Federal Tax Articles

Federal Tax Day for Individuals Shifts to May 17

The extended federal due date provides timing and payment relief to individuals. Payment of the 2020 tax-due balance is May 17. This extension does not apply to 2021 estimated tax payments, which are required by April 15, 2021. The IRS announced that the federal...

Final regulations clarify entertainment and meal deductions

IRS clarifies what can be expensed under current tax law. By Davinia Lyon The IRS issued final regs implementing significant changes in the Tax Cuts and Jobs Act (TCJA) regarding deductions for travel and entertainment expenses (Sec. 274). The release finalizes...

Register now for TaxOps CPE at RMAC Conference

Join us at the RMAC Conference for two full days of speakers and content, including CPE sessions with Davinia Lyon, Judy Vorndran and Stacey Roberts. This year's RMAC Conference is re-imagined with safety and convenience in mind. 16 hours of CPE from the comfort of...

California NOL suspension and business tax credit limitation

Corporate, flow-through, and personal income taxpayers may be affected by changes to NOLs and credit limitations in California, specifically to cash flow and, for corporations, accounting for income taxes (ASC 740). By Davinia Lyon and Judy Vorndran In a mandate sure...