This is the third installment of our monthly tax blog about the Tax Cuts and Jobs Act. In our two previous posts, we discussed changes to individual tax rates, exemptions, the standard deduction, and itemized deductions. In this post, we will conduct an overview of the Section 199A deduction, which is also known as the…

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This summer, parents are increasingly looking forward to the day their kids will be out of the house, but dreading the cost of their new residence: college.  As you consider college saving plan options, consider the two most common tax favored savings tools available: the Coverdell Education Savings Accounts and 529 Plan accounts.  The Coverdell…

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The U.S. Supreme Court has issued its highly anticipated decision in South Dakota v. Wayfair, overruling Quill’s decades old physical presence sales tax nexus standard. This decision will have significant implications for almost all industries, but especially consumer products (retailers) and industrial products. This case dealt with whether a state has the authority to require…

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RSM previously issued a tax alert about the recent changes in IRS procedures with regards to the new verification process when authenticating third party representatives who are contacting the IRS’ practitioner priority service (PPS) line on behalf of their clients. The prior tax alert was based on RSM’s experiences when dealing with the PPS line….

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