The Tax Professionals Blog

IRS Issues COD Audit Technique Guide

Posted by Lee Reams Sr. on

The IRS Issued an audit technique guide, Real Estate Foreclosures and Cancellation of Debt.  The guide is available at:http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Real-Estate-Property-Foreclosure-and-Cancellation-of-Debt-ATG

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Do You Want To Be Heard About Tax Simplification? Now Is Your Chance!

Posted by Lee Reams II on

Orin Hatch, R-Utah and Ron Wyden, D-Oregon, both leaders of the Senate Finance Committee are soliciting ideas from stakeholders on how to best overhaul the tax code to make it simpler, fairer, and more efficient.

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Republican Bill Would Replace Obamacare With the Care Act

Posted by Rick Kolstad on

The Republican bill would eliminate among other tax provisions:

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More Relief - Health Reimbursement Plans

Posted by Rick Kolstad on

The IRS, in Notice 2015-17, provided limited relief from the draconian $100 per day per participant penalties under IRC §4980D for health insurance reimbursement plans that had been addressed in Notice 2013-54.

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Oh What a Relief It Is For Form 3115!

Posted by Rick Kolstad on

At the suggestion of the AICPA and to ease the administrative burden faced by small business taxpayers in applying the final tangible property regulations beginning in 2014, the IRS, in Rev Proc 2015-20 has provided relief for small businesses in complying with the tangible property regulations that allows the new regulations to be applied prospectively rather than retroactively.

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