPAs & Advisors

Tax Preparation is NOT a Commodity

As we approach this year’s tax filing deadline of April 18th, do you think that you have your Tax Return under control? Before you answer yes, take the time to examine and evaluate who is preparing your taxes. Do they have...more

Orrick, Herrington & Sutcliffe LLP

IRS Updates Golden Parachute Audit Guide

This is our first of many alerts during 2017 as the new administration signals the rollback of many regulations (e.g., fiduciary rules and pay ratio). We will keep you posted. In January 2017, the Internal Revenue...more

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