The Tax Court ruled that a woman who received payments for undergoing the procedures necessary to donate her eggs could not exclude the payments from gross income as damages for personal injuries or physical sickness under Sec. 104(a)(2).
Taxpayer who had filed tax returns with the U.S. VIBIR was a bona fide resident of the U.S. Virgin Islands, and the statute of limitation on assessment had expired on the U.S. returns.
Volunteering for a Low Income Taxpayer Clinics pro bono panel gives a CPA a chance to provide valuable community service outside busy season and obtain additional experience in tax representation.
Understanding how IRS personnel are instructed to perform certain procedures can be valuable to practitioners. This item contains several key areas of the IRM that should be noted in tax practice.
This item provides a synopsis of the steps and procedures involved in initiating and completing a successful voluntary disclosure through the OVDP.
The IRS issued final regulations regarding the exception to the general three-year assessment limitation period for listed transactions that a taxpayer did not disclose as required under Sec. 6011.
The IRS issued final regulations regarding the exception under Sec. 164(m)(4)(c) to the $1,000,000 deduction limitation for compensation paid by publicly held corporations to covered employees.
This article explains the general exclusion under Sec. 119(a) and the other limited exclusions for meals and lodging received from an employer and addresses whether a partnership may treat a partner as an employee for purposes of the Sec. 119(a) exclusion.
As a new Congress begins a fresh look at tax reform, the AICPA intends to stay engaged in the process and advocate on issues of particular interest to CPAs. Five areas deserve strong consideration in tax reform.
The IRS provided employers with helpful guidance regarding situations where an employer changes the measurement period or method it uses for determining if a variable-hour or part-time employee has become a full-time employee.