- Journal of Accountancy
- ITR Direct Tax
- ITR Indirect Tax
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New Schedule 1-A for tips, OT, car loans, and senior deductions published
The Schedule 1-A does not differ from the draft version issued last year, but instructions for Form 1040 provide details and examples on the four temporary deductions.
GASB proposes guidance for financial reporting model improvements
The board is accepting comments through April 27 on proposed authoritative guidance related to subsidies in Statement No. 103, Financial Reporting Model Improvements.
Senate bill targets preparers who break the law, expands IRS reforms
The AICPA supports the Taxpayer Assistance and Service Act but seeks further improvements.
AICPA asks Department of Education to list accounting as a professional degree
In a comment letter, the AICPA asks that the department’s new rule related to student loan limits either list accounting as a “professional degree program” or retain current language stating that “professional degrees may include but are not limited to” the list in a notice of proposed rulemaking.
IRS should open Trump accounts for eligible children automatically, AICPA says
In a letter to the IRS and Treasury, the AICPA said enrolling children by default “would promote equitable access, reduce procedural barriers, and strengthen the intended reach of the program.”
New Schedule 1-A for tips, OT, car loans, and senior deductions published
The Schedule 1-A does not differ from the draft version issued last year, but instructions for Form 1040 provide details and examples on the four temporary deductions.
Senate bill targets preparers who break the law, expands IRS reforms
The AICPA supports the Taxpayer Assistance and Service Act but seeks further improvements.
IRS should open Trump accounts for eligible children automatically, AICPA says
In a letter to the IRS and Treasury, the AICPA said enrolling children by default “would promote equitable access, reduce procedural barriers, and strengthen the intended reach of the program.”
GAO says tax pros helped shape IRS response to ERC issues
The report to Congress also recommends four ways for the IRS to close the chapter on the pandemic-era credit.
Anticipated applicability date for future final RMD regs. announced
The IRS said it anticipates that the future final regulations on RMDs under Sec. 401(a)(9) will apply for the distribution calendar year that begins no earlier than six months after those regulations’ appearance in the Federal Register.
When EU directives displace tax treaties: a controversial interpretation of EU law primacy
Rafael Calvo Salinero and Fernando Brioso de la Rica of Garrigues examine the implications of a Spanish Supreme Court ruling on treaty relief when the Interest and Royalties Directive exemption is denied
Taxing Times: introducing ITR’s new monthly podcast
Our first instalment features analysis of Deloitte’s landmark EMEA merger, Donald Trump’s Supreme Court tariff showdown and Venezuela’s tax evolution
TP documentation in a fragmented world: how to limit audit triggers
Multinationals face rising TP scrutiny as global rules diverge. As Daniel Moalusi argues, strong, consistent documentation is now essential to minimise audit risk and protect tax positions
A&M Tax launches dedicated pillar two, TP team in Saudi Arabia
The ever-expansive firm has once again attracted a former ‘big four’ talent to lead the new offering
Advisers clash over Venezuela’s TP evolution in post-Maduro world
Meanwhile, one expert highlights the importance of separating Venezuela’s tax authority from direct political control after ‘lost decades and isolation’