866.464.2839 | info@calibrecpa.com

Tax Regulation & Reporting

DOL Establishes Form T-1, Trust Annual Report

On  March 6, 2020, the Office of Labor-Management Standards (OLMS) published a final rule establishing a Form T–1, Trust Annual Report that requires annual reporting...
Read More
Image

IRS Releases Electronic Form 1023

Rev. Proc. 2020-08 reflects updated procedures for submission On Jan. 31, 2020, the Internal Revenue Service (IRS) released the revised electronic Form 1023, Application for...
Read More

IRS Issues 2020 Standard Mileage Rates

The optional standard mileage rates for business use of a vehicle will decrease slightly in 2020 after increasing significantly in 2019, the IRS announced on...
Read More

Potential Changes to Form 1040

In 2018, the Internal Revenue Service (IRS) made drastic changes to Form 1040, U.S. Individual Income Tax Return. It eliminated 50 lines on the main...
Read More

The Taxpayer First Act

On July 1, 2019 President Donald Trump signed the Taxpayer First Act, which requires tax-exempt organizations to file all Form 990 series returns electronically, which...
Read More

Update to Renewal Process for Exempt Status in DC

Tax-exempt organizations no longer are required to submit an affirmation letter of federal exempt status to the District of Columbia Office of Tax and Revenue...
Read More

New Rules for New York City Commercial Rent Tax

The New York City Commercial Rent tax (NYC CRT) has been applicable to many businesses in Manhattan since 1963. Now, a recent law, passed by...
Read More

Webinar Recap – What Nonprofits Need to Know About ASU 2016-14

Steven C. Darr and Mary Margaret Prange, Partners at Calibre CPA Group, recently presented a webinar on ASU 2016-14. This ASU has resulted in the...
Read More

IRS Issues Interim Guidance on New Rules to Compute UBIT

Section 512(a)(6) was added to the Internal Revenue Code as part of the Tax Cuts and Jobs Act passed in December 2017. It required that...
Read More