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Your privacy is a primary concern to us at Ralph Maya & Company, CPAs. Our goal in expanding and clarifying our policy on the collection and use of client data is to ensure the highest level of confidentiality and security. This policy is a company-wide policy, not limited to our website. When you provide your personal information to Ralph Maya & Company, CPAs (such as your name, address, phone number, company name, or Federal Identification Number), we will not give or sell your individual information to any outside company for its use in marketing or solicitation without your consent. We will maintain the confidentiality of your personal information and it will be used only to support your client relationship with Ralph Maya & Company, CPAs. Additionally, internal practices help protect your privacy by limiting employee access to and use of customer data. When we ask for client information, we achieve our goal of improving the relationship with our clients. At Ralph Maya & Company, CPAs, we are helping you maintain control over your personal data while fostering the growth of a more interactive online environment. Our intention is to send e-mails only to clients or to individuals you, as clients, have chosen to receive such emails. At any time, you have the right to "opt out" of receiving future Ralph Maya & Company, CPAs' communications.

Final regulations dealing with the 100 percent bonus depreciation allowance for qualified property acquired and placed in service after September 27, 2017, allow property which is constructed under a pre-September 28, 2017 binding contract to qualify for the 100 percent rate. The final regulations adopt proposed regulations ( REG-104397-18) with certain modifications, including a revised constructed property rule. In addition, the IRS has issued a new set of proposed regulations dealing with issues it is not ready to finalize.



The IRS has issued final regulations that amend the rules relating to hardship distributions from Code Sec. 401(k) plans. The final regulations are substantially similar to the proposed regulations. Further, plans that complied with the proposed regulations satisfy the final regulations as well. The regulations are effective on September 23, 2019.


For a taxpayer using an accrual method of accounting, the all events test is not met for item of gross income any later than when is included in revenue on an applicable financial statement (AFS) or other financial statement specified by the Treasury Secretary. How the AFS income inclusion rule applies to accrual method taxpayers with an AFS is described and clarified by Proposed Reg. §1.451-3.



Taxpayers may use the automatic consent procedures to change accounting methods to comply with the recent proposed regulations described above. Rev. Proc. 2018-31, I.R.B. 2018-22, 637, is modified.


Amendments to have been proposed to update the information reporting regulations under Code Sec. 6033, which generally apply to organizations exempt from tax under Code Sec. 501(a). The proposed regulations reflect statutory amendments and certain grants of reporting relief announced through guidance that has been made since the current regulations were adopted. The amendments and grants of relief apply particularly with respect to tax-exempt organizations required to file an annual Form 990, Return of Organization Exempt from Income Tax, or a Form 990-EZ information return.


No, taxpayers may destroy the original hardcopy of books and records and the original computerized records detailing the expenses of a business if they use an electronic storage system.