Tax information from the IRS and shared by Vernoia, Enterline + Brewer, CPA LLC.
The IRS reminds employers that last year’s Tax Cuts and Jobs Act made changes to several programs that can affect an employer’s bottom line and its employees’ deductions. This includes employee achievement awards.
Employee Achievement Award Rules Read More »
For private corporations and their employees, IRS provides initial guidance on new tax benefit for stock options and restricted stock units
IRS Guidance on New Tax Benefit for Stock Options Read More »
The Internal Revenue Service wants to remind those with disabilities that the Tax Cuts and Jobs Act (2017) made major changes to Achieving a Better Life Experience (ABLE) accounts.
New ABLE Account Benefits Read More »
Wrongfully-incarcerated individuals, wishing to take advantage of the special retroactive tax exclusion, usually must file refund claims by Monday, Dec. 17, 2018, according to the Internal Revenue Service.
Wrongful Incarceration Exclusion Reminder Read More »
The IRS announced today that Tesla, Inc. has sold more than 200,000 vehicles eligible for the plug-in electric drive motor vehicle credit during the third quarter of 2018.This triggers a phase out of the tax credit available for purchasers of new Tesla plug-in electric vehicles beginning Jan. 1, 2019.
First Plug-in Electric Vehicle Manufacturer Crosses 200,000 Sold Threshold Read More »
The Internal Revenue Service today released the Criminal Investigation Division’s (CI) annual report, reflecting significant accomplishments and criminal enforcement actions taken in fiscal year 2018.
IRS Criminal Investigation releases Fiscal Year 2018 Annual Report Read More »
Tax reform that affects both individuals and businesses was enacted in December 2017. It’s commonly referred to as the Tax Cuts and Jobs Act, TCJA or simply tax reform. In addition to nearly doubling standard deductions, TCJA changed several itemized deductions that can be claimed on Schedule A, Itemized Deductions.
Tax reform affects if and how taxpayers itemize their deductions Read More »
The Tax Cuts and Jobs Act changed depreciation limits for passenger vehicles placed in service after Dec. 31, 2017.
Depreciation limits on luxury automobiles Read More »
The Internal Revenue Service reminds small business taxpayers that changes to the tax law mean they can immediately expense more of the cost of certain business property. Many are now able to write off most depreciable assets in the year they are placed into service.
Small businesses expense more expand bonus depreciation Read More »
Want to check on an organization’s tax-exempt status? Try the IRS Tax Exempt Organization Search (TEOS) tool. [youtube https://www.youtube.com/watch?v=V4uD0htKKkk]
Your gift means a great deal – make sure it’s real Read More »