Rev. Proc. 2019-46 reflects changes from the Tax Cuts and Jobs Act. | Art of Accounting: Accountants’ delinquent tax filing | | By Edward Mendlowitz 2 min read | | Accounting firm owners and partners who did not get their own tax returns in on time face losing their licenses, being expelled from their professional societies, losing their livelihoods and possibly being imprisoned. | |
| IRS expands in-person tax compliance visits | | By Michael Cohn 4 min read | | The Internal Revenue Service is expanding its efforts to ensure businesses and individuals are paying their taxes, particularly payroll taxes, with in-person visits planned by revenue officers to more parts of the country, starting recently in Wisconsin and later this month Texas and Arkansas. | |
| Opportunity zone investments off to an uncertain start | | By Michael Cohn 5 min read | | The tax break included in the Tax Cuts and Jobs Act that encourages real estate investors to develop projects in economically distressed communities in exchange for deferring capital gains taxes for years has come under fire for not living up to its promise. | |
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