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

Tax Alerts
Tax Briefing(s)

Stay up to date on the newest tax laws and planning ideas by reading our monthly Tax & Business Alert for August 2019 .


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.


Please read about the various changes in payroll withholding and related tax filing requirments for 2019.


"A thumb goes up, a car goes by…" Tax extenders remain a top contender for "hitching a ride" on November’s must-pass government funding bill.


The IRS has issued a revenue procedure with a safe harbor that allows certain interests in rental real estate to be treated as a trade or business for purposes of the Code Sec. 199A qualified business income (QBI) deduction. The safe harbor is intended to lessen taxpayer uncertainty on whether a rental real estate interest qualifies as a trade or business for the QBI deduction, including the application of the aggregation rules in Reg. §1.199A-4.


The IRS has released cryptocurrency guidance and frequently asked questions (FAQs) on virtual currency.


A district court has dismissed a lawsuit filed by four states’ against the federal government, ruling that the $10,000 state and local taxes (SALT) federal deduction cap is not unconstitutionally coercive.


New final regulations that address the allocation of partnership liabilities for disguised sale purposes revert back to prior regulations. Under the final regulations:


The IRS has released final regulation on the election to take a loss resulting from a federally declared disaster in the year preceding the disaster. The final regulations adopt proposed regulations substantially without change.


Proposed regulations provide guidance on the potential tax consequences of replacing the London interbank offered rates (LIBORs) with a new reference rate in contracts and agreements.


HomeAbout UsClient ServicesTax Forms & EventsNewslettersWeb LinksFinancial ToolsCareersContact Us