BLS Insights

Discover the depth of BLS knowledge and information.

Month: August 2016

Canceled Debt – The Business Effect

August 29, 2016

As a general rule, an individual taxpayer who is not considered insolvent or in bankruptcy may have to treat cancelled debt unrelated to their personal home as taxable income.

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New Diversification Requirements for Captive Insurance Companies

August 11, 2016

Last December when Congress passed the Protecting Americans from Tax Hikes Act of 2015, or PATH Act as it is more commonly known, many tax provisions were impacted.

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A Look Ahead – The IRS’s Strategic Initiatives for Regulating the Tax Exempt Community.

August 03, 2016

Compliance by operating within an organization’s exempt purpose is paramount to managing, governing, and servicing nonprofit organizations.

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