Library of Tax Technical Trends and Topics

Welcome to Schneider Downs Library of Tax Technical Trends and Topics, a web page where our team of tax professionals posts articles about emerging tax issues, proposed legislation and current tax trends and techniques that impact the tax situations of individuals, businesses and tax exempt organizations.

The information and articles prepared by Schneider Downs tax professionals and published in our library are designed to alert you to significant tax developments, guide you as you prepare for the positive or negative impact the developments may have on you, your business or organization, and demonstrate how Schneider Downs may assist you in responding to new technical trends and topics. Our goal is to offer proactive and cutting-edge ideas and to serve our clients and friends of the firm.

We encourage you to bookmark this page and check it often. The articles are listed on the right-hand side of the page and updated frequently.

2020 Election from a Tax Perspective

With the presidential election about two weeks away, we wanted to highlight President Trump and Democratic presidential candidate Joe Biden’s tax

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Financial Boot Camp Series: Focus on What You Can Control to Increase After-Tax Performance

2020 has certainly been an interesting year and again has reminded investors that they only have direct control over a precious few variables. These include

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IRS Issues Final Regulations for Non-Grantor Trust Deductions

The IRS has issued final regulations on the deductions available to estates and non-grantor trusts. Under the Tax Cuts and Jobs Act, which was enacted

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A Closer Look at Meals and Entertainment Expenses

Two of the most common business expenses, and their related tax adjustments, are meals and entertainment expenses. Internal Revenue Code Section 274 governs

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Updated 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund

During the COVID-19 crisis, Form 941 was revised as new relief bills have offered opportunities for employers to qualify for credits and deferral of employment

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IRS Provides Foreign Trust Reporting Requirements

The IRS has provided on its website a summary of reporting requirements for foreign trusts and their U.S. owners. Though these regulations are not new,

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IRS Issued Final Regulations on the GILTI High-Tax Exclusion

Are you a U.S. shareholder of a controlled foreign corporation (CFC)? The final regulation on Global Intangible Low-Taxed Income (GILTI) high-tax exclusion

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Final 163(j) Regulations a Win for Manufacturers and Private Equity-Owned Businesses

In late July, the Internal Revenue Service (IRS) issued final regulations on Internal Revenue Code (IRC) Section 163(j) that limits the deductibility of

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Choosing The Wrong Accounting Method for Home Construction Contracts is a Costly Mistake

Often you learn the most from your mistakes. If a contractor chooses the wrong accounting method, during the first two years of operations, the contractor

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2020-2021 Special Per Diem Rates

The IRS recently released Notice 2020-71, detailing the new special per diem rates taxpayers use to substantiate necessary business expenses while traveling

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