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The IRS offers multiple payment options for taxpayers who are unable to pay their tax liabilities, including (if they meet the criteria) an “Offer in Compromise.” However, as a recent Tax Court case shows, merely claiming economic hardship is not enough to qualify for an Effective Tax Administration OIC. 

The COVID-19 pandemic continues to contribute to the economic stress of today, and many are struggling to make their rent payments. This article examines the impact of landlords applying tenant’s security deposits against rents in arrears, and how to recognize these renegotiated changes for income tax purposes.

When it comes taxpayer advocacy, there is no bigger player than the Taxpayer Advocate Service, and no bigger stage than Congress. The TAS, led by the National Taxpayer Advocate, is “your voice” at the IRS. It is an independent organization within the IRS that endeavors to ensure the fair treatment of taxpayers and promotes an understanding of their rights.

Gift cards have become a cornerstone of modern retail and corporate gifting practices. yet with the evolution of unclaimed property reporting, as well as significant regulatory changes, companies need to understand critical developments to remain in compliance.

Maximize your building improvement tax deductions with QIP. Understand Qualified Improvement Property eligibility, exclusions, and how a cost segregation study can optimize your tax strategy.

The IRS recently released their annual "Dirty Dozen" list" highlighting tax scams that taxpayers and tax preparers should be on the lookout for in 2025.

On August 11, 2020, final regulations were issued regarding the treatment of payments to charitable entities in return for consideration, finalizing earlier proposed regulations and incorporating other IRS guidance.

The research and development (“R&D”) tax credit has been one of the largest tax benefits available to eligible taxpayers. This article will provide a brief summary of tax reform – especially the CARES Act – and the implications for R&D tax credits.

House representatives have introduced two bills to tackle the tax gap. This article takes a look at the two bills as well as further focus areas for the IRS.

This article gives an overview of the federal budget reconciliation process, a special legislative process created as part of the Congressional Budget Act of 1974 and a procedure for enacting parts of a budget resolution into law, and therefore may play a role in any upcoming tax legislation.

A summary of the changes in the final regulations related to IRC Sec. 864(c)(8), clarifying the treatment of gain or loss on the sale of a foreign partner’s interest in a partnership that has a U.S. trade or business.

IRC Sec. 1202 allows holders of qualified small business stock (QSBS) to exclude between 50% to 100% of capital gains upon the sale of QSBS provided the stock meets a series of criteria.

IRS Treasury Regulation 1.6081-5 provides that the filing due date for a U.S. citizen or resident residing abroad is extended to June 15 instead of April 15.

This article outlines deadline relief provided by the IRS in light of the California wildfires.

A comparison of current tax law and the potential Biden tax plan.

Use EisnerAmper’s Year-End Tax Guide to identify opportunities to minimize tax exposure, accomplish your financial goals and preserve your family’s wealth. This guide includes all major tax law changes through March 11, 2021.

An in-depth discussion of the IRS proposed regulations under IRC Sec. 1061 that recharacterize certain net long-term capital gains of a partner that holds one or more applicable partnership interests as short-term capital gains by applying a three-year holding period instead of a one-year holding period.

A discussion of the IRS’s proposed regulations on the deductibility of meal and entertainment expenses, as related to provisions contained in the Tax Cuts and Jobs Act

Use EisnerAmper’s Year-End Tax Guide as a tool to identify opportunities to minimize tax exposure, accomplish goals, and preserve family wealth. The Guide features coverage all major tax laws in effect as of February 15, 2020.

Our Personal Tax Guide highlights tax planning ideas that may help you minimize your tax liability. Use this guide to identify issues that may impact you, then discuss them with your tax advisor.