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Taxation

Home /Taxation
Featured

Recent Developments in FBAR Jurisprudence

By  Usman Mohammad, JD and Michael Gelb

February 2022 0

Failing to report foreign bank accounts on a Report of Foreign Bank and Financial Accounts (FBAR) form can carry severe financial consequences. The civil penalty…

Featured

Divorce and Tax Considerations

By  Ryan C. Sheppard, CPA, CFF

January 2022 0

Since January 1, 2019, the tax rules for divorce instruments fall under dramatically new rules included in the Tax Cuts and Jobs Act (TCJA) of…

Featured

An Introduction to Structured Installment Sales

Avoiding Capital Gains Taxes on Real Estate Transactions or Business Buyouts

By  Dan Finn, CPCU, MSSC, RICP

December 2021 0

When the right set of circumstances presents itself, there may be no simpler way to defer, reduce, or completely eliminate long-term capital gains taxes when…

Featured

Material Participation as Significant Participation Activity

Tax Court Ruling Highlights Importance of Grouping Election

By  Robert S. Barnett, JD, CPA

December 2021 0

A recent case serves as a convenient reminder for 2020 tax return elections. In Gurpreet S. Padda, et al. v. Comm'r (TCM 2020-154), a physician met…

Featured

Did the Tax Cuts and Jobs Act Really Lower Corporate Taxes?

Preliminary Evidence from the S&P 500 and Apple Inc.

By  Gene J. Kovacs, PhD and Saeed J. Roohani, PhD

December 2021 0

In Brief The Tax Cuts and Jobs Act (TCJA) of 2017 modified several aspects of corporate income tax rules, including a key change to the…

Featured

Year-End Tax Planning for Individuals and Businesses

By  Sidney Kess, JD, LLM, CPA

December 2021 0

There is still time in the final quarter of 2021 for tax professionals to advise taxpayers to take actions that can favorably impact tax liability…

Featured

Transitioning to the Updated Required Minimum Distribution Tables in 2022

By  David M. Barral, CPA/PFS, CFP

December 2021 0

The rules for required minimum distributions (RMD) can be challenging to navigate. New regulations that update the life expectancy tables to be used add another…

Featured

An Overview of Current Developments in D.C., Florida, and Maryland

By  Corey L. Rosenthal, JD and Arvinder Kaur, CPA

December 2021 0

CPAs need to be aware of current developments in key states in order to properly advise companies doing business in multiple jurisdictions. This article will…

Featured

A Survey of Tax Analytics and Automation Technologies

By  Kathy Krawczyk, PhD, Y.S. Al Chen, PhD, CPA, CISA, CGMA, CMA, CFM and Jennie Dirienzo, CPA

December 2021 0

In Brief Tax departments are always looking for ways to streamline their processes and procedures, and provide greater value-added services to management. Tax analytics and…

Featured

How Businesses Can Claim COVID-19 Relief before Time Runs Out

By  Eric Hylton and Steven Miller, JD, MST

December 2021 0

The COVID-19 pandemic has wreaked havoc on the United States, not just in terms of lives lost, but also in terms of the country's ability…

Featured

“Cohan Rule” Estimates

A Useful Tool if Properly Used

By  John K. Cook, JD, LLM and Sarah Webber, JD, LLM, CPA

December 2021 0

In Brief If a taxpayer lacks documentation to support items on a tax return, preparers may use estimates, following an approach long known as the…

Featured

Tax Software in the Ongoing Pandemic Environment

20th Anniversary/2021 Annual Survey of New York State Practitioners

By  Susan B. Anders, PhD, CPA/CGMA and Carol M. Fischer, PhD, CPA, CGMA

December 2021 0

In Brief CPAs continued to deal with a global pandemic during the 2021 tax season, requiring many tax practitioners to work from home, often while…

Featured

California Approves SALT Cap Workaround

An Overview of the Key Provisions

By  Corey L. Rosenthal, JD and Krista Schipp, CPA

November 2021 0

California Governor Gavin Newsom recently signed Assembly Bill 150 (AB150), which created a workaround for the current $10,000 limitation on the deduction for state and…

Featured

The IRS’s Big Plans for Big Data

By  Christopher M. Ferguson, JD

October 2021 0

Faced with shrinking budgets and resources, for more than a decade the IRS has been forced to do more with less. It has responded by…

Featured

ICYMI | Tax Implications of COVID-19 Telecommuting and Beyond

By  Mark Klein, JD, Joseph Endres, JD and Katherine Piazza, JD

October 2021 0

The fallout from the coronavirus (COVID-19) pandemic continues to have a significant impact on the way employers conduct business, with many employees working on a…

Uncategorized

ICYMI | Navigating the IRS’s Self-Dealing Rules for Private Foundations

By  Usman Mohammad, JD and Emma Westerhof

September 2021 0

The Donald J. Trump Foundation was undone by alleged acts of self-dealing involving its namesake, Donald J. Trump, who also allegedly used the foundation to…

