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Year: 2019

Recent Tax Law Updates: October 2019

IRS Updates on Treatment of Virtual CurrencyWhile continuing to treat virtual currency as a capital asset, in Notice 2014-21, 2014-16 IRB 938, the IRS speaks to its equivalent value in real currency and its treatment. On October 9, 2019, the IRS issued Rev Rul...

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Recent Tax Law Updates: September 2019

Repeated Bankruptcies Extend Length Of Non-Dischargability. A bankruptcy court in Oklahoma found that the three-year look-back period during which tax debts are not dischargeable extended for the times a taxpayer filed previous bankruptcies. (Nachimson, (Bktcy Ct OK...

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Recent Tax Law Updates: August 2019

IRS Enforces Stock-Based Compensation Rule. The Large Business and International Division formally withdrew its Cost-Sharing Arrangement Stock-Based Compensation Directive dated January 12, 2018 and provided new instructions for examiners on transfer pricing issue...

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Recent Tax Law Updates: July 2019

New IRS Commissioner Promises Increased Enforcement There is a new sheriff in town, and at the American Institute of CPAs June 10 conference in Las Vegas, Commissioner Charles Rettig announced that there will be a much greater emphasis on enforcement. He also made it...

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How likely are you to be audited?

You often hear of people being audited, but how likely are you to actually receive an audit notice from the Internal Revenue Service (IRS)? According to a recent report, your chances are around one in 160.After the recent 35-day government shutdown, the IRS is facing...

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