The IRS, in a just-released "information letter," described the tax treatment of college athletic scholarships. The IRS reiterated that whether an individual is treated as an employee for labor law...
The IRS has provided guidance on applying the passive activity loss (PAL) rules to a taxpayer who may be a real estate professional. The IRS concluded that a taxpayer's status as a real estate prof...
The IRS has postponed the effective date of final regulations (TD 9664) on the application of the two percent floor for miscellaneous itemized deductions (including bundled fees) incurred by an est...
Reflecting the Tax Court's decision in Bobrow (TC Memo. 2014-21) earlier this year, the IRS has withdrawn Prop. Reg. §1.408-4(b)(4)(ii). This withdrawal makes good on its announced in...
The IRS has issued new guidance providing that a payee who has received a second backup withholding notice ("B notice") from a payor may provide the payor with a valid copy of a Social Security car...
The IRS continues to provide guidance and instructions relating to the disclosure and reporting of offshore assets under the Foreign Account Tax Compliance Act of 2010 (FATCA). FATCA was enacted to...
Newly released data from the IRS reveals an increase in adjusted gross incomes, the number of taxpayers paying alternative minimum tax (AMT) and more. The data, posted in the Spring 2014 Statistics...
The U.S. Supreme Court ruled in June that inherited IRAs are not "retirement funds" exempt from a debtor's bankruptcy estate. Unlike funds in other accounts, funds in inherited IRAs are not set asi...
In a taxpayer-friendly ruling, the IRS recently determined that a surviving spouse could roll over two Roth IRAs, which were payable to a trust controlled by her, into her own Roth IRA. The taxpaye...
Individuals who practice before the IRS, for example, by representing taxpayers in disputes with the agency, are subject to rules of professional conduct. While these rules are targeted to practiti...
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116 West Main Street
Washington, IA 52353
Iowa City Office
2730 Naples Avenue SW Suite #101
Iowa City, IA 52240
1201 North Avenue
Tipton, IA 52772
Cedar Rapids Office
3037 Center Point Road NE
Cedar Rapids, IA 52402
Grundy Center Office
618 G Avenue
Grundy Center, IA 50638
124 West Third Street
Tama, IA 52339