Articles by Ken Berry

Tax

IRS Plays It Straight in YouTube Videos

The IRS has produced several short clips on tax-related topics that may be accessed on YouTube in English, Spanish, and American Sign Language.
Tax

IRS Posts New Publications 17 and 509; Discontinues 1518 Small Business Calendar

The IRS has announced that it has posted “Pub. 17,” a long-standing guide covering a multitude of tax issues affecting individuals, for use in preparing 2013 returns.
Tax

IRS Hikes Fees for Settling Tax Debts

The IRS still is receptive to working out "deals" with taxpayers to settle their debts. But it's going to cost many of your clients more to make arrangements in 2014.
Tax

Be Nice, Not Naughty, When Filing EITC Claims

Santa Claus wasn't the only one who was supposed to make a list and check it twice this holiday season. The IRS is riding herd on tax practitioners who claim the Earned Income Tax Credit credit for clients without filing Form 8867.
Tax

IRS Cites High-Tech Changes for Tax Filing Season

Public demand is up and government funding is down. The nation’s tax collection agency says it will be emphasizing online services and automation to help weather the hectic 2014 tax filing season.
Tax

IRS Modifies Multiple Signature Process for Form 1041

As part of its regular review process, the IRS has determined that the Multiple Tax Return Listing (MTRL) process used to electronically file Form 1041, US Income Tax Return for Estates and Trusts, must be modified.
Tax

IRS Serves Up Cafeteria Plan Rules for Same-Sex Couples

The IRS promised to provide more guidance regarding the tax treatment of same-sex couples in the wake of the Supreme Court's recent ruling invalidating Section 3 of the Defense of Marriage Act (DOMA). Slowly but surely, it's starting to deliver.
Tax

IRS Issues Guidance on Roth 401(k) Rollovers

The Roth 401(k) has failed to gain much traction in the workplace. But a provision in ATRA was designed to grease the skids. Now the IRS has provided valuable guidance on in-plan Roth 401(k) rollovers in Notice 2013-74.
Tax

New Study Maps Out Travel-Related Taxes

According to a press release by the Global Business Travel Association, a business and travel meetings organization with more than 5,000 members, "taxes levied specifically on travel-related services increased the total tax bill for a traveler by 58 percent in 2013."
Tax

IRS Clarifies Tax Rules for Start-Up Costs of Terminated Partnerships

What are the tax consequences if a partnership technically terminates due to the sale or exchange of its interests? This issue is finally settled under new proposed regulations released by the IRS.
Tax

'Tis the Season for a Budget Accord

Will members of Congress be toasting each other with eggnog this year? As the holidays draw near, members of the House and Senate are reportedly wrapping up the first successful budget deal in two years.
Tax

Don't Ignore This Tax Credit for Retirement Savings

Due to an underpublicized break for retirement contributions, certain taxpayers may cut their current tax bill while stockpiling funds for the future. The IRS recently reminded taxpayers of the "retirement saver's credit."
Tax

Supreme Court Piles on Hefty Tax Shelter Penalty

In a new case decided by the US Supreme Court, the remnants of a tax shelter partially constructed by wily Texas billionaire Billy Joe McCombs – known informally as "Red" – collapsed like a house of cards.
Tax

New Final Regulations Clarify Obamacare Tax Rules

Three provisions of the ACA may have a major impact on individual taxpayers and certain businesses beginning in 2013. The IRS has just issued voluminous new final regulations clarifying some of the rules.
Tax

AICPA Proposes Quick Disaster Relief for Taxpayers

The federal tax law provides relief to victims of natural disasters, but taxpayers generally have to wait until the government works its way through a lengthy process for each specific event. Now, the AICPA has proposed a faster solution.
Tax

Baucus Proposes Series of Sweeping Tax Reforms

Max Baucus released a series of comprehensive tax reform proposals over a three-day span. Specifically, the three drafts cover a restructuring of the international tax system, tax administration and fraud prevention techniques, and cost recovery deductions.

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