20% Tax Deduction for Pass-Through Entities?
20% Tax Deduction for Pass-Through Entities? – JD Supra 3/27/18. IRS defines Pass-Through entities as: “an entity that passes its income, loss, deductions, or credits to its owners. The owners may be partners, shareholders, beneficiaries, or investors. It usually does
- JD Supra
Understanding the “GILTI” of the Tax Reform
Understanding the “GILTI” of the Tax Reform – JD Supra 3/27/18. The Tax Cuts and Jobs Act (TCJA) introduced several complex, hard to understand international tax provisions to the Internal Revenue Code. One of them is the tax on Global
- JD Supra
IRS Virtual Currency Amnesty? Not so Fast!
IRS Virtual Currency Amnesty? Not so Fast! – DBR 3/22/18.
- Daily Business Review
Taxes in Florida
Taxes in Florida – JD Supra 3/21/18. The Sunshine State is one of the lowest tax burden states in the US. Florida has no state individual income tax. At the state level, there is NO tax on social security benefits,
- JD Supra
IRS and Accuracy
IRS and Accuracy – JD Supra 3/21/18. According to the IRS, accuracy related penalties remain the number one most litigated tax issue. The Internal Revenue Code authorizes the IRS to impose penalties if a Taxpayer is negligent or disregards tax
- JD Supra
Changes in Alimony for Payer Spouse and Recipient Spouse under Tax Reform
Changes in Alimony for Payer Spouse and Recipient Spouse under Tax Reform – JD Supra. Since the early 1940’s, alimony payments have been tax deductible for the Payer Spouse. The recipient of the alimony (Recipient Spouse) paid the income tax
- JD Supra
Shareholders of S Corps can defer payment of Transition Tax
Shareholders of S Corps can defer payment of Transition Tax – JD Supra. The Tax Cuts and Jobs Act (TCJA) includes a provision requiring U.S. Shareholder Taxpayers that own 10% or more of a Controlled Foreign Corporation (CFC) and other
- JD Supra
Registration of Beneficial Owners: COMING TO YOU SOON?
Registration of Beneficial Owners: COMING TO YOU SOON? – JD Supra There is a new Bill drafted on November 14, 2017 called the Counter Terrorism and Illicit Finance Act (CTIFA). The Bill is currently in a committee in the Senate
- JD Supra
Taxpayers Ought to Avoid Over- and Under- Withholding of Tax
Taxpayers Ought to Avoid Over- and Under- Withholding of Tax – South Florida Legal Guide.
- South Florida Legal Guide - Supplement for the Miami Herald
No relief in sight for US Expatriates worldwide as Duplicative Reporting Requirements Continue to Burden US Expatriate Taxpayers
No relief in sight for US Expatriates worldwide as Duplicative Reporting Requirements Continue to Burden US Expatriate Taxpayers – JD Supra. The National Taxpayer Advocate Report for 2017 (Purple Book) is a summary of legislative recommendations that the Office of
- JD Supra
FBARs 101
FBARs 101 – JD Supra. US Taxpayers (which includes US Citizens, Permanent Residents, Trusts, Estates, and Domestic Entities) with an interest in foreign financial accounts that meet the reporting threshold of an aggregate value exceeding $10,000 at any time during the
- JD Supra
The IRS is on to Crypto
The IRS is on to Crypto – JD Supra. The IRS Chief of Criminal Investigation, Don Fort, recently stated: “It’s possible to use Bitcoin and other cryptocurrencies in the same fashion as foreign bank accounts to facilitate tax evasion.” The
- JD Supra
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