Tax Advisory

The IRS has issued proposed regulations under Code Sec. 2801 to implement a new tax on transfers of property from individuals who abandon U.S. citizenship or residency (a “covered [...]

The IRS has responded to criticism from the Treasury Inspector General for Tax Administration and the National Taxpayer Advocate, among others, that the resolution of identity theft accounts [...]

The IRS has announced that the 2016 filing deadline will shift from April 15 to April 18 because of a holiday celebrated in the District of Columbia (Emancipation Day). Taxpayers in Maine and [...]

Eleventh-hour votes in Congress in December renewed a package of tax extenders for 2014, created new savings accounts for individuals with disabilities, cut the IRS’ budget, and more. At the same [...]

Beginning January 1, 2014, the Affordable Care Act (ACA) required individuals to carry minimum essential health coverage or make a shared responsibility payment, unless exempt. Individuals will [...]

The IRS recently issued a long list of cost of living adjustments (COLAs) for various Tax Code provisions related to retirement savings. These COLAs are for the 2015 tax year and are dependent [...]

Governor Brown signed a new bill into law on September 16, 2014 that authorizes a College Access Tax Credit for approved contributions to the College Access Tax Fund (“the Fund”) in 2014 through [...]

Before the fast-approaching new year, it’s important to take some time and reflect on year-end tax planning. The weeks pass quickly and the arrival of January 1, 2015 will close the doors to some [...]

The IRS has issued updated guidance (Rev. Proc. 2014-54) that grants automatic consent to taxpayers to change their methods of accounting to comply with final “repair” regulations on dispositions [...]

Since 2009, the IRS has operated an Offshore Voluntary Disclosure Program (OVDP) for U.S. taxpayers who have failed to disclose foreign assets or report foreign income from those assets to the [...]