The guidance says some deductions of estates and non-grantor trusts are not considered to be miscellaneous itemized deductions.
IRS proposes guidance on itemized deductions for estates and trusts
House Speaker Nancy Pelosi dismissed President Donald Trump’s call for a payroll tax cut and changes in the capital gains tax, saying it wouldn’t help millions of unemployed workers and others struggling in an economy shut down by the pandemic.
The service is looking for tax preparers to help the elderly and low-income taxpayers.
Gave at the office; mortgage and mining; rotten to the corps; and other highlights of recent tax cases.
The American Institute of CPAs’ Professional Ethics Executive Committee has decided to postpone the effective dates for three of its ethics interpretations in its Code of Professional Conduct for one year, due to the impact of the novel coronavirus pandemic.
AICPA delays effective dates of ethics rules due to coronavirus
It is no secret that many mergers and practice transfers never came to life because of fear.
The Internal Revenue Service said individuals who got a $1,200 stimulus payment intended for someone who’s deceased or incarcerated should return the money but left open the question of how the agency would enforce that.
IRS tells family members of deceased to return stimulus money
The coronavirus pandemic will leave indelible marks on accounting.
Gene Marks predicts we’ll emerge from the pandemic sooner that most people expect, with less damage.
Your small-biz clients will be just fine — and so will your firm
The Internal Revenue Service has posted information on how people who weren’t supposed to receive their economic impact payments for the novel coronavirus pandemic should return the money.
IRS explains how ineligible taxpayers should return their coronavirus stimulus payments
