IRS Proposes to Eliminate Nearly 300 Unnecessary Regulations

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There is no question that there is an overabundance of regulations at all levels of government, and especially the Federal government.  The Internal Revenue Service, one of the Federal government’s largest agencies, is no exception.  To their credit, however, that agency has been lining up a major “to do” list for revoking unnecessary and outdated […]

Retirement Plan Limits for 2018 After Tax Reform

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Prior to enactment of the Tax Cuts and Jobs Act (TCJA), the Internal Revenue Service published cost-of-living adjustments to various qualified retirement plans and related amounts for 2018 in News Release IR 2017-177 and Notice 2017-64. Recently, the Internal Revenue Service issued News Release 2018-19, clarifying that the TCJA does not affect these adjustments because […]

IRS Plans to Reject 2017 Income Tax Returns without Health Care Information Reported

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The Internal Revenue Service has stated that it will not accept electronically filed 2017 tax returns that do not report on the taxpayer’s compliance with the individual mandate provisions of the Affordable Care Act (ACA). The announcement notes that they will not accept the electronic tax return filing until the taxpayer indicates whether they had […]

NetSuite Offers Advanced Customer Support

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NetSuite has taken another step toward ensuring customers get the full value of their ERP investments with a new support offering, Advanced Customer Support (ACS). ACS is a new approach to customer success, providing ongoing, proactive support and solution services for NetSuite customers, enabling them to scale and adapt to growth, new business opportunities and new […]

Budget Act Signed Into Law by President Trump

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On February 9, 2018, President Trump signed the Bipartisan Budget Act (H.R. 1892). The bill’s passage came after a short government shutdown had taken place on Thursday evening and into Friday morning.  Unfortunately, the budget sets another short-term date (March 23), through which the government will continue to operate, leaving the potential, again, for yet […]

IRS Priority Guidance Plan Includes TCJA Clarification Projects

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The Treasury Department’s Office of Tax Policy and IRS use the Guidance Priority List each year to identify and prioritize the tax issues that should be addressed through regulations, revenue rulings, revenue procedures, notices, and other published administrative guidance. The Guidance Priority List focuses resources on guidance items that are most important to taxpayers and […]

PA Tax Updates & Reminders

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The Pennsylvania Department of Revenue recently released its December 2017/January 2018 newsletter, which highlights tax developments over the past year in the following areas: the sales and use tax treatment and requirements for marketplace sales; important personal income tax filing dates; amnesty penalties; and property tax/rent rebate program applications. See below for details and links […]

The Corporate Tax Rate Change and Fiscal-Year Taxpayers

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A long-time goal and initiative of tax reform, which came to fruition with the enactment of the Tax Cuts and Jobs Act (TCJA), has been serious corporate tax change. The Congressional and Presidential motivation to make America’s operating environment more comparable with the rest of the industrialized world is intended to enhance the competitive viability […]