Tax News

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The AbitOs team regularly collects, analyzes, and shares domestic and international tax news that we believe could interest – and impact – our clients.

Tax News – August 6, 2019

The IRS’s Large Business and International division (LB&I) has announced six new compliance campaigns.

The compliance campaigns target the S corporation built-in gains tax, post offshore voluntary disclosure compliance, expatriates, high-income nonfilers, erroneous refundable...

Other Tax News

The IRS just released guidance that allows a taxpayer to make or revoke bonus depreciation elections that were potentially affected by tax law changes.

Managing the amount of tax you’ll owe for this year may require thinking about tax issues now, long before it’s time to file.

An offer in compromise (OIC) is an agreement between a taxpayer and the IRS to settle a tax debt for less than the amount owed.

The Dept. of Labor (DOL) has just issued regulations that will make it easier for small businesses to provide retirement savings plans to their workers.

Spouses filing a joint federal income tax return generally are jointly liable for the tax due.

The U.S. direct investment abroad position decreased $62.3 billion, to $5.95 trillion at the end of 2018 from $6.01 trillion at the end of 2017.

The U.S. Tax Court has found that a taxpayer’s poker playing wasn’t an activity engaged in for profit.

Taxpayers generally don’t think about their tax filing status until it’s time to file.

Eligible taxpayers who live and work outside the U.S. may be able to exclude foreign-earned income from their gross income.

A new tax bill passed in the U.S. House of Representatives.

The IRS has announced six new compliance campaigns.

Stay in Touch

AbitOs Newsletters

Tax News

Stay Up-to-date

Tax News – August 6, 2019

The IRS’s Large Business and International division (LB&I) has announced six new compliance campaigns.

Other Tax News

The IRS just released guidance that allows a taxpayer to make or revoke bonus depreciation elections that were potentially affected by tax law changes.

Managing the amount of tax you’ll owe for this year may require thinking about tax issues now, long before it’s time to file.

An offer in compromise (OIC) is an agreement between a taxpayer and the IRS to settle a tax debt for less than the amount owed.

The Dept. of Labor (DOL) has just issued regulations that will make it easier for small businesses to provide retirement savings plans to their workers.

Spouses filing a joint federal income tax return generally are jointly liable for the tax due.

The U.S. direct investment abroad position decreased $62.3 billion, to $5.95 trillion at the end of 2018 from $6.01 trillion at the end of 2017.

The U.S. Tax Court has found that a taxpayer’s poker playing wasn’t an activity engaged in for profit.

Taxpayers generally don’t think about their tax filing status until it’s time to file.

Eligible taxpayers who live and work outside the U.S. may be able to exclude foreign-earned income from their gross income.

A new tax bill passed in the U.S. House of Representatives.

The IRS has announced six new compliance campaigns.

Stay in Touch

AbitOs Newsletters

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FATCA deadlines extended because of COVID-19

COVID-19 relief available to some nonresident aliens, foreign corporations

2020 FBAR penalties (adjusted for inflation)

Final regs: Transfers to partnerships with related foreign partners

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