Current Federal Tax Developments

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2017-07-17 Employer's Error, Employee's Tax Bill

Current Federal Tax Developments for the week of July 17, 2017 - Employer’s Error, Employee’s Tax Bill.  Current Federal Tax Developments is brought to you by the state CPA societies and the Loscalzo Institute.

This week we look at the following developments

  • Employee has to pay tax on amount of plan loan when employer erroneously fails to withhold from paychecks while on leave
  • Legal issue did not originate with S corporation, so only an itemized deduction was allowed
  • Cash basis landfill operator allowed to elect to deduct currently a portion of eventual clean-up costs
  • IRS email explains the limits on the use of Form 941-X to correct issues in prior years

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2017-07-17 Employer's Error, Employee's Tax Bill Ed Zollars, CPA

Articles for this week's developments can be downloaded here.

2017-07-17 Current Federal Tax Developments