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New Business Meals Guidance Creates Substantiation Concerns

October 4, 2018 By Stephanie Cumings Published in Tax Notes Taxpayers might not be prepared to separately document meals this year as required by new guidance on the business meals deduction, according to practitioners. Whether client business meals would still be deductible was “the big issue” coming out of the 2017 tax law’s changes to…

You Can Still Deduct a Client’s Meal on a Night Out, IRS Says

October 3, 2018 By Laura Davison and Lynnley Browning Published in Bloomberg Government The Internal Revenue Service is giving businesses a tax break they thought they had lost in the tax overhaul last year — write-offs for wining and dining clients. The agency said Wednesday companies can still deduct 50 percent of meals while entertaining clients and…

The Wayfair Ruling and What it Means for Small Business

I know it’s August and probably the last thing on your mind is the Supreme Court’s recent Wayfair decision on out-of-state sellers. However, given the long-term implications of the case and its anticipated impact on your clients and e-commerce in general, I thought you’d be interested in this recent Accounting Today piece. In the article,…

U.S. Transition Tax Regs Provide Clarity, Limited Relief

August 2, 2018 By Andre Velarde Published in Tax Notes Lengthy transition tax regs may offer practitioners some reassurance in fleshing out more details, but they don’t venture much outside the original scope of previous guidance. “With the release of the regs, [there’s] not absolute certainty as to the transition tax liability, but [it’s] pretty…

LB&I Continues to Expand its Campaign List

On July 2, 2018, the Large Business and International (LB&I) Division of the IRS released five additional Compliance Campaigns. Initially announced in January 2017, LB&I’s Compliance Campaigns are designed as an issue-based approach to address areas of tax that the Service has identified as having a high risk of compliance issues. This determination is based on…

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aNlogo-footer3@2x

Washington D.C.
Willard Office Building, Suite 300 1455 Pennsylvania Ave.
Washington, D.C. 20004
202.888.7006

© 2021 alliantNational. - All Rights Reserved.

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