The Status of the âMarriage Penaltyâ (CPA Journal) - This article demonstrates that, while the TCJA has offered some relief to married couples filing jointly by either eliminating or minimizing the marriage penalty in a few areas, the penalty persists in other areas. It describes how the penalty worked prior to the TCJA...
MORE HEADLINES
When Clients Flout the Related Party Rules (Accounting Web) - In this post, we will go over the basics of Teruya Brothers Ltd. v. Commissioner (2009) and then discuss why CPAs need to pay close attention. Teruya involves the ârelated partyâ rules of Section 1031, which are among the most perplexing and least understood.
6 Tips for Using Your iPhone at Night or in the Dark (How-to-Geek) - Your iPhone can adapt to reduce eye strain and promote healthier sleep, but thatâs not all it can do after the sun goes down. Weâll explain Dark and Night modes, Night Shift, and all the other features you need to know.
After Confusion, IRS Clarifies Tax Treatment Of Fortnite & Gaming Currencies (Forbes) - Gamers (and their parents) can finally breathe a sigh of relief: Fortnite virtual currency is not taxable. If youâve seen headlines suggesting that it is taxable - and then contrary headlines saying that it is not - hereâs what happened. In October of 2019, the following language was spotted on the Internal Revenue Service (IRS) website...