Please be aware there are some new deadlines with the upcoming 2017 filing season:

January 31, 2017

W-2s & 1099-MISC (non-employee compensation - box 7)

These forms were always due to the recipient by January 31st each year, but now they are required to be summited to the IRS and Social Security Administration by January 31st as well. The government is mandating this in order to improve their efforts in combatting fraud.

March 15, 2017

1065 - Partnership Tax Returns

1120S - S Corporation Tax Returns

April 15, 2017

1040 - Individual Income Tax Returns

1041 - Estate & Trust Tax Returns

1120 - C Corporation Tax Returns

May 15, 2017

990 - Tax Exempt Organization Tax Returns

July 31, 2017

5500 - Employee Benefit Plan Tax Returns

Tax Alerts
Tax Briefing(s)

The IRS has released long-awaited guidance on new Code Sec. 199A, commonly known as the "pass-through deduction" or the "qualified business income deduction." Taxpayers can rely on the proposed regulations and a proposed revenue procedure until they are issued as final.

The IRS’s proposed pass-through deduction regulations are generating mixed reactions on Capitol Hill. The 184-page proposed regulations, REG-107892-18, aim to clarify certain complexities of the new, yet temporary, Code Sec. 199A deduction of up to 20 percent of income for pass-through entities. The new deduction was enacted through 2025 under the Tax Cuts and Jobs Act (TCJA), ( P.L. 115-97). The pass-through deduction has remained one of the most controversial provisions of last year’s tax reform.

The House’s top tax writer has unveiled Republicans’ "Tax Reform 2.0" framework. The framework outlines three key focus areas:.

The IRS faces numerous challenges, most of which are attributable to funding cuts, the National Taxpayer Advocate Nina Olson told a Senate panel on July 26. "The IRS needs adequate funding to do its job effectively," Olson told lawmakers.

Senate Finance Committee (SFC) Republicans are clarifying congressional intent of certain tax reform provisions. In an August 16 letter, GOP Senate tax writers called on Treasury and the IRS to issue tax reform guidance consistent with the clarifications.

Taxpayers and practitioners need clarity on certain S corporation issues by next tax filing season, the American Institute of CPAs (AICPA) has said. In an August 13 letter sent to Treasury and the IRS, the AICPA requested immediate guidance on certain S corporation provisions under the Tax Cuts and Jobs Act (TCJA) (P.L. 115-97).