Critical Update: Partnership Capital Account Reporting
The IRS has released the draft version of the Form 1065 instructions for 2020 partnership returns.…
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LLC Member At Risk for Personal Guarantee of Loan
IRC section 465 generally limits loss deductions to the amount for which the taxpayer is considered…
Tax Scams Continue Year-Round
Although the April filing deadline has passed, scam artists remain hard at work, and theIRS is…
Net Operating Loss (NOL) Carrybacks and Tentative Quick Refunds
Prior to the Tax Cuts and Jobs Act (TCJA), in general, an NOL could be carried…
Vehicle Depreciation Limits
When the actual expense method is used for deducting the business use of a vehicle, the…
Latest Justice Department Cases against Tax Preparers
On February 14, 2020, a federal court in Ocala Florida entered a permanent injunction against Philip…