Tax & Business Letter: Winter 2016

This issue’s topics include:

  • Hiring for the holidays? Pay attention to your Affordable Care Act responsibilities
  • Keep your business healthy with a comprehensive annual checkup
  • Are you making the most of your vehicle expense deductions?
  • Get your finances in shape for 2017
  • Use this free tool to proactively monitor your credit
  • This tax break offers benefits and surprises

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Tax Update: July 2016

At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the McGladrey Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest federal, state, and international tax news. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

Federal

  • Plan sponsors must pay health plan fee by July 31, 2016
  • Grantor’s death can compromise S corporation’s status
  • Potential tax traps for employees who become partners
  • How research tax credits are limited for partners and S corporation shareholders
  • Proposed regulations could affect subchapter S status
  • Look for upcoming ‘hot dog stand’ guidance on corporate spin-offs
  • Controlling shareholder is liable as a transferee for corporate level tax
  • IRS addresses deferred revenue treatment in taxable stock acquisition

International Tax

  • Global survey reveals BEPS middle market impact
  • Multinationals with Indian or Singapore investments should evaluate whether to change investment structures

State and Local Tax

  • Oklahoma eliminates ‘double’ state and local tax deduction

Source: RSM US LLP
Used with permission as a member of the McGladrey Alliance
http://rsmus.com/our-insights/newsletters/tax-digest.html

Disclaimer

As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please contact us directly.

Federal Tax Weekly: January 7, 2016

This issue’s topics include:

  • IRS Announces Extension Of Some Key ACA Information Reporting Deadlines
  • New Guidance Expands Scope Of Nontaxable Identity Protection Services
  • IRS Issues 2016 Updates Of Procedures For Ruling Requests, Technical Advice, Determination Letters, User Fees, And No-Rule Areas
  • IRS Reminds Taxpayers Of How To Request Transcripts
  • IRS Provides Guidance For Plan Sponsors Before Elimination Of Cycle System

Federal_Tax_Weekly

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As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please feel free to contact us directly.

Federal Tax Weekly: December 31, 2015

This issue’s topics include:

  • Year-End Tax Legislation Impacts Extenders, ACA, IRS, And More
  • IRS Releases 2016 Standard Mileage Rates For Automobile Use; Business Rates Drop Four Cents, Medical And Moving Rates Drop 3.5 Cents
  • 2016 Filing Season To Open January 19
  • Final Regs For Type III Supporting Organizations Retain Distribution Requirements
  • IRS Clarifies Various ACA Provisions

Federal_Tax_Weekly

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As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please feel free to contact us directly.

Federal Tax Weekly: December 17, 2015

This issue’s topics include:

  • Negotiations Continue On Extenders, Omnibus, ACA Taxes
  • IRS Launches Initiative To Help Employers Keep Current With Payroll Taxes
  • IRS Reminds Applicable Large Employers Of ACA Reporting Deadlines
  • Transfer Of Stock In Family Business To Trust For Children Was Taxable Gift; No Gift Tax Return Kept Limitations Period Open
  • IRS Releases Annual List Of Cumulative Changes In Plan Qualification Requirements

Federal_Tax_Weekly

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As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please feel free to contact us directly.

Federal Tax Weekly: November 19, 2015

This issue’s topics include:

  • Agencies Finalize Regs for ACA’s Market Reforms
  • IRS Launches 2016 PTIN Renewal Season
  • IRS Makes Progress in Curbing Business Tax Identity Theft
  • Generic Drug Manufacturer Required to Capitalize Legal Fees Incurred to Obtain FDA Approval
  • IRS Reminds Taxpayers of Advantages of Health FSAs

Federal_Tax_Weekly

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As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please feel free to contact us directly.

Federal Tax Weekly: October 22, 2015

This issue’s topics include:

  • IRS Updates Guide For Safeguarding Taxpayer Data
  • IRS Proposes Updates To Administrative Appeals Process For Docketed Tax Court Cases
  • Social Security Wage Base Stays At $118,500 For 2016; “Nanny Tax” Threshold Rises To $2,000
  • IRS Reminds Employers, Insurers Of Approaching ACA Information Reporting Deadlines
  • IRS’s Implementation Of FATCA Improving, But More Work Is Needed

Federal_Tax_Weekly

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As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please feel free to contact us directly.

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