Tax regulations

The Treasury Department and the Internal Revenue Service proposed regulations Friday to increase and expand the first-year depreciation deduction for qualified property from 50 to 100 percent, carrying out a provision of the Tax Cuts and Jobs Act.

The service is showing signs that it’s planning to issue regulations on the deductibility of expenses for estates and trusts in the wake of the new tax law.

President Donald Trump’s nominee for chief counsel of the Internal Revenue Service briefly advised the future president’s real estate company on a tax question several years ago.

The American Institute of CPAs has sent a set of recommendations to the Internal Revenue Service and the Treasury Department about the impact of last December’s tax code overhaul on accounting method changes for small businesses.

Many tax-exempt groups that participate in politics will no longer be required to disclose their donors to the Internal Revenue Service, the Treasury Department said.

U.S. Treasury Department rules outlining which businesses structured as S corporations, partnerships and limited liability companies can claim a 20 percent tax deduction are likely to be delayed until the end of July, according to a senior administration official.

In many cases, the profitable sale of a second home will result in a tax-favored capital gain.

Despite the uptick in interest rates, an improved economy may lead to a resurgence of interest in vacation or second homes.

Thomson Reuters Checkpoint Catalyst has published an analysis of the new Section 199A qualified business income deduction for pass-through entities ushered in by the Tax Cuts and Jobs Act.

The Internal Revenue Service is extending incentives for solar power and other clean energy sources by as long as four years.

The Internal Revenue Service and the Treasury Department are going to amend the Section 987 regulations to postpone them for another year.

The American Institute of CPAs sent a list of more than 150 recommendations for the Internal Revenue Service to add to its Priority Guidance Plan where it would like to see the IRS provide more clarity, with a particular spotlight on the Tax Cuts and Jobs Act.

A company that provides training to legal marijuana businesses and their bookkeepers has extended its reach to 26 states.

Private universities won’t be taxed on unrealized income from their billions of dollars in assets before the levy was approved.

The Internal Revenue Service said Friday it plans to issue regulations may limit the impact of a new excise tax on the endowments of private colleges and universities under the new tax law.

The agency is waiving some of the late-payment penalties pertaining to the section 965 transition tax on foreign earnings in the new tax law.

The American Institute of CPAs wants additional guidance about Bitcoin taxes.

There are many novel and unresolved accounting and tax issues in initial coin offerings that haven't received much attention.

A new notice offers details on how the Tax Cuts and Jobs Act is forcing changes in write-offs for items like job-related cars and moves.

The American Institute of CPAs has sent three recommendations to the Internal Revenue Service about modifying the IRS’s proposed regulations for inventory valuation.