As part of funding legislation for the federal government, President Trump signed a law of Setting Every Community Up for Retirement Enhancement (SECURE) Act on December 20, 2019. The law […]
Tactics for Stretching Retirement Assets under the SECURE Act Read More »
IRS introduced many relief measures for taxpayers to help them through the economic disruption caused by COVID-19. These measures includes legislative and administrative changes to provide many short term and
COVID-19 pandemic prompts many tax changes Read More »
In September, the IRS announced that they would mail time-limited settlement offers to certain taxpayers under audit who had participated in abusive micro captive insurance transactions (IRS News Release IR-2019-157).
IRS offers to settle microcaptive insurance cases Read More »
The look and feel of iconic tax return form, the Form 1040 has been virtually recognized by everyone for many years. Although the form is complex yet consistent. With the
Tax Reform for US Expats Read More »
While submitting the shareholder’s tax return (or, if applicable, partnership or exempt organization return), fill the Form 8621 as per instructions mentioned in it, attach it with return and file
Requirement to File Informational Return Form 8621 Even If Below Filing Thresholds Read More »
The IRS issued a revenue procedure to help tax payers and relevant passthrough entities (RPEs) that provides a safe harbor. As per procedure a “rental real estate enterprise” will be
QBI deduction for rental real estate businesses Read More »
