Category Archives: Tax Notes

IRS Finalizes Regs Removing Requirement To File Code Sec. 83(b) Election With Return

Final regs have been issued that remove the requirement that a taxpayer making a Code Sec. 83(b) election file a copy of the election with the taxpayer’s return for the year of the Code Sec. 83 transfer. The final regs track proposed regs issued … Continue reading


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IRS Unveils Procedures For Expensing, Bonus Depreciation And More Under PATH Act

The IRS has released guidance related to Code Sec. 179 expensing, bonus depreciation and other related changes in the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). The guidance describes the procedures for filing amended returns and taking other actions.


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Self-Certification Procedure Streamlines Relief For Late Rollovers

The IRS has unveiled a new self-certification procedure for taxpayers who inadvertently miss the 60-day time limit for certain retirement plan distribution rollovers. The IRS described a number of mitigating circumstances.  


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Federal Tax Developments for 2016 Third Quarter

During the third quarter of 2016, there were many important federal tax developments. This post highlights some of the more significant developments for you. As always, contact our office if you have any questions. Tax legislation After an extended summer recess, … Continue reading


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Tax Relief And Tips For Hurricane Matthew Victims

In light of the most recent natural disasters, including Hurricane Matthew, taxpayers may find it useful to review what IRS-related assistance might be available and what is not covered by typical “tax relief.” This post presents an overview of the … Continue reading


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Major Presidential Candidates Describe Tax Policies

With election day rapidly approaching, we thought it would be good for us to provide a brief overview of the major candidates tax policies. Wolters Kluwer has prepared a 2016 Election Briefing highlighting the tax policies of the major candidates … Continue reading


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How do you know if your business is really a hobby?

Have you ever thought of turning your hobby into a money maker? With websites like ETSY it’s easy!  Making money off your after work and weekend projects sounds great – but there are a few things to consider when tax … Continue reading


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2016 Post-Filing Season Tax Update

The end of the 2016 filing season finds a long list of new developments that have taken place since January 1, 2016, especially those developments with an immediate impact on what taxpayers do next. Key items include guidance and new … Continue reading


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Increased Limit For Small Captive Insurance Companies

The eligibility rules for small property and casualty insurance companies to elect Code Sec. 831(b) status have been modified to increase the premium limit and index it to inflation, and to add certain diversification requirements. The existing $1.2 million limit on net … Continue reading


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Children…Really Can Save You Money!

Let’s face it…children are expensive! But having a bundle of joy could also bring you joy at tax season impacting your return in big ways. There are many tax breaks to consider for taxpayers with children or other dependents. These include exemptions, … Continue reading


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