1<!DOCTYPE html> 2<html xmlns="http://www.w3.org/1999/xhtml"> 3 <head> 4 5 6 <title>Newman Town, PLLC</title> 7<link rel="image_src" href="http://www.newmantowncpa.com/images/logo/f562d6f7da121a9bbbf77010f00eee04.jpg" /> 8<meta name="DESCRIPTION" content=""><meta name="KEYWORDS" content="Newman Town, PLLC, Kirkland, WA, 98072Financial Statement Services & Assurance, Tax Planning & Preparation Services, Advisory Services, Construction, Real Estate Services, Construction, Employee Benefit Plans, Family Owned Business, Gaming, Individuals with Tax Complexities, Manufacturing, Not-For-Profit Organizations, Professional Service Firms, Real Estate, Retail, Technology, Wholesale Distribution, Manufacturing, Not-for-Profits, Technology, Distribution, Construction and real estate companies, real estate, construction, technology, professional services, retail, wholesale, manufacturing, mortgage lending, audits, reviews, compilations, attestation engagements, tax planning and preparation, transition planning, tax controversy representation, business and management advisory services, general accounting CFO services, internal control assessments, budgeting, industry benchmarking, due diligence, financial coaching, facilitation of strategic planning, Cash Flow, Internal Reporting, Profitability, Transition Planning, strategic and transition planning, budgeting and cash flow planning, accounting systems, accounting applications, staff development and training,Western Washington University, Washington State Department of Revenue, Pacific Lutheran University, Certified Public Accountant, Certified Management Accountant, Washington Society of Certified Public Accountants, Institute of Management Accountants, Leading with Dignity Program, University of Washington, Certified Public Accountant, American Institute of Certified Public Accountants, Washington State Society of Certified Public Accountants"><meta name="GENERATOR" content="Designed by CCH Site Builder"><link href="css/styles.css?template=Envy&colorScheme=blue&header=headers1&button=buttons3&d=1788203875709" rel="stylesheet" type="text/css"><link href="https://fonts.googleapis.com/css?family=Tinos" rel="stylesheet" type="text/css"> 9 10 <meta http-equiv="Content-Type" content="text/html; charset=utf-8"> 11 <meta name="viewport" content="width=device-width"> 12 13 14 <!--[if IE]> 15 <link rel="stylesheet" type="text/css" href="css/styles-ie.css?template=Envy&colorScheme=blue&header=headers1&button=buttons3&d=1788203875709" /> 16 <![endif]--> 17 18 <!--[if IE 7]> 19 <link rel="stylesheet" type="text/css" href="css/styles-ie7.css?template=Envy&colorScheme=blue&header=headers1&button=buttons3&d=1788203875709" /> 20 <![endif]--> 21 22
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199<link rel="stylesheet" href="//www.cchwebsites.com/content/apps/scroll_alert/scroll0.css?v=3.0.3"> 200 201<div id="tax_alerts_home"> 202<div id="taxAlertPanel_Heading">Newsletters</div> 203<div id="taxAlertPanel"> 204<div class="ticker" id="news"> 205<div id="nl_0" style="display: none;"> 206 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=3688&custom=0');"> 207 Final Regulations Issued on Car Loan Interest Deduction (TD 10054) 208 </a> 209 <br/> 210 The Treasury Department and IRS have finalized regulations regarding the deduction of up to $10,000 in personal car loan interest by individuals for tax years 2025 through 2028. This includes regulati... 211</div> 212<div id="nl_1" style="display: none;"> 213 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=3687&custom=0');"> 214 Proposed Regulations Would Deny Tax-Exempt Status to Private Schools Engaging in Racial Discrimination (NPRM REG-119986-25; IR 2026-103) 215 </a> 216 <br/> 217 The Treasury Department and IRS have issued proposed regulations providing that a private school is not eligible for Federal income tax exemption under section 501(c)(3) if it considers race, color,... 218</div> 219<div id="nl_2" style="display: none;"> 220 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=3686&custom=0');"> 221 Partnership’s Final Partnership Adjustment Timely Under Extended Limitations Period (Katanga Properties, TC) 222 </a> 223 <br/> 224 A Notice of Final Partnership Adjustment (FPA) issued by the IRS to a partnership was timely under Code Sec. 6235 because the partnership and IRS had agreed to extend the limitations period for maki... 225</div> 226<div id="nl_3" style="display: none;"> 227 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=3685&custom=0');"> 228 Disaster Tax Relief Bill Signed Into Law 229 </a> 230 <br/> 231 The Doug LaMalfa Federal Disaster Tax Relief Certainty Act has been signed into law by President Trump.... 