ABITOS TAX

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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.

ABITOS TAX – August 9, 2019

Who can deduct car expenses on a tax return?

Business owners and self-employed persons who use their cars for business may be able to deduct car expenses, the IRS...

Other Tax News

“Summer is a season when people have fun, yet get things done,” the IRS said in a recent “Tax Tip.”

The IRS is making headway in efforts to bring its financial management systems into compliance with the Federal Financial Management Improvement Act (FFMIA).

A company car has long been a popular fringe benefit for company owners and key employees of medium-size or small businesses.

An appeals court rules that a father with a film production business couldn’t deduct his son’s tuition for a filmmaking course.

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

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.

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AbitOs Newsletters

ABITOS TAX

Stay Up-to-date

ABITOS TAX – August 9, 2019

Who can deduct car expenses on a tax return?

Other Tax News

“Summer is a season when people have fun, yet get things done,” the IRS said in a recent “Tax Tip.”

The IRS is making headway in efforts to bring its financial management systems into compliance with the Federal Financial Management Improvement Act (FFMIA).

A company car has long been a popular fringe benefit for company owners and key employees of medium-size or small businesses.

An appeals court rules that a father with a film production business couldn’t deduct his son’s tuition for a filmmaking course.

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

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.

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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