The Davis Brown Tax Law Blog provides clients with updates and analysis of tax law - including asset and stock purchase/sale transactions, public and private bond financing, tax credit financing and international tax law.
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The United States Tax Court issued a ruling on August 26, 2014 requiring a taxpayer to include in income the value of an airline ticket purchased with "thank you" points. What does this mean for you? Read More »
Delaware has become the first state to enact the Uniform Fiduciary Access to Digital Assets Act. The Act allows executors, trustees, agents under a power of attorney, and guardians of incompetent individuals access to the online accounts of the individuals they are managing the affairs of. Read More »
A recent Tax Court decision and IRS announcement "clarify" the one-per-year rule for IRA rollovers in a way that effectively changes the application of the rule for taxpayers with more than one IRA. Read More »
Earlier this week I discussed the proposed Form 1023-EZ, a simpler, shorter application for tax exempt status for small organizations. As of July 1, 2014, that form and the related instructions have officially been released. Read More »
In an effort to reduce the burden on organizations applying for tax-exempt status as a 501(c)(3), the IRS has released a draft Form 1023-EZ. The final form is expected to be released later this summer. Read More »
The IRS has released what it calls the Taxpayer Bill of Rights, grouping together the rights that taxpayers have. These rights have always existed, but now the IRS has put the rights together in a clear, understandable list to be distributed to taxpayers. Read More »
If you prepare tax returns for individuals (or you are the individual paying someone to prepare you tax returns) you will want to know about the new IRS guidelines aimed at preventing abuse of the e-file system. Read More »
For many nonprofit organizations, May 15 is their tax filing deadline (the equivalent of an individual's April 15 deadline). For organizations who have not filed the last few years, the passage of that date without a filing could result in the IRS revoking the favorable tax-exempt status. Read More »
Last Friday I was lucky enough to attend a Symposium at New York Law School entitled "Combating Threats to the International Financial System: The Financial Action Task Force1."
The Financial Action Task Force (FATF) is an international task force established in 1989 which now has representatives from 36 countries, including the United States, Canada, the European Union countries, China, Japan and others. Read More »
If so, the White House is making your "tax receipt" available for the taxes you paid in 2013. Read More »
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