As part of the Tax Cuts and Jobs Act, there have been changes to the deductibility of business-related meals and entertainment expenses. Here’s what you need to know.
Read MoreMonth: May 2018
Cloud Tax On Streaming Services Survives Legal Challenge
Chicago raised eyebrows when the city announced a streaming tax on Netflix and similar internet services. The Liberty Justice Center filed a lawsuit challenging the tax on behalf of Chicago taxpayers. This week, a court ruled in favor of the city, upholding the tax.
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10 Summer Tax Moves
Now that schedules are a bit more relaxed, summer can be a great time to catch up on your to-do list, including ways to save on your tax bill before year-end. Here are 10 tax moves to make now.
Read MoreIRS Warns About New Tax Pro Scam
The Internal Revenue Service (IRS) and its state and industry Security Summit partners are warning tax professionals about a new scam involving phishing emails posing as accounting and professional associations.
Read MoreHow To Read & Respond To Your IRS Notice
Have a notice from IRS show up in your mailbox? Those generally require a response. Here’s what you need to know.
Read MoreIRS Will Issue SALT Transaction Guidance
The Internal Revenue Service (IRS) has advised that it intends to propose regulations which will address attempts to re-characterize state and local tax payments following tax reform.
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Taxi King Pleads Guilty To Tax Fraud
New York’s so-called “Taxi King” has pleaded guilty to tax fraud. Evgeny “Gene” Freidman has pleaded guilty to a single count of criminal tax fraud, agreeing that he failed to remit $5 million in 50-cent MTA surcharges.
Read MoreAre Those Royal Wedding Gift Bags Taxable?
On May 19, 2018, well-wishers around the world watched the Royal Wedding. Those in attendance at St George’s Chapel, Windsor Castle, might have been lucky enough to snag a royal gift bag. Was it a gift or a promotion? Here’s what you need to know.
Read MoreIt’s Time For A Checkup On Your Taxes
Did you itemize your deductions on a Schedule A last year? If so, the Internal Revenue Service (IRS) encourages you to do a quick checkup on your taxes to avoid any nasty surprises at year end.
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Facebook Loses Bid To Move Tax Case To Appeals
A California judge dealt a blow to Facebook this week in its ongoing battle with the Internal Revenue Service (IRS), ruling that the social media giant does not have a right to move the matter to appeals.
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