Form 1042-S and FATCA Reporting

February 24, 2015

FATCA provisions affecting March 15 deadline for Form 1042-S filers.

Tangible Property Regulations Update

February 16, 2015

New IRS rules require business owners to change tax accounting methods for 2014 tax returns!

FASB Approves Intangible Assets Accounting Alternative for Private Companies

January 08, 2015

The Financial Accounting Standards Board (FASB) has issued guidance intended to simplify private company financial reporting for identifiable intangible assets acquired via business combinations, in applying the equity method for investments, or in adopting fresh-start accounting on reorganizations.

Senate Approves 2014 Tax Extenders Bill

December 18, 2014

On December 16, 2014, the Senate passed the Tax Increase Prevention Act of 2014. The bill includes a one-year retroactive extension of the majority of the temporary tax deductions, credits and incentives through December 31, 2014 and is expected to be signed by the President this week.

IRS Releases New Tangible Property Regulations

December 04, 2014

The Internal Revenue Service (IRS) released the highly anticipated and complex final Tangible Property Regulations (TPRs). These new rules represent some of the most significant changes in tax law to affect for profit businesses since the Tax Reform Act of 1986.

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