How to Get Equitable Relief from the IRS?
Understand the IRS’s fairness-based review for granting equitable relief and resolving a joint tax liability that isn’t your responsibility.
Investment and Financial Markets
Section 356: Taxing Boot in Corporate Reorganizations
Explore the tax consequences for shareholders receiving cash or other property in a corporate reorganization under IRC Section 356 and its effect on gain.
What Are the Disclosure Requirements for a Business?
Learn how businesses meet transparency obligations by reporting financial health and major events, from data collection to final submission.
FAS 112: Accounting for Postemployment Benefits
Learn how ASC 712 (formerly FAS 112) provides the accounting framework for accruing the cost of benefits for former or inactive employees.
How to Complete Form 2848: Line-by-Line Instructions
Understand the procedural steps required to grant a power of attorney to a tax professional, ensuring your Form 2848 is filed correctly.
What Is the Gift Tax Education Exclusion for Tuition?
Learn how direct tuition payments to a school are excluded from gift tax and how this benefit functions independently of the annual gift exclusion.
Tax Relief Under the Disaster Reforestation Act
Explore the financial recovery process for timber owners, detailing the tax treatment for casualty losses and the subsequent costs of reforestation.
Rule 202: Compliance With Professional Standards
Delve into AICPA Rule 202, which establishes adherence to professional standards as a fundamental principle of ethical conduct for members.
Do You Have to Pay Taxes on CD Interest?
Understand the tax rules for Certificates of Deposit. Interest is typically taxed as ordinary income annually, even before your CD matures.
Section 267A: Limitation on Hybrid Mismatch Deductions
Learn how Section 267A neutralizes tax benefits from inconsistent cross-border treatment and the analysis required to substantiate U.S. tax deductions.
When Do Capital Gains, Depreciation Recapture & Transfer Taxes Apply?
The tax implications of an asset sale depend on specific triggers. Learn how profit, prior deductions, and the transfer itself dictate your obligations.
What Are the Pros of Paper Filing Taxes?
Explore the practical advantages of filing taxes by mail. This traditional method offers a straightforward approach for taxpayers seeking an alternative.
Who Can Contribute to a Traditional IRA?
Explore the criteria that determine who can contribute to a Traditional IRA. This overview clarifies how personal and financial circumstances shape your eligibility.
What Does the CARES Act Allow for Charitable Contributions?
The CARES Act temporarily altered tax deduction rules to incentivize charitable giving, creating new opportunities for both individual and corporate donors.
How to File an Idaho Partnership Return
Learn the process for an Idaho partnership return, from determining your filing obligation to calculating pass-through withholding and submitting the final forms.
Section 421: Tax Treatment for Employee Stock Options
Learn how Section 421 governs employee stock option tax treatment, creating different financial outcomes based on how and when the acquired shares are sold.
How a PTO Cash In Works and How It’s Taxed
Understand the financial mechanics of a PTO cash-out, from determining its gross value to the tax rules that impact your final payment.
Bonus Depreciation Sunset: What Businesses Should Know
Understand how the gradual phase-out of bonus depreciation impacts your ability to deduct asset costs and what it means for your business’s tax strategy.
What Is the Inherited Annuity 10-Year Rule?
Understanding the inherited annuity 10-year rule is key. Learn how your beneficiary type dictates your distribution options and impacts your tax planning.
What Are the Current Dividend Tax Rates?
Understand the tax implications of your dividend income. The rate you pay depends on key factors like your income level and the dividend’s classification.