Siana Carr O'Connor & Lynam, LLP
Certified Public Accountants and Financial Consultants
HomeAbout UsClient ServicesTax Forms & EventsNewslettersWeb LinksFinancial ToolsContact Us
Newsletters

Tax Alerts
Tax Briefing(s)

SCOL is proud to announce their sponsorship of a Holiday Food Drive benefitting the Chester County FoodBank this holiday season. The drive will run from November 26th through December 17th. Donations can be received in both the lobby of the office entrance and the kitchen within the Firm’s suite. We are seeking donations of nonperishable, unexpired food items. If you are interested in donating, please stop by! Thank you for joining us in fostering the spirit of giving this season!


Click this link to view the December 2018 CPA Client Bulletin provided by Siana Carr O'Connor & Lynam, LLP to its clients through an arrangement with the AICPA, which holds the copyright to the CPA Client Bulletin and reserves all rights. Permission is required for any further redistribution or reuse of this content. Please direct any such inquiries to copyright@aicpa.org.


Avoid the Surprise!  In the world of Income tax, 2018 saw many changes as a result of the Tax Cuts and Jobs Act (TCJA) that was passed in 2017.  To that end, what follows in this memo is a highlight of the most relevant changes and some recurring “standard” advice around which meaningful year-end planning can occur.


Click this link to view the November 2018 CPA Client Bulletin provided by Siana Carr O'Connor & Lynam, LLP to its clients through an arrangement with the AICPA, which holds the copyright to the CPA Client Bulletin and reserves all rights. Permission is required for any further redistribution or reuse of this content. Please direct any such inquiries to copyright@aicpa.org.


Tax-Related Portion of the Substance Use–Disorder Prevention that Promotes Opioid Recovery and Treatment (SUPPORT) for Patients and Communities Act, Enrolled, as Signed by the President on October 24, 2018, P.L. 115-271


Congressional Republicans are looking to move forward with certain legislative tax efforts during Congress’s lame-duck session. The House’s top tax writer, who will hand the reins to Democrats next year, has reportedly outlined several tax measures that will be a priority when lawmakers return to Washington, D.C., during the week of November 12. However, President Donald Trump’s recently touted 10-percent middle-income tax cut does not appear to be one of them.


The Senate Finance Committee’s (SFC) top ranking Democrat has introduced a bill to restore a retirement savings program known as myRA that was terminated by Treasury last year. The myRA program was created by former President Obama through an Executive Order.


A new, 10 percent middle-income tax cut is conditionally expected to be advanced in 2019, according to the House’s top tax writer. This timeline, although largely already expected on Capitol Hill, departs sharply from President Donald Trump’s original prediction that the measure would surface by November.


IRS Commissioner Charles Rettig gave his first speech since being confirmed as the 49th chief of the Service at the American Institute of CPAs (AICPA) November 13 National Tax Conference in Washington, D.C. "You’re going to see things [I do] and go, ‘I can’t believe he did that,’" Rettig said.


The American Institute of Certified Public Accountants (AICPA) and the American Bar Association (ABA) Section of Taxation are urging the IRS to make extensive changes to proposed "transition tax" rules.


Last year’s tax reform created a new Opportunity Zone program, which offers qualifying investors certain tax incentives aimed to spur investment in economically distressed areas. Treasury Secretary Steven Mnuchin has predicted that the Opportunity Zone program will create $100 billion in private capital that will be invested in designated opportunity zones.


The IRS is expected to soon release proposed regulations for tax reform’s new business interest limitation. "They are so broad that nearly every domestic taxpayer will be impacted," Daniel G. Strickland, an associate at Eversheds Sutherland, told Wolters Kluwer.


HomeAbout UsClient ServicesTax Forms & EventsNewslettersWeb LinksFinancial ToolsContact Us