Tax

Sikich Series on Tax Reform: IRS Update on Government Shutdown and Impact on 2018 Individual Tax Filings

By |2019-01-09T09:38:13+00:00January 9th, 2019|Audit and Tax, Tax|

IRS Opens Up on Government Shutdown and Tax Refunds The current “government shutdown,” is in its third week. Some government agencies are not impacted,

Sikich Series on Tax Reform: JCT Staff Releases Long-Awaited “Blue Book” on Tax Cuts and Jobs Act

By |2018-12-21T16:06:41+00:00December 21st, 2018|Tax|

With the Tax Cuts and Jobs Act (TCJA) being such a comprehensive bill, there is often some uncertainty over various provisions and how they are

Sikich Series on Tax Reform: Guidance on Gifting – What It Means for Your Taxes

By |2018-12-13T09:46:23+00:00December 11th, 2018|Audit and Tax, Tax|

On November 20, 2018, the IRS issued proposed regulations which further clarified the taxation of past and future gifts under the new tax law. It provides guidance on how gifts will be

Sikich Series on Tax Reform: IRS Issues Proposed Regulations on New Limits for Deducting Business Interest Expense

By |2018-11-27T19:22:06+00:00November 27th, 2018|Tax|

Among the stated principles in last year’s tax reform legislation, the “Tax Cuts and Jobs Act” (TCJA) was to promote economic growth, create new jobs,

Tax Considerations for Real Estate Investors: How Does the Qualified Business Income Deduction Apply to Real Estate Businesses?

By |2018-11-26T13:56:35+00:00November 26th, 2018|Tax|

General Qualified Business Income Deduction Under the tax reform legislation passed in December 2017, individuals with business income from pass-through entities (partnerships, LLCs, S Corporations

Sikich Series on Tax Reform: Changes NOT Included in Tax Cuts and Jobs Act Offer Opportunity – LIFO Inventory Method

By |2018-11-21T14:35:37+00:00November 21st, 2018|Manufacturing, Tax|

An “Interest-Free Loan” from the Government - Compliments of LIFO Are you a manufacturer or distributor interested in an interest-free loan from the government? If so, then

Sikich Series on Tax Reform: House Passes Three Bills as Part of “Tax Reform 2.0”

By |2018-10-03T16:21:26+00:00October 3rd, 2018|Tax|

Tax Reform 2.0 Follow-up Earlier last month, the House Ways and Means Committee introduced and passed three separate tax bills referred to as “Tax Reform 2.0.” (Please click here for our earlier

Sikich Series on Tax Reform: IRS Update on Tax Treatment for Meals and Entertainment

By |2018-10-03T15:44:20+00:00October 3rd, 2018|Tax|

Delicious Deductions – IRS Provides Guidance on Tax Treatment of Meals and Entertainment You may recall that the “Tax Cuts and Jobs Act” (TCJA) last year eliminated the deduction for entertainment expenses incurred

Sikich Series on Tax Reform: IRS Issues Guidance on New UBIT Rules for Exempt Organizations

By |2018-09-28T15:17:10+00:00September 28th, 2018|Audit and Tax, Not-for-Profit, Tax|

The Internal Revenue Service (IRS) recently released Notice 2018-67 (Notice) providing guidance for tax-exempt organizations on the treatment of Unrelated Business Income Tax (UBIT).

This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice.

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