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Meals and Entertainment Deductions after Tax Reform

The Tax Cuts and Jobs Act generally disallows a deduction for expenses with respect to entertainment, amusement, or recreation. However, the Act does not specifically address the deductibility of expenses for business meals. The Department of the Treasury and the

Posted in IRS

Vacation, Holiday, and Overtime Pay

Holidays This may come as a surprise, but federal law does not require employers to pay employees extra, or above normal pay, for working on a holiday.  The holidays are typically considered regular workdays and employees receive their normal pay

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The New 1040

The IRS is working on a draft version of the 2018 Form 1040, U.S. Individual Income Tax Return.  It reduces the size of the form to two half-pages in length and eliminates more than 50 lines. The 2018 draft form

Posted in IRS