What are the IRS tax debt resolution options if I can’t pay what I owe? The IRS offers four main paths: short-term and long-term Installment Agreements, Offer in Compromise (OIC) for those who can prove inability to pay, Currently Not Collectible (CNC) status to pause collections, and Penalty Abatement to reduce or eliminate associated penalties….
What are the key FERC GAAP accounting differences for power and utility companies? FERC uses equity-method accounting for all subsidiaries regardless of ownership, classifies certain non-utility activities “below the line,” includes accumulated cost of removal in accumulated depreciation, and lacks the current/long-term distinction common in US GAAP — creating systematic reconciliation work for every regulated…
How did the IRS 2026 filing season perform and what’s next for the agency? IRS CEO Frank Bisignano reported 134 million returns filed, a $3,400 average refund up 11%, and $2 billion collected from the agency’s five largest enforcement cases — even as House appropriators propose a 9% FY2027 budget cut. The IRS 2026 filing…
What is the foreign earned income exclusion relief under Rev. Proc. 2026-16? The IRS waives the section 911 residency and presence tests for 2025 for qualified individuals who had to leave seven specified countries due to war, civil unrest, or similar adverse conditions. If you’re a US citizen or resident who was living abroad and…
What changed for internal use software capitalization under ASU 2025-06? The FASB eliminated the old project-stage gating and replaced it with a single “probable-to-complete” threshold — finally aligning US GAAP with how agile software development actually works in 2026. If you’ve ever tried to apply the 1998 internal-use software rules to a modern agile sprint,…
What are the biggest global tax developments in April 2026? Key global tax updates april 2026 from Deloitte’s World Tax Advisor cover the U.S. 2025 APA Report, final stock buyback excise tax rules, Belgium’s new capital gains regime, UAE’s R&D credit, Norway’s Supreme Court transfer pricing ruling, and retroactive Australian CGT changes for foreign residents….
Which jobs qualify for the new qualified tips deduction under OBBBA? The IRS final rule under Section 224 lists 68 tipped occupations across 8 categories — from servers and bartenders to barbers, delivery drivers, golf caddies, and digital content creators — capped at $25,000 per year through 2028. The long-awaited IRS final regulations on the…
How much can U.S. expats deduct for housing costs abroad in 2026? Under the foreign housing exclusion 2026 limits just released in IRS Notice 2026-25, the cap ranges from $39,870 in standard locations to $114,300 in Hong Kong, with more than 400 high-cost cities receiving upward adjustments. If you’re a U.S. citizen or resident earning…
Is an APA the right tool for your multinational’s transfer pricing strategy? An advance pricing agreement 2026 locks in an IRS-approved transfer pricing method for up to five prospective years, eliminating audit risk and double taxation for multinationals operating between the US and foreign jurisdictions. For multinational companies with intercompany transactions crossing US borders, transfer…
Planning to e-file tax returns in 2026? Everything tax professionals and CPA firms need to know about obtaining, protecting, and managing an Electronic Filing Identification Number — the EFIN application 2026 process from e-Services application to suitability checks, fingerprinting, and fraud prevention. If you are planning to e-file federal tax returns as a paid preparer…
