Richard W. Brewster, CPA, PC

Tax Alerts

Tax Briefing(s)

2018 Year-End Tax Planning Tax Reform 2.0 2018 Post-Filing Season Update Congress Approves Sweeping Tax Overhaul

IRS Updates 2018 Schedule D Instructions to Correct Worksheet Error
The IRS posted updated instructions for 2018 Schedule D (Form 1040), Capital Gains and Losses, that include a corrected worksheet. The revised worksheet corrects a rate error that may have calculated ...

IRS Finalizes Rules Increasing Enrolled Agent Application and Renewal Fees
The IRS has finalized regulations that increase both the enrollment and renewal user fee for enrolled agents from $30 to $67. The rules also increase the renewal user fee for enrolled retirement plan ...

Indian Tribal Casino Distributions Taxable to Members
A married couple had unreported taxable income in the form of distributions received from casino revenue. However, the IRS did not obtain written supervisory approval before the first formal communica...

IRS Allowed to Treat Partnership as Aggregate of its Partners
The IRS was allowed to assert its authority under the abuse of entity rule of Reg. §1.701-2(e) to treat a partnership as an aggregate of its partners. Treating the partnership as an agg...

IRS Issues Nonconventional Source Fuel Reference Price for 2018
The IRS has published the reference price under Code Sec. 45K(d)(2)(C). The credit period for the nonconventional source production credit under Code Sec. 45K ended on December 31, 2013...

Comments Sought on Carbon Oxide Sequestration Credit
The Treasury Department and the IRS have requested general comments on issues arising from the Bipartisan Budget Act of 2018 (BBA) ( P.L. 115-123) amendments to the Code Sec. 45Q credit...

IRS Clarifies Treatment of Refunds with New SALT Limits
The IRS has provided four examples of the interaction of the new limit on the deduction on state and local taxes (SALT) under Code Sec. 164(b)(6) with the tax benefit rule for refunds under&...

Plug-In Electric Vehicle Credit to Phase Out for GM Vehicles
The tax credit for new qualified plug-in electric drive motor vehicles sold by General Motors, LLC, will begin to phase out April 1, 2019. The credit begins to phase out in the second calendar quarter...

2019 Foreign Housing Expense Limitations Released
The IRS has provided the adjustments to the limitation on foreign housing expenses for specific locations for tax year 2019. Generally, a qualified individual whose entire tax year is within the appli...

2018 Waivers of 911 Eligibility Requirements Due to Adverse Conditions
The IRS has provided a waiver for any individual who, for the 2018 tax year, failed to meet the eligibility requirements of Code Sec. 911(d)(1) due to war, civil unrest, or similar adverse c...

IRS Revises EIN Application Process
As part of its ongoing security review, the IRS is revising the application process for obtaining an employer identification number (EIN). Starting May 13, 2019, only individuals with social security ...

IRS Issues 2018 Nonconventional Source Fuel Reference Price
The IRS has published the nonconventional source fuel reference price for calendar year 2018. The credit period for the nonconventional source production credit under Code Sec. 45K ended on ...

CA - Dividends company received after mergers qualify for elimination from income
The dividends a company received after a series of mergers qualify for elimination from income for California tax purposes. The Franchise Tax Board (FTB) has ruled on the application of the intercompa...

OR - Oregon adopts partnership audit procedures
Oregon has adopted partnership audit procedures to bring Oregon into conformity with the federal centralized partnership audit regime. The requirements apply to partnership adjustments for partnership...

WA - Timber products tax extended
The Washington business and occupation (B&O) tax and surcharge for timber products have been extended.Timber Products TaxThe reduced timber products B&O tax is extended to July 1, 2045. Furthe...

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Richard W. Brewster is a Certified Public Accountant and Oregon Licensed Municipal Auditor with an office located in Medford, Oregon. Areas of specific expertise include tax and accounting for businesses, trusts and estates, and non-profit organizations.

The firm employs a specialized staff of tax, accounting, and auditing professionals and strives for personalized service and flexibility in the ever changing environment of tax and business. Additional services offered include attestation services including compilation, review and audit of financial statements.

Complete tax, accounting and auditing services for individuals, trusts, estates, businesses and municipalities.

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