taxation

Tax

UBIT: When a Nonprofit Is Profitable

When people think of a nonprofit organization they often automatically assume it is tax exempt, but that is not always the case. Certain exempt nonprofits are liable for tax if they have unrelated business taxable income.
AccountingWEB Life

AccountingWEB's 2012 Most-Read Articles

We thought it might be fun to share with you a list of our top ten, most-read articles of 2012. Overall, it looks like technology topics are of the most interest to you and your colleagues, followed by career and tax-related stories. Enjoy!
Tax

IRS Won't Concede on 'Wandry Clauses'

Earlier in the year, the Tax Court allowed a taxpayer to use a formula clause to determine the value of a business interest for gift tax purposes (TC Memo 2012-88). But the IRS refuses to knuckle under to the court.
Tax

Business Leaders Prepared to Give Up Tax Incentives

Business leaders are coming to the realization that if they want to see meaningful US corporate tax reform, they will need to give up some tax preferences in exchange for a lower statutory corporate tax rate, according to a survey by KPMG LLP.
Election 2012

Obama and Romney Slug It Out Over Taxes

Democratic incumbent President Barack Obama and Republican challenger Mitt Romney have sparred over taxes. Now that the gloves are finally off, both nominees have come out swinging full force.
Tax

IRS: Proposed Regulations and Policy Change

The IRS has proposed regulations which would change the way costs are allocated on properties a taxpayer buys for resale purposes. In addition, the IRS announced a policy change in Rev. Proc. 2012-39.
A&A

Health Care Law Decision - Uncertainty for Employers

Now that the U.S. Supreme Court has answered the biggest question related to President Obama's health care law, employers now face the uncertainties of implementing it.
A&A

CPAs Examine Impact of Health Care Decision

The Supreme Court ruled to uphold much of the PPACA, which puts in motion the expansion of the health care system, including the individual mandate requiring all U.S. citizens to maintain minimum health care coverage or pay a penalty.

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