National Taxpayer Advocate Annual Report to Congress

National Taxpayer Advocate Nina E. Olson today released her 2018 Annual Report to Congress, describing challenges the IRS is facing as a result of the recent government shutdown and recommending that Congress provide the IRS with additional multi-year funding to replace its core IT systems.

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Obtaining Quality Employee Benefit Plan Audit Services

Under Federal law, most employee benefit plans with 100 or more participants must submit audited plan financial statements when they file an annual return/report (commonly called the “Form 5500”)1 . If your employee benefit plan must have an annual audit, hiring an independent qualified public accountant is one of the plan administrator’s most important fiduciary responsibilities.

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Treasury, IRS issue final regulations, other guidance on new qualified business income deduction; Safe harbor enables many rental real estate owners to claim deduction

The Treasury Department and the Internal Revenue Service issued final regulations and three related pieces of guidance, implementing the new qualified business income (QBI) deduction (section 199A deduction).

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