Taxes September 10, 2024
The Tax Blotter – Sept 10, 2024
The Tax Blotter is a collection of briefs of recent tax legislation and tax court decisions.
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Taxes August 29, 2024
Tax Court Says S Corporation Owner Owes Tax on Phantom Income
The Tax Court determined that the law still required the S corp filer to report his proportionate share of the S corp income for the tax years in questions.
Taxes August 21, 2024
Tax Court Rules on Losses from Rental Activities
The tax court judge figured out that the husband would have had to work 40 hours at his regular job and 48 hours a week on the real estate activity.
Taxes August 8, 2024
The Tax Blotter – August 2024
The Tax Blotter is a round-up of recent tax legislation and rulings.
Taxes May 24, 2024
Tax Court: No Tax Exemption for This Legal Settlement
The taxpayer failed to report any of the $700,000 payment as taxable income on his return. So the IRS stepped in and the case ended up in the Tax Court.
Payroll April 22, 2024
Payroll Tax News Updates: April 2024
Under the trust fund recovery penalty (TFRP), a “responsible person” may be held personally liable for the full amount of an employer’s unpaid employment taxes.
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Taxes March 28, 2024
Dividing a 401(k) in Divorce
Note that a QDRO may be used for qualified plans, like 401(k) or pension plans, but this option isn’t available for IRAs. IRAs are subject to other rules.
Taxes March 18, 2024
Tax Law: These TCJA Provisions Will Expire Soon
The nation’s lawmakers may allow these provisions to expire as written into the TCJA, extend them indefinitely, for a period of time or even permanently, or otherwise modify them.
Taxes March 8, 2024
The Tax Blotter – March 6, 2024
The Tax Blotter is a summary of recent tax news, rulings and legislation.
Taxes February 19, 2024
The Tax Blotter – Feb. 2024
The Tax Blotter is a round-up of recent tax issues and Tax Court rulings.
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Taxes February 1, 2024
Tax Court Says Group Overshot on the Augusta Rule
If the rental period lasts 14 days or less—in other words no more than two weeks—you don’t have to report any of the taxable income to the IRS On the other side of the coin, the rental expenses aren’t tax-deductible, either.
Income Tax January 15, 2024
The Tax Blotter – Jan. 2024
The Tax Blotter is a round-up of brief news items relating to tax preparation, policy and legislation.
Contributors
Amy Vetter
CPA, CITP, CGMA
Becky Livingston
Accounting & AI Marketing Consultant
Brian Tankersley
CPA, CITP, CGMA
Garrett Wagner
CPA, CITP, CEO and Founder of C3 Evolution Group
Jim Boomer
CPA, CITP, CEO
Ken Berry, JD
CPA Practice Advisor Tax Correspondent
Kristy Short, Ed.D.
Accounting Content Specialist
Mary Girsch-Bock
Contributing Writer
Randy Johnston
MCS, MCP
Roman Kepczyk
CPA, CITP, CGMA
