TAXATION


IRS Extends Transition Relief for Unclaimed Property
 

IRS Extends Transition Relief for Unclaimed Property

Posted: November 21, 2018
IRS has extended the transition relief in Rev. Rul. 2018-17 (Withholding and Reporting With Respect to Payments from IRAs to State Unclaimed Property Funds) so that a person will not be treated as failing to comply with the withholding and reporting requirements with respect to payments made before the earlier of Jan. 1, 2020, or the date it becomes reasonably practicable for the person to comply with those requirements.

Making Large Gifts Now Won’t Harm Estates After 2025
 

Making Large Gifts Now Won’t Harm Estates After 2025

Posted: November 21, 2018
The IRS has announced that individuals taking advantage of the increased gift and estate tax exclusion amounts in effect from 2018 to 2025 will not be adversely impacted after 2025 when the exclusion amount is scheduled to drop to pre-2018 levels.

Managing the Compression of Tax-Season Work
 

Managing the Compression of Tax-Season Work

Posted: November 20, 2018
There are many ways a firm can prepare in order to reduce stress and manage the work compression of a busy tax season. These include evaluating clients, training new staff and frontloading any work possible.

Record Retention for Tax Return Preparers
 

Record Retention for Tax Return Preparers

Posted: November 19, 2018
The rules on record retention can be complex. It's important to stay up to date on federal, New Jersey and New York record retention requirements and recommendations for tax preparers.

Understanding the New Kiddie Tax
 

Understanding the New Kiddie Tax

Posted: November 8, 2018
The new tax law has made significant changes to the kiddie tax. Here's how the tax is determined under those rules.

The New QBI Deduction is Finally Clearer
 

The New QBI Deduction is Finally Clearer

Posted: November 6, 2018
Recent proposed regulations on the Sec. 199A qualified business income deduction contain mostly good news for taxpayers, providing clarity and permitting many businesses to qualify for this important provision.

Do You Have the Skills to Benefit From the TCJA?
 

Do You Have the Skills to Benefit From the TCJA?

Posted: November 2, 2018
The Tax Cuts and Jobs Act (TCJA) may represent the biggest current growth opportunity for your firm, but it’s going to take some hard work on your part to reap the rewards.


Highlights of Tax Reform for Businesses
 

Highlights of Tax Reform for Businesses

Posted: October 10, 2018
The Tax Cuts and Jobs Act included a few dozen tax law changes that affect businesses. Most of the changes in the new law take effect in 2018 and will affect tax returns filed in 2019.

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