This semiannual review from The Tax Adviser covers recent developments in federal individual income tax, including issues of alimony, trade or business expenses, and recognition of loss, among many other topics.
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New revenue recognition accounting rules let Tesla reduce its accumulated deficit by $520 million pretax at the start of the year. This article reviews how the rules have affected the company, along with Ford and General Motors.
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The IRS should issue immediate guidance in 39 areas affected by P.L. 115-97 (known as the Tax Cuts and Jobs Act), AICPA Tax Executive Committee Chair Annette Nellen said in a letter to the IRS and Treasury on Monday. She called on the IRS to issue immediate guidance to help both taxpayers and tax…
Everyone is talking about the big changes to the tax code, but it's important your members in public accounting don't lose sight of the other big issues affecting clients in 2018. Share this AICPA Insights blog post on your communications channels to help your members learn what their clients should focus on this…
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What the tax reform bill means for individuals
How the tax overhaul would change business taxes
Tax Resource Library
The IRS on Thursday issued new income tax withholding tables that reflect new tax rates and other changes for individuals implemented by P.L. 115-97, known as the Tax Cuts and Jobs Act, enacted Dec. 22 (Notice 1036). Employers should use the updated withholding rules for 2018, putting them into effect as soon as possible but no later than Feb. 15, the IRS said. Until then, employers should continue to use the 2017 withholding…