Tax Alerts

Tax Briefing(s)

Fiscal Year (FY) 2016 Budget ProposalsTax Increase Prevention Act of 2014/ABLE Act/Omnibus Funding Agreement2014 Year-End Planning

IRS issues 2015 inflation-adjusted vehicle depreciation dollar limits
The IRS has released the inflation-adjusted limitations on depreciation deductions for business-use passenger automobiles, light trucks, and vans first placed in service during calendar year 2015. The...

Store not yet open to public eligible for bonus depreciation
A federal district court has concluded that two buildings designed to be retail stores had been placed in service when the buildings were substantially complete, even though they were not yet open to ...

IRS Offshore Voluntary Disclosure Program to remain open indefinitely
The IRS recently announced that it will continue its offshore voluntary disclosure program (OVDP) for an indefinite period until otherwise announced. Since the program's inception, there have bee...

IRS issues proposed guidance on employee consents for employers seeking FICA tax refunds
The IRS has issued a proposed revenue procedure to clarify questions from employers regarding what information must be provided in an employee's consent to a refund claim made under Code Sec. 6402 for...

IRS will disallow most severance-pay FICA refunds after Quality Stores ruling
The IRS has announced that it will disallow claims for refunds of Federal Insurance Contributions Act (FICA) taxes paid with respect to most severance payments and will take no further actio...

IRS issues 2015 auto and truck maximum FMVs for cents-per-mile/fleet-average valuation
The IRS recently issued the maximum fair market value (FMV) amounts that designate the proper valuation rule for employers calculating fringe benefit income from employer-provided automobiles, trucks,...

IRS updates accounting method procedures
Taxpayers must obtain the IRS’s consent to change any of their accounting methods under Code Sec. 446(e). The IRS has updated and made changes to its revenue procedures for obtaining IRS consent...

IRS guidance describes application of research credit to internal use software
Treasury and the IRS have issued proposed regulations on the research tax credit with respect to computer software developed for internal use. The proposed regulations define "internal use softwa...

Congress retroactively increases excludable transit benefits; IRS provides guidance for employers
At the end of 2014, Congress passed the Tax Increase Prevention Act of 2014 (2014 Tax Prevention Act) (P.L. 113-295), which extended numerous provisions for the 2014 tax year. One of these extensions ...

National Taxpayer Advocate’s Annual Report to Congress criticizes IRS budget cuts
National Taxpayer Advocate (NTA) Nina Olson has released her 2014 Annual Report to Congress and cautioned that due to budget cuts, the IRS’s customer service has reached unacceptably low levels ...

CA - Los angeles business tax rate reduced
Los Angeles Mayor Eric Garcetti approved an ordinance that lowers the city’s business tax rate for certain professions and occupations and consolidates several business classifications into two ...

OR - Penalties for failure to file electronically will be assessed
The Oregon Department of Revenue has informed taxpayers that starting with the filing of 2014 returns this year, the department will be assessing penalties for failing to file information returns elec...

WA - Registration requirements for direct sales independent consultants explained
The Washington Department of Revenue has issued guidance on the tax registration responsibilities of a direct sales independent consultant. If the direct selling organization has a tax collection agre...

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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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