New Law Sets Jan. 31 W-2 Filing Deadline

Protecting Americans from Tax Hikes (PATH) Act. Enacted last December, the new law means employers need to file their copies of Forms W-2  by Jan. 31. These forms also go to the Social Security Administration. The new deadline also applies to certain Forms 1099. Those reporting nonemployee

Read more

2016-17 Special Per Diem Rates

The IRS has provided the 2016-2017 special per diem rates for taxpayers to use in substantiating the amount of ordinary and necessary business expenses incurred while traveling away from home, specifically: (1) the special transportation industry meal and incidental expenses (M&IE) rates; (2) the rate for the

Read more

TIGTA Releases Report on Implementation of Identity Theft Measures for 2016 Filing Season

The Treasury Inspector General for Tax Administration (TIGTA) has released a report regarding the implementation of new tax return-related data elements based on the 2015 Security Summit, Protecting Taxpayers from Identity Theft Tax Refund Fraud. TIGTA has concluded that tax-related identity thefts adversely affect the ability of

Read more

Frequently Asked Questions Regarding Customer Due Diligence Requirements for Financial Institutions

The Financial Crimes Enforcement Network (“FinCEN”) is issuing these FAQs to assist covered financial institutions in understanding the scope of the Customer Due Diligence Requirements for Financial Institutions,” published on May 11, 2016 (the “CDD Rule”), available at https://www.gpo.gov/fdsys/pkg/FR-2016-05-11/pdf/2016-10567.pdf . These FAQs provide interpretive guidance with respect

Read more