232</div> 233<div id="nl_4" style="display: none;"> 234 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=3684&custom=0');"> 235 IRS Modifies Automatic Accounting Method Change Procedures for Research Costs and Construction Contracts (Rev. Proc. 2026-32) 236 </a> 237 <br/> 238 The IRS has modified automatic accounting method change procedures for research or experimental expenditures and certain residential construction contracts. Rev. Proc. 2026-32 modifies sections 7 an... 239</div> 240<div id="nl_5" style="display: none;"> 241 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1420&custom=0');"> 242 President signs Highway Bill revising return due dates, making other compliance change 243 </a> 244 <br/> 245 President Obama signed the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 on July 31. The Act revises some important return due dates, overrules a Supreme Court tax dec... 246</div> 247<div id="nl_6" style="display: none;"> 248 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1419&custom=0');"> 249 Busy tax agenda awaits Congress’ return after August recess 250 </a> 251 <br/> 252 Congress returns to work in September with a full agenda of tax legislation. Lawmakers will search for revenue to pay for a long-term federal highway and transportation bill, debate the fate of popula... 253</div> 254<div id="nl_7" style="display: none;"> 255 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1418&custom=0');"> 256 Developments continue to impact the mortgage interest deduction 257 </a> 258 <br/> 259 The mortgage interest deduction is widely used by the majority of individuals who itemize their deductions. In fact, the size of the average mortgage interest deduction alone persuades many taxpayers ... 260</div> 261<div id="nl_8" style="display: none;"> 262 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1417&custom=0');"> 263 FAQ: When must individuals pay estimated taxes? 264 </a> 265 <br/> 266 Many federal income taxes are paid from amounts that are withheld from payments to the taxpayer. For instance, amounts roughly equal to an employee's estimated tax liability are generally withheld fro... 267</div> 268<div id="nl_9" style="display: none;"> 269 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1416&custom=0');"> 270 How Do I? Form a partnership for tax purposes 271 </a> 272 <br/> 273 A business operated by two or more owners can elect to be taxed as a partnership by filing Form 8832, the Entity Classification
273Election form. A business is eligible to elect partnership status if it ... 274</div> 275<div id="nl_10" style="display: none;"> 276 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1415&custom=0');"> 277 September 2015 tax compliance calendar 278 </a> 279 <br/> 280 As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important tax reporting and filing data for individuals... 281</div> 282<div id="nl_11" style="display: none;"> 283 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1408&custom=0');"> 284 Tax extenders take first steps to passage before Congress breaks for August recess 285 </a> 286 <br/> 287 Just before Congress recessed for its August break, a package of tax extenders was approved by the Senate Finance Committee (SFC). The House and Senate both struggled to find ways to pay for a multi-y... 288</div> 289<div id="nl_12" style="display: none;"> 290 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1407&custom=0');"> 291 Preliminary filing season stats show successes and challenges for IRS 292 </a> 293 <br/> 294 Preliminary information from the 2015 filing season shows a mixed bag of success and failures for the IRS. The IRS successfully processed returns and issued refunds, taking into account new requiremen... 295</div> 296<div id="nl_13" style="display: none;"> 297 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1406&custom=0');"> 298 Lawmakers hear from small businesses about tax complexity, compliance 299 </a> 300 <br/> 301 Small business tax reform was the topic of two Congressional hearings in July. House and Senate lawmakers heard from small business owners and leaders in the tax and accounting area about concerns ove... 302</div> 303<div id="nl_14" style="display: none;"> 304 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1405&custom=0');"> 305 FAQ: Can an S corporation own an interest in another business entity? 306 </a> 307 <br/> 308 An S corporation may own an interest in another business entity. An S corporation can be a member of an affiliated group by owning 80 percent or more of the stock of a C corporation. The group then ca... 309</div> 310<div id="nl_15" style="display: none;"> 311 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1404&custom=0');"> 312 How do I? Compute withholding using the part-year employment method 313 </a> 314 <br/> 315 Employers generally withhold from wages by way of the wage-bracket or percentage method (Code Sec. 3402(b) and Code Sec. 3402(c)). However, an employee may request that the amount of tax withheld by t... 316</div> 317<div id="nl_16" style="display: none;"> 318 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1403&custom=0');"> 319 August 2015 tax compliance calendar 320 </a> 321 <br/> 322 As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important tax reporting and filing data for individuals... 323</div> 324<div id="nl_17" style="display: none;"> 325 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1392&custom=0');"> 326 Supreme Court upholds ACA Code Sec. 36B premium tax credit regs 327 </a> 328 <br/> 329 After months of waiting, the U.S. Supreme Court announced its decision on the fate of the Code Sec. 36B premium assistance tax credit on June 25 in King v. Burwell, 2015-1 ustc ¶50,356. In a 6 to 3 d... 330</div> 331<div id="nl_18" style="display: none;"> 332 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1391&custom=0');"> 333 Supreme Court's same-sex marriage decision affects federal, state taxation 334 </a> 335 <br/> 336 The Supreme Courtâs decision in Obergefell v. Hodges (2015-1 ustc ¶50,357) on June 26, 2015 continues what was set in motion in 2013: the exp