Featured

The State of the Inheritance Tax in New Jersey

Questions about the Decision in Van Riper

By  James Lynch, CPA

August 2021 0

Recently, New Jersey repealed its estate tax for residents passing away after December 31, 2017 [New Jersey Statutes Annotated (N.J.S.A.) 54:38-1 (c)(4)]. However, the New…

Featured

New York State’s New Pass-Through Entity Tax

An Overview of the Key Provisions

By  Corey L. Rosenthal, JD and Arvinder Kaur, CPA

August 2021 0

When the Tax Cuts and Jobs Act (TCJA) was enacted, it created, for the 2018 through 2025 tax years, an itemized deduction “cap” that limited…

Featured

The Taxation of Nonfungible Token Transactions

Beware the Implications of Intangible Investments

By  Lisa M. Blum, JD, LLM, CPA and Benjamin P. Foster, CPA, CMA

August 2021 0

Most CPAs are likely familiar with cryptocurrencies such as Bitcoin and Ethereum. These currencies are considered fungible, because they can be directly exchanged for other…

Featured

Basic Tax Reporting for Decedents and Estates

By  Wilda Lin, JD, LLM

August 2021 0

The crossroads of death and taxes can be baffling for many individuals. The executor or administrator (herein, the “fiduciary”) may be confronted with a bewildering…

Featured

ICYMI | Tax Changes for Businesses in the Consolidated Appropriations Act of 2021

By  Sidney Kess, JD, LLM, CPA, Joseph Buble, CPA and James R. Grimaldi, CPA

July 2021 0

The Consolidated Appropriations Act of 2021 (CAA) (P.L. 116-260) funds the government for its fiscal year ending September 30, 2021, and makes major tax changes…

Featured

ICYMI | Tax Changes for Individuals in the Consolidated Appropriations Act of 2021

By  Sidney Kess, JD, LLM, CPA, Joseph Buble, CPA and James R. Grimaldi, CPA

July 2021 0

The Consolidated Appropriations Act of 2021 (CAA) (H.R. 133), which has become notorious for its length of 5,593 pages, funds the government for its fiscal…

Featured

Tax Implications of COVID-19 Telecommuting and Beyond

By  Mark Klein, JD, Joseph Endres, JD and Katherine Piazza, JD

July 2021 0

The fallout from the coronavirus (COVID-19) pandemic continues to have a significant impact on the way employers conduct business, with many employees working on a…

Featured

ICYMI | What to Do About Estate Planning Now

Contemplating the Impact of Proposed Legislation

By  Martin Shenkman, JD, CPA/PFS, AEP

July 2021 0

The past year was a wild one for estate planning, as high-net-worth individuals raced to complete planning before the end of the year, not knowing…

Featured

ICYMI | First Look at the Tax Provisions of the New York State 2021/2022 Budget Act

By  Mark H. Levin, CPA, MST, Corey L. Rosenthal, JD and Peter Rabinowitz, JD

July 2021 0

On April 7, 2021, the New York State Assembly passed the comprehensive New York State 2021/2022 Budget Act, which Governor Andrew Cuomo subsequently signed it…

Featured

What to Do About Estate Planning Now

Contemplating the Impact of Proposed Legislation

By  Martin Shenkman, JD, CPA/PFS, AEP

June 2021 0

The past year was a wild one for estate planning, as high-net-worth individuals raced to complete planning before the end of the year, not knowing…

Uncategorized

Navigating the IRS’s Self-Dealing Rules for Private Foundations

By  Usman Mohammad, JD and Emma Westerhof

June 2021 0

The Donald J. Trump Foundation was undone by alleged acts of self-dealing involving its namesake, Donald J. Trump, who also allegedly used the foundation to…

Featured

Tax Changes for Businesses in the American Rescue Plan Act

By  Sidney Kess, JD, LLM, CPA, Joseph Buble, CPA and James R. Grimaldi, CPA

June 2021 0

The $1.9 trillion American Rescue Plan Act (ARPA) of 2021 (PL 117-2) was signed into law on March 11, 2021. The wide-ranging law contains many…

Featured

Tax Changes for Individuals in the American Rescue Plan Act

By  Sidney Kess, JD, LLM, CPA, Joseph Buble, CPA and James R. Grimaldi, CPA

June 2021 0

The $1.9 trillion American Rescue Plan Act (ARPA) of 2021 (PL 117-2) was signed into law on March 11, 2021. The wide-ranging law contains many…

Featured

First Look at the Tax Provisions of the New York State 2021/2022 Budget Act

By  Mark H. Levin, CPA, MST, Corey L. Rosenthal, JD and Peter Rabinowitz, JD

May 2021 0

On April 7, 2021, the New York State Assembly passed the comprehensive New York State 2021/2022 Budget Act, which Governor Andrew Cuomo subsequently signed it…

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Our Latest Content

  • The ABCs of Worker (Mis-)Classification March 2023
  • Regulators and Standard Setters: Updates and Panel Discussion March 2023
  • Adapting to Constant Change March 2023
  • CPAJ News Briefs: FASB, PCAOB, IASB March 2023
  • Critical Audit Matter Reporting March 2023












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