New Relief Procedures Allow Former Citizens to Avoid Covered Expatriate Treatment
The IRS has announced new relief procedures for certain individuals who have relinquished their U.S citizenship but want to come into compliance with their U.S. income tax and reporting obligations an...

New Tax Withholding Estimator Tool Helps Employees and Self-Employed
The IRS has reminded taxpayers that the new Tax Withholding Estimator tool includes a feature designed to make it simpler for employees who received self-employment income to accurately estimate the r...

Low-Income Housing Credit Relief Guidelines Provided for California
The IRS has expanded relief provided in Rev. Proc. 2014-49, I.R.B. 2014-37, 535, and Rev. Proc. 2014-50, I.R.B. 2014-37, 540, to owners of qualified low-income housing projects and to issuers of exemp...

IRS Encourages Taxpayers to Develop Emergency Preparedness Plan
The IRS has reminded taxpayers—whether individuals, organizations or businesses—to develop an emergency preparedness plan as the peak of hurricane season fast approaches.Taxpayers should p...

CAP Application Period Now Open
The IRS announced the opening of the application period for its 2020 Compliance Assurance Process (CAP) program. Eligible new corporate applicants for CAP must (1) have assets of $10 million or more; ...

List of Countries with U.S. Exchange of Information Agreements Updated
The IRS has added Georgia to the list of countries with which the United States has an agreement relating to the exchange of tax information. Under these agreements the United States consents to provi...

MI - Prepaid fuel rates announced
Beginning November 1, 2019, Michigan’s prepaid sales tax rate on fuel will change. From November 1, 2019 through November 30, 2019, the prepaid rate for gasoline decreases from 13.8 cents per ga...