Lawmakers Press IRS to Extend Late Fee Relief
Lawmakers are pressing the Treasury Department and the Internal Revenue Service to extend the deadline for COVID-19-related taxpayer penalty relief...
About Victoria Bogdanovich
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Victoria Bogdanovich has contributed 135 entries to our website, so far.
IRS raises per diem standard rates for business travel
Oct 11, 2022
The special per diem rates by which taxpayers may substantiate ordinary and necessary business expenses of travel away from home...
Deferred compensation deduction and the sale of a business
Oct 7, 2022
It is sometimes said “The exception makes the rule.” In the case of the Internal Revenue Code, then, perhaps the...
Permanent component of a temporary difference: ASC Topic 740 analysis
Oct 4, 2022
In its November 2021 20-year review of financial restatements, Audit Analytics reports that accounting for income taxes has been among the top...
Guaranteed payments vs. distributive share of income
Sep 30, 2022
Historically, the income tax treatment of a distributive share of partnership ordinary income did not differ significantly from that of...
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