This series of frequently asked questions (FAQs) provides answers to questions we are hearing from our members about the centralized partnership audit regime under the Bipartisan Budget Act of 2015 (BBA). ALERT: The IRS announced in Rev. Proc. 2020-23 that BBA partnerships, which are normally prohibited from filing an amended
The U.S. Supreme Court announced in March 2020 that it will hear a case that challenges the constitutionality of the individual mandate under the Patient Protection and Affordable Care Act. The original case, Texas v. United States, is now docketed in the Supreme Court as California v. Texas. Get insights on the
This series of frequently asked questions (FAQs) provide guidelines for tax practitioners to consider when preparing a written document retention policy for their firm. Additional guidance is provided to help practitioners advise their clients on taxpayer record retention. Document retention policies for firm operations and client records Should firms maintain
Businesses and individuals need to be aware that a large number of IRS tax law changes are going into effect this year. Many of them were created by the Protecting Americans from Tax Hikes (Path) Act of 2015, although there was legislation passed in 2015 and 2014 that also contributed a
What exactly is a tax return extension? Your federal, state and local tax returns are due on April 15th of each year provided that April 15th does not fall on a weekend or holiday. Tax return extensions are available but not suggested. If you are one of the 11 million
AberCPA is an expert firm that assists hundreds of New York City and surrounding area restaurants with tax preparation and tax saving strategies. We also want our website to be a vital asset of information for all restaurant and bar owners. We came upon the above infographic resource and wanted
By Scott Aber If you are feeling as though it is too late for you to file your 2012 Local, State or Federal tax returns, you are not alone. But, fortunately, you are also not correct. Tax returns are due on Monday April 15, 2013 so you still have three
