Tax Tips

Congress Enacts Law Allowing HRAs Under the Affordable Care Act

AICPA.Org Tax Advisor - Tue, 12/13/2016 - 5:00pm
The Senate passed the 21st Century Cures Act, which, among other things, permits certain employers to offer health reimbursement arrangements to employees without running afoul of the Patient Protection and Affordable Care Act’s market reform provisions.
Categories: Tax Tips

Standard Mileage Rates for 2017 Are Announced

AICPA.Org Tax Advisor - Tue, 12/13/2016 - 1:15pm
The IRS issued the 2017 standard mileage rates for determining the deductible costs for operating a vehicle for business, medical, charitable or moving purposes.
Categories: Tax Tips

Rules Govern Covered Asset Acquisitions Under Sec. 901(m)

AICPA.Org Tax Advisor - Tue, 12/06/2016 - 1:30pm
The IRS issued temporary regulations that are designed to prevent taxpayers from misapplying the Sec. 901(m) statutory disposition rule in certain cases when a foreign asset is disposed of.
Categories: Tax Tips

Regulations Implement New Due-Diligence Requirements for Tax Return Preparers

AICPA.Org Tax Advisor - Mon, 12/05/2016 - 2:00pm
Recent legislation added these requirements, which previously applied only to the earned income tax credit.
Categories: Tax Tips

New Online Tool Allows Taxpayers to Check IRS Account Information

AICPA.Org Tax Advisor - Thu, 12/01/2016 - 12:35pm
The IRS has launched an online tool that allows individual taxpayers to get their account balances online, including tax due, penalties, and interest.
Categories: Tax Tips
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