Tax News

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The AbitOs team regularly collects, analyzes, and shares domestic and international tax news that we believe could interest – and impact – our clients.

Tax News – September 16, 2019

The IRS has ruled, in one case, that a widow can make an election to roll over a distribution from her deceased husband’s IRA.

The IRA’s custodian had retitled the decedent’s IRA account, pursuant to a court order naming the spouse as the sole...

Other Tax News

Employers should keep using the current version of Form I-9.

Tax-exempt organizations can generally be penalized for not reporting donor information for donations of $5,000 or more.

Individuals who relinquish their U.S. citizenship may face federal tax consequences if they fail to comply with U.S. tax law.

Do you owe estimated taxes? If so, don’t miss the Sept. 16 due date for the third installment of 2019 federal taxes due.

Income from a lawsuit or settlement can be excluded from income if it’s paid due to personal injury or sickness.

The IRS has proposed regulations on the “tax year of income” inclusion for certain accrual method taxpayers.

A recent audit reveals that the IRS’s Criminal Investigation (CI) should increase its role in enforcement activities involving identity theft.

The IRS has ruled that an IRA wasn’t an inherited IRA after the deceased IRA owner’s wife was appointed sole beneficiary by a state court.

Many temporary tax provisions have expired since the end of 2017.

Taxpayers with certain foreign financial accounts must report them on their returns.

Avoid “phishing” trips.

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