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Audit, Exit and Succession Planning, Tax
Joe Bruce | 1.30.2020

Are You Ready for Your Big Game?

Learn about the key steps that business owners can take when preparing their succession planning strategy.

Not-for-Profit, Tax, Tax Reform
Melanie Pantalone | 1.28.2020

Guidance Provided for Organizations Claiming Credit for UBIT Paid on Repealed Tax

On December 20, H.R. 1865 - Further Consolidated Appropriations Act, 2020 was signed into law, retroactively repealing Code §512(a)(7) of the Internal

Tax
Sean Griffin | 1.28.2020

IRS Open for Business

New year, new decade, new tax season. Opening day for 2020 filing was Monday, January 27, two calendar days earlier than last year. Individual taxpayers

Internal Revenue Service, Schneider Downs, Tax
Matthew Maloney | 1.24.2020

Fraud Detection Filters Causing Delays in Some IRS Refunds

The IRS continues to place premium importance on the prevention of identity theft and non-identify theft refund fraud, but its implementation of process

Audit, Tax
James Sayre | 1.24.2020

Simplification of Accounting for Income Taxes – ASU 2019-12

The Financial Accounting Standards Board (FASB) issued ASU 2019-12 on December 18, 2019 based on recommended changes by stakeholders as part of the FASB’s

Manufacturing, Tax, Transportation & Logistics
Jim Gilboy | 1.23.2020

Propane and Compressed Natural Gas Tax Credits Reinstated – Refund Claims Can Be Filed Beginning on February 14, 2020

The IRS has provided helpful guidance on requesting refunds for the 2018 and 2019 years for the Alternative Fuel Credit (more commonly known as Propane

Higher Education, Not-for-Profit, Schneider Downs, Tax
Sarah Piot | 1.20.2020

Tax-Exempt Organizations Receiving an Increased Number of IRS Notices

Within the past month, we’ve seen a significant number of tax-exempt organizations receive notices from the IRS for a multitude of reasons, many

Internal Revenue Service, Tax
Elena Faurie | 1.13.2020

“Parking Tax” Repealed, But Still No Guidance on How to Claim Refunds

On December 20, 2019, the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (Act) repealed Internal Revenue Code Section 512(a)(7). Implemented as

Schneider Downs, Tax
Schneider Downs Professional | 1.13.2020

Management and Performance Challenges for the IRS in 2020

Each year, the Treasury Inspector General for Tax Administration (TIGTA) evaluates IRS programs, operations, and management functions to identify the areas

Construction, Tax, Tax Reform
Schneider Downs Professional | 1.10.2020

Contractors Could Benefit from the 10% Election

As the compliance season for preparation of 2019 income tax returns kicks off, companies are likely looking for last-minute ways to lower their tax liabilities.

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