The Tax Cuts and Jobs Act (TCJA), signed into law on December 22, 2017, delivered sweeping changes to the federal tax code. These changes brought…
In Brief The tax impact on investment income can be mitigated through the transfer of assets into retirement accounts. Not all accounts and investments are…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
The 2019 tax filing season was a missed opportunity for the CPA profession. This was the year to get ahead of the new tax laws…
Changes Affecting Connecticut Personal Income Taxes
A Refresher of Key Revisions
The Tax Cuts and Jobs Act of 2017 made significant revisions to federal personal income taxation. In response, the Connecticut General Assembly enacted legislative changes…
A New York sales tax audit can be a grueling experience. The rules are complex, and it often comes down to the records, which are…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
U.S. v. Marc Berger
A Cautionary Tale for Return Preparers
On December 14, 2018, former CPA Marc Berger was sentenced to eight months in prison after a federal jury convicted him on three counts of…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
The IRS Shutdown of SALT Deduction Workarounds
A Comparison of States
The Tax Cuts and Jobs Act of 2017 (TCJA) included a $10,000 cap on state and local tax (SALT) deductions. That cap has led New…
The IRS Whistleblower Regulations
A Hindrance to Tax Enforcement
In modernizing the tax whistleblower statute over the last 12 years, Congress has finally created a simple and enforceable entitlement to substantial compensation for tax…
ICYMI | Finding the Right Tax Software
2018 Annual Survey of New York State Practitioners
In Brief New York tax practitioners encountered old and new challenges during the 2018 tax season, most notably with planning ahead for changes enacted by…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
The 2018 Tax Software Survey reports that participating CPAs continue to use a variety of free online resources for tax research activities. Most respondents indicated…
New Jersey Enacts Sales Tax Reforms
Taxing Remote Sellers and Marketplace Facilitators
On October 5, New Jersey Governor Phil Murphy signed sales tax legislation that significantly expands who is required to collect and remit New Jersey sales…
When an individual receives a settlement or litigation award payment, the likely first question is whether the payment is taxable. While CPAs may know that…
Tax Software Survey for 2018
Tax Software Prices
The prices listed below are based on information found on the providers’ websites in September 2018. They have not been independently reviewed or verified, and…
Finding the Right Tax Software
2018 Annual Survey of New York State Practitioners
In Brief New York tax practitioners encountered old and new challenges during the 2018 tax season, most notably with planning ahead for changes enacted by…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Sales Tax Holidays
Not Always Pain Free
Even experienced tax professionals find it nearly impossible to stay on top of the plethora of sales tax holidays, which occur in some states, on…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
New York City Commercial Rent Tax
Recent Developments and the Small Business Tax Credit
CPAs need to be aware of certain changes that affect the New York City Department of Finance's (DOF) administration of its commercial rent tax (CRT…
New York State Residency Update
Tax Tribunal Provides Clarity on “Permanent Place of Abode” Definition
The determination of who is taxable as a resident for New York State and City personal income tax purposes has challenged tax practitioners for years,…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
On March 30, Governor Andrew Cuomo and New York State legislators reached an agreement on the state's 2018/19 budget, which the governor executed on April…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Moving to Another State
Financial, Legal, and Tax Issues
Americans average 11.7 moves over their lifetime, according to the U.S. Census Bureau (“Calculating Migration Data Using ACS Data,” http://bit.ly/2pRvXxn). People move because of a job,…