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IRS Publishes Final Opportunity Zone Regulations: Putting It All Together (Forbes) - To be honest, the whole opportunity zone thing has been a bit of a phenomenon. Once an overlooked eight pages of sloppily-written text buried deep within the Tax Cuts and Jobs Act, over the last two years, the opportunity zone tax break â or at least talking about the opportunity zone tax break â has become big business. ADVERTISEMENT Share our news via Twitter and Facebook, on your personalized news page. MORE HEADLINES 2020: An Age of Innovation (Accounting Today) - Erik Asgeirsson describes the new audit tools and many other developments coming out of CPA.com and the American Institute of CPAs. The State of the Profession (CPA Journal) - Analyzing the Results of the 2019 Practice Management Survey. You Might Be a Tax Shelter if â¦(Podcast) (JofA) - The Tax Cuts and Jobs Act, P.L. 115-97, made tax accounting easier for many businesses with average annual gross receipts of $25 million or less . The benefits include the cash method of accounting, exemption from UNICAP rules, exemption from some inventory accounting requirements, and more. But an âexception to the exceptionsâ denies these advantages to tax shelters, The World's Tallest Active Geyser Has Another Record Year (NPR) - The geyser can shoot water more than 300 feet into the air, and this year it has erupted more than 45 times, surpassing the 32 eruptions recorded in 2018. In the three years before that, however, the geyser didn't erupt at all. Taxation Accounting/Audit |  TOP 5 MOST READ TOOLS OF THE TRADE e-BREAKS  Top 10 Reasons Accountants Are Cooler than you Think   |