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FASB ASU 2105-17 requires all deferred tax assets and liabilities to be classified as noncurrent on an entity’s balance sheet. This ASU becomes effective in 2016 for public companies and
Learn more about this favorable tax provision that was made permanent by the PATH Act. Older Americans can make tax-free qualified charitable distributions from their IRAs. Read the article from
House Representative and Small Business Committee Chairman Steve Chabot, R-Ohio, announced late last week that he will cosponsor the Promotion and Expansion of Private Employee Ownership Bill of 2015 HR
A little known financial resource published by the Internal Revenue Service is a posting to their website titled, “Tax Tips”. We find these tips to be helpful to our clients
Generally, under the Internal Revenue Code, amounts received in settlement or as a result of litigation for damages (other than punitive damages) received on account of personal physical injuries or
The Internal Revenue Service issued final regulations to define when a domestic entity is considered a specified domestic entity that must report specified foreign financial assets in which it holds
According to recently released Internal Revenue Service examination percentages for the last decade, S corporations and partnerships are being audited at higher rates for fiscal year 2015 (October 1, 2014
After seven years of fighting, a settlement was reached in a patent infringement case between Marvell Technology Group (Marvel) and Carnegie Mellon University (CMU). Previous Court decisions had awarded royalties
The Senate Finance Committee in Congress held a recent hearing at the 215 Dirksen Senate Office Building titled: “Helping Americans Prepare for Retirement: Increasing Access, Participation and Coverage in Retirement
To the chagrin of the charitable organization community, the Internal Revenue Service (IRS) issued new reporting rules introduced in the fall of 2015. Those proposed regulations were intended to implement
Transactions between partners and partnerships can be exceedingly complex. As such, to ensure that there are not unanticipated tax consequences, such transactions have to be carefully vetted before they are
On December 18, 2015, President Obama signed into law the Protecting Americans from Tax Hikes (PATH) Act of 2015. This bill made more than 20 tax relief provisions permanent. Additionally,
