Month: October 2015

Assignment of Estimated Tax Payments in a Divorce

Since the 1970s, divorces have been much more common in the United States than they were previously. Divorces raise legal issues such as possession of assets, [...]

Statute of Limitation for Tax Carryovers

It is not unusual for a taxpayer to make an error on a return that results in a misstatement of a net operating loss (NOL) or a credit that is then carried [...]

Why new tax return due date changes are important

This past summer Congress passed, and President Barack Obama subsequently signed, legislation that modified the due dates for several common tax returns. The [...]

IRS Nets Offshore Data From 77,000 Banks, 70 Countries In FATCA Push

An astounding 77,000 banks and financial institutions—even some in Russia—have registered under FATCA—the Foreign Account Tax Compliance Act. [...]

Patient-Centered Outcomes Research Institute Fee

The Affordable Care Act imposes a fee on issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans to help fund [...]

Affordable Care Act

The Affordable Care Act imposes a fee on issuers of specified health insurance policies and plan sponsors of applicable self-insured health plans to help fund [...]

How to Figure the Tax on Early IRA Withdrawals

We have recently discussed exceptions to the usual 10% penalty tax on pre-59½ withdrawals from IRAs and qualified plans. But even if one of those exceptions [...]

No Exclusion on Sale of Rent-Controlled Apartment

Here’s an intriguing scenario that could come up if you live in New York City or some other city with a rent-control law and your dwelling is a [...]

IRS Announces 2016 Pension Plan Limitations; 401(k) Contribution Limit Remains Unchanged at $18,000 for 2016

WASHINGTON — The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other [...]

How Coverage You Offer (or Don’t Offer) May Mean an Employer Shared Responsibility Payment for Your Organization

Under the Affordable Care Act, certain employers, based on workforce size – called applicable large employers – are subject to the employer shared [...]