Lawmakers from both parties spent much of June debating and discussing tax reform, but without giving many details of what a comprehensive tax reform package could look like before year-end. At the same time, several bipartisan tax bills have been introduced in Congress, which could see their way to passage. Tax reform House Speaker Paul […]
San Francisco Tax Preparation / CPA: Centralized partnership audit rules finally released; impacts all partnerships
The much-anticipated regulations (REG-136118-15) implementing the new centralized partnership audit regime under the Bipartisan Budget Act of 2015 (BBA) have finally been released. The BBA regime replaces the current TEFRA (Tax Equity and Fiscal Responsibility Act of 1982) procedures beginning for 2018 tax year audits, with an earlier “opt-in” for electing partnerships. Originally issued on […]
San Francisco Tax Preparation / CPA: Employee consent requirements for employer refund claims released
The IRS recently issued the employee consent requirements that an employer need to adhere to in order to support a claim for refund of overpaid taxes under the Federal Insurance Contributions Act (FICA) and the Railroad Retirement Tax Act (RRTA). The guidance clarifies the basic requirements for both a request for employee consent and the […]
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July 28, 2017 – San Francisco, California. Safe Harbor LLP, considered one of the best CPA firms in San Francisco, is proud to announce its August, 2017, newsletter focused on tax and accounting issues. Review This!