RMD Archives | EA Journal

Tax Court

When Did Congress Intend the New §4973 Statute of Limitations to Take Effect?

If a taxpayer contributes more than the allowed amount to an individual retirement account (IRA), §4973 imposes a 6 percent excise tax on those excess contributions. Before the SECURE... Thomas Gorczynski, EA, USTCP

Fall 2024, Tax Court, Tax Court, IRA, Form 1040, required minimum distribution, RMD, SECURE Act 2.0, individual retirement account, §4973, Form 5329, §6501(l)(4)(A), Couturier, §6501(l)(4)(C), §6501(l)(4), §313(b), Sundstrand Corp. v. Commissioner, lak Invs. v. Commissioner

Preparation

Key Considerations for Enrolled Agents in the Upcoming Tax Season

The Tax Cuts and Jobs Act (TCJA) of 2017 brought substantial changes to individual income taxes, but many of these provisions are scheduled to expire at the end of 2025. As tax practitioner... Stephen Molchan, EA

Winter 2023, Preparation, TCJA, Tax Cuts and Jobs Act, s corporation, c corporation, §199A, partnership, ROTH IRA, LLC, adjusted gross income, AGI, required minimum distribution, RMD, capital gains, SECURE Act 2.0, Alternative minimum tax, limited liability company, sole proprietor

Tax News Briefs

Important Tax News You Can Use

Penalty Relief for 2019 and 2020 Tax Returns The Internal Revenue Service (IRS) is providing relief for taxpayers from certain failure-to-file penalties with respect to tax returns for the ... TheTaxBook

Nov/Dec 2022, Tax News Briefs, foreign, penalty, relief, COVID-19, PPP, SECURE Act, Form 1040, §6651(a)(1), Form 5471, Form 3520, Form 3520-A, RMD, Form 1040-NR, Form 1040-SS, Form 1040-PR, Form 1040-SR, Form 1040-C, Form 1041, Form 1041-N, Form 1040-QFT, Form 1120, Form 1120-C, Form 1120-F, Form 1066, Foem 990-PF, Form 990-T, international information returns, IIR, Form 5472, §6698(a)(2), §6698(a)(1), §6699(a)(2), §6699(a)(1), §6721(a)(2)(A), Setting Every Community Up for Retirement Enhancement Act, livestock, drought, Notice 2006-82, Notice 2022-43

Tax Policy

Tax Policy 101

Those of you who have made the pilgrimage to the Internal Revenue Services’ (IRS) headquarters, which I have quasi-affectionately referred to as “the big house,” (or by its address, 1111 Constitution Avenue) may have noted the Oliver Wendall H... Robert Kerr, EA

Nov/Dec 2021, Tax Policy, Internal Revenue Code, international, GILTI, tax policy, global intangible low-tax income, foreign derived intangible income, FDII, required minimum distribution, RMD, Registered Tax Return Preparer program, RTRP, Loving v. Commissioner