Posts Tagged IRS

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…

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Ways and Means GOP Cautions Treasury Against Finalizing Proposed Debt-Equity Regulations

House Ways and Means Committee Republicans sent a letter dated October 5 to Treasury Secretary Jack Lew again voicing concerns about the Obama administration’s proposed Code Sec. 385 regulations. The letter comes on the heels of the Treasury delivering final regulations under Code Sec. 385 to the…

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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…

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Texas Disaster Relief Notice (June 22, 2016)

Disaster relief: Presidentially declared disaster area: Texas: Severe storms and flooding Victims of the severe storms and flooding that took place beginning on May 26, 2016 in parts of Texas may qualify for tax relief from the Internal Revenue Service. The President has declared that a major…

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Republican Lawmakers Urge Treasury to Revisit Debt-Equity Regulations

House Ways and Means Committee Chairman Kevin Brady, R-Tex., and Tax Policy Subcommittee Chairman Charles Boustany, R-La., sent Treasury Secretary Jack Lew a letter on June 28 expressing collective GOP concerns over proposed debt-equity regulations under Code Sec. 385.  All Republican members of the Ways and Means…

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IRS Issues Country-by-Country Reporting Regulations

The IRS has issued final regulations that require annual country-by-country (CbC) reporting by certain United States persons that are the ultimate parent entity of a multinational enterprise (MNE) group. The final regulations affect U.S. persons that are the ultimate parent entity of a multinational enterprise group that…

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Temporary Regulations Clarify Employment Tax Treatment of Partners in Partnership That Owns a Disregarded Entity

The IRS has issued temporary regulations under Code Sec. 7701 to clarify that a disregarded entity that is treated as a corporation for employment tax purposes is not treated as a corporation for purposes of employing an individual who is a partner in a partnership that owns…

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IRS Extends Filing Deadline for Taxpayers Affected by Severe Storms

On Wednesday, the IRS announced that affected taxpayers of the severe storms and flooding that took place beginning on April 17, 2016 who reside or have a business in Fayette, Grimes, Harris and Parker Counties may qualify for tax relief may qualify for tax relief from the…

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Failure to File or Pay Penalties: Eight Facts

The number of electronic filing and payment options increases every year, which helps reduce your burden and also improves the timeliness and accuracy of tax returns. When it comes to filing your tax return, however, the law provides that the IRS can assess a penalty if you…

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The Woodlands


19747 US Hwy 59 N
Suite 205
Humble, Texas 77338

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