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Are You Ready for the New IRS Partnership Audit Rules?

A new partnership audit regime goes into effect for the 2018 tax year that assesses incremental taxes, penalties and interest at the partnership level. However, many partnerships can elect to follow alternative rules. Here's guidance on what's changing, including the importance of choosing a partnership representative to handle audit matters. We've also got good news for partnerships that missed the new tax filing deadline for the 2016 tax year. Read More...

IRS Guidance on Leave-Sharing Programs to Help Hurricane Harvey Victims

Employers can set up leave-based donation programs to provide assistance to Hurricane Harvey victims. The IRS recently announced that employees won't be taxed when they forgo vacation, sick, or personal leave in exchange for employer contributions of amounts to charitable organizations providing relief. Employers can also deduct the amounts as business expenses. Read More...