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ALL 25 Qualified Opportunity Zones nominated by Rhode Island to the U.S. Department of Treasury and the IRS were approved. Areas in purple were submitted to the federal program and received QOZ designation, while areas in green were eligible but not submitted. Rhode Island submitted the maximum number of designations allowed./ COURTESY R.I. COMMERCE CORP.

IRS unveils proposed rules for tax law’s big capital gains break:...

NEW YORK - The Internal Revenue Service unveiled proposed regulations Friday for what Treasury Secretary Steven Mnuchin says could be a $100 billion investment opportunity...
THE IRS ISSUED guidance that companies can still deduct 50 percent of meals while entertaining clients and customers. Tax professionals had been unsure as to whether the deductions were still valid after the passage of the 2017 Tax Cuts and Jobs Act. / BLOOMBERG NEWS FILE PHOTO/GERALDINE HOPE GHELLI

You can still deduct a client’s meal on a night out,...

NEW YORK - The Internal Revenue Service is giving businesses a tax break they thought they had lost in the tax overhaul last year...

IRS targets loopholes for $415B business owner tax break

NEW YORK - The Internal Revenue Service provided some long-awaited answers for business owners hoping to dodge the limits on a juicy new tax...
OPPORTUNITY ZONE: Chris Vitale, community-development coordinator for Bristol, stands on Hope Street, one of the areas recently approved by the Treasury Department as an opportunity zone, which will be marketed to developers as a place for ­investment. / PBN PHOTO/MICHAEL SALERNO

Treasury Department approves R.I.’s 25 census tracts for opportunity-zone program

In mid-April, R.I. Commerce Corp. identified 25 low-income census tracts across 15 cities and towns in Rhode Island as opportunity zones, including Bristol’s tract...
THE IRS FILING SYSTEM was experiencing technical malfunctions on the final day for Americans to file taxes. / BLOOMBERG FILE PHOTO/DANIEL ACKER

IRS filing system has glitch as taxpayers race to meet deadline

NEW YORK - The U.S. Internal Revenue Service’s online filing system was experiencing malfunctions on Tuesday - the day tax returns are due for...
RONALD W. NOSSEK is a partner at BlumShaprio in Rhode Island. / COURTESY BLUMSHAPIRO

Five Questions With: Ronald W. Nossek

Ronald W. Nossek is a partner at BlumShaprio in Rhode Island. Nossek specializes in audits of government entities. He talks with Providence Business News...
IN AN EFFORT to help Americans determine if the amount of federal taxes being withheld from their pay is accurate under the new tax law, the U.S. Treasury Department Wednesday unveiled an online calculator, which is available at irs.gov. / BLOOMBERG FILE PHOTO/DANIEL ACKER

Tax cut calculator unveiled by Treasury to verify withholding

NEW YORK - The U.S. Treasury Department unveiled an online calculator Wednesday to help Americans determine whether the amount of federal taxes being withheld from...
A NATIONAL SALES executive for Dr. Pepper/Seven Up, Inc., a subsidiary of Dr. Pepper Snapple Group Inc. pleaded guilty to charges of fraud and tax evasion in U.S. District Court. / BLOOMBERG FILE PHOTO/LUKE SHARRETT

Dr. Pepper sales executive pleads guilty to charges of fraud, tax...

PROVIDENCE - A national sales executive for Dr. Pepper/Seven Up Inc., a subsidiary of Dr. Pepper Snapple Group Inc., pleaded guilty to charges of fraud...
THE IRS has released guidance for employers about how much tax they should withhold from workers’ paychecks in 2018. / BLOOMBERG FILE PHOTO/DANIEL ACKER

IRS sets withholding tables as GOP pledges paycheck increase

NEW YORK - The Internal Revenue Service released guidance for employers about how much tax they should withhold from workers’ paychecks in 2018 -...
THE DEADLINE TO PAY 2017 state and local taxes that will be deductible on 2017 federal taxes is Dec. 31. / BLOOMBERG FILE PHOTO/MICHAEL NAGLE

Short time left to prepay property tax and still deduct from...

PROVIDENCE – With the calendar year drawing to a close, many residents across the nation are seeking to pay property taxes by Dec. 31...

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