199A Trade or Business Safe Harbor – Rental Real Estate

199A Trade or Business Safe Harbor – Rental Real Estate

Notice 2019-07 This notice contains a proposed revenue procedure that provides for a safe harbor under which a rental real estate enterprise will be treated as a trade or business solely for purposes of section 199A of the Internal Revenue Code (the Code) and §§ 1.199A-1 through

Read more

IRS, Security Summit Partners Urge Caution During National Tax Security Awareness Week

IRS, Security Summit Partners Urge Caution During National Tax Security Awareness Week

During “National Tax Security Awareness Week,” which ran from December 3 to December 7, the IRS and its Security Summit partners (state tax agencies and the private-sector tax community) issued a series of reminders that urged taxpayers and tax practitioners to take steps to protect their data.

Read more

Estimated Tax Penalty WAIVED for Q4 2018 Payments due Jan 15th 2019

Estimated Tax Penalty WAIVED for Q4 2018 Payments due Jan 15th 2019

On January 16th the IRS released Notice 2019-11 to provide a waiver for the underpayment penalty related to the fourth quarter estimated tax payments due January 15th 2019 for certain individuals who would otherwise be required to make. Taxpayers should complete Part I of Form 2210 and the

Read more

Administration Broadens Short-Term Health Insurance Exemption from Affordable Care Act Consumer Protections

The Departments Health and Human Services, Labor and the Treasury have amended the definition of short-term, limited-duration individual health insurance coverage by allowing such coverage to last up to 364 days rather than up to 3 months. The amendments apply 60 days after August 3, 2018, the

Read more

Brady Unveils Tax Reform 2.0 Framework

The House’s top tax writer has unveiled Republicans’ “Tax Reform 2.0” framework. The framework outlines three key focus areas: making permanent the individual and small business tax cuts enacted under the Tax Cuts and Jobs Act (TCJA); promoting family savings by streamlining retirement savings accounts and creating

Read more