336ansion of tax benefits to same-sex married couples. In O... 337</div> 338<div id="nl_19" style="display: none;"> 339 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1390&custom=0');"> 340 Treasury, IRS get moving on ABLE account rules 341 </a> 342 <br/> 343 Late in 2014, Congress passed and President Obama signed into the law the Achieving a Better Life Experience (ABLE) Act. The new law, which enjoyed strong bipartisan support, authorizes the creation o... 344</div> 345<div id="nl_20" style="display: none;"> 346 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1388&custom=0');"> 347 How Do I? Determine when the "at risk" rules apply to my business 348 </a> 349 <br/> 350 Taxpayers that invest in a trade or business or an activity for the production of income can only deduct losses from the activity or business if the taxpayer is at risk for the investment. A taxpayer ... 351</div> 352<div id="nl_21" style="display: none;"> 353 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1386&custom=0');"> 354 FAQ...Can I deduct the cost of sending my child to summer camp? 355 </a> 356 <br/> 357 Now that summer is officially here and the main filing season is out of the way, tax planning may be far from your mind. However, typical summer traditions can yield tax benefits. For example, when sc... 358</div> 359<div id="nl_22" style="display: none;"> 360 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1385&custom=0');"> 361 July 2015 tax compliance calendar 362 </a> 363 <br/> 364 As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important tax reporting and filing data for individuals... 365</div> 366<div id="nl_23" style="display: none;"> 367 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1373&custom=0');"> 368 Lawmakers add tax measures to trade package, approve other tax bills 369 </a> 370 <br/> 371 Tax provisions are often included as revenue raisers in non-tax bills and this year is no exception. A massive trade package making its way through Congress contains a number of tax measures, impactin... 372</div> 373<div id="nl_24" style="display: none;"> 374 <a href="javascript: void(0)" onClick="popup_app('//www.newmantowncpa.com/content/apps/newsletter_popup.php?id=1372&custom=0');"> 375 How the IRS resolves an identity theft case 376 </a> 377 <br/> 378 The IRS has responded to criticism from the Treasury Inspector General for Tax Administration and the National Taxpayer Advocate, among others, that resolution of identity theft accounts takes too lon... 379</div> 380
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485 486</div> 487</div> 488</div> 489</div><div id="page_description"><p style="text-align:center;"><em><strong> </strong></em></p><p style="text-align:center;"><em><strong>Our address is:</strong></em></p><p style="text-align:center;"><em><strong> 1410 Market Street, Suite 100, Kirkland, WA 98033</strong></em><strong><em></em></strong><strong><em></em></strong><strong><em></em></strong></p><p style="text-align:center;"><strong><em> </em></strong></p><p style="text-align:center;"><strong><em></em></strong></p><p style="text-align:center;"><strong>Newman Town provides Financial Statement, </strong><strong>Tax and Advisory Services.</strong></p><p style="text-align:justify;">At Newman Town we know you have a choice in deciding who you want to do business with. Simply, we serve our clients by providing the highest level of service. We use a proactive approach in providing advisory services that brings quality solutions that not only helps our clients solve their unique challenges, but strives to look for ways to improve their financial capabilities for the long term.</p><p style="text-align:justify;">Throughout our careers, we have exemplified one key component: <strong>Service Excellence</strong>. As a result, you can expect for us to not just meet your needs, but can count on a long term relationship that will grow as your business grows with our commitment to <strong>Honesty, Integrity, Respect, & Credibility</strong>.  </p><p style="text-align:center;"><span style="font-size:8pt;"><span style="font-family:'arial black', sans-serif;"><span style="font-size:12pt;"><span style="font-size:10pt;"> <span style="font-size:12pt;">To upload files to your Citrix ShareFile</span></span></span></span><span style="font-family:'arial black', sans-serif;font-size:12pt;"> folder</span></span></p><p style="text-align:center;"><a href="https://newmantowncpa.sharefile.com/">https://newmantowncpa.sharefile.com/</a> </p><p style="text-align:center;">If you need to create a login, please contact our office.</p><p style="text-align:center;"><img alt="Citrix Files image" height="62" src="https://store-images.s-microsoft.com/image/apps.51294.333add2c-f70e-4c1d-8b02-ebd170255e27.b4d03c05-ac30-411c-86b5-0d18b5de637a.cd837ff8-b45a-4b68-a9d6-7cbb51961324.png" width="62" /></p><p style="text-align:center;"><span style="font-size:8pt;"><span style="font-family:'arial black', sans-serif;"> </span></span></p><p style="text-align:justify;"> </p></div><div class="sitebuilderModules" align="center">
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