IssuesWatch Podcast

Small Businesses: Encourage Workers to Do a Paycheck Checkup

Posted: May 10, 2019
The IRS reminds small businesses that recent tax reform legislation lowered the backup withholding tax rate to 24 percent and the withholding rate that usually applies to bonuses and other supplemental wages to 22 percent. The agency also urges employers to encourage their employees to check their withholding using the IRS Withholding Calculator.

IRS Explains Tax Treatment of State and Local Tax Refunds

Posted: March 29, 2019
The IRS has clarified the tax treatment of state and local tax refunds arising from any year in which the new limit on the state and local tax (SALT) deduction is in effect.

Trust and Estate Income Tax Returns Under the TCJA

Posted: March 22, 2019
Preparers of these so-called fiduciary returns should review changes - including new opportunities for tax savings - enacted by the law known as the Tax Cuts and Jobs Act.

Highlights of Opportunity Zone Tax Benefits

Posted: March 20, 2019
The Tax Cuts and Jobs Act generally allows a deferral of capital gains that are reinvested in certain designated areas called Opportunity Zones. Learn what you need to know to qualify for this tax benefit.

Two Ways the 199A Deduction Has Changed Retirement Planning

Posted: February 21, 2019
The Tax Cuts and Jobs Act has created the Sec. 199A deduction, which could affect retirement-planning strategies used by business owners. For example, those who have income that is too high to qualify for the full deduction might want to contribute to retirement accounts to lower taxable income.

Final Section 199A IRS Regulations Propose Safe Harbor for Rental Real Estate

Posted: January 30, 2019
In response to arguably the most requested clarification from tax professionals, Notice 2019-07 issued a proposed revenue procedure containing a safe harbor under which a rental real estate enterprise will be treated as a trade or business solely for purposes of §199A.