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About The Tax Adviser
The Tax Adviser is a monthly publication of the American Institute of CPAs, providing tax practitioners with timely, in-depth, practical, and comprehensive information on federal and state tax ...
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Employment tax penalties: Let’s keep it civil
Many practitioners who counsel business clients, both small and large, are familiar with the difficult challenges that quickly arise when taxes are withheld from employee wages but not turned over to ...
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S Corporation Income Taxation
In an S corporation, employee fringe benefits paid on behalf of a 2% shareholder are subject to special rules.
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Taxation of Estates & Trusts
Proceeds from life insurance on decedent not includible in his estate. The IRS issued guidance for recipients of property from decedents on the basis-consistency requirement and for executors and ...
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Partnership and LLC Taxation
Factors potentially causing taxable gain (or loss) from a liquidating distribution include the member’s outside basis and the nature of any property the member contributed to the LLC. Clients should ...
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C Corporation Income Taxation
The IRS ruled that exchanged intangibles such as trademarks, trade names, mastheads, and advertiser and subscriber accounts may be eligible for like-kind exchange treatment. While most tax planning ...
The Tax Adviser9y
S Corporation Income Taxation
This column outlines the special considerations and issues related to life insurance policies for S Corporations. The question of whether an S corporation should be treated the same as a C corporation ...
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S Corporation, Partnership & LLC Taxation
When LLC members receive payments for services performed for the LLC, the tax treatment depends on whether the member is performing the services in the capacity as a member. Approval of an S election ...
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Click-Through Nexus: Pushing the Boundaries of Sales Tax Compliance
Sales and use tax compliance has been complicated by nexus expansion. In this sponsored report we provide an overview of this issue and include a handy state-by-state summary of click-through nexus or ...
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S Corporation, Partnership & LLC Taxation
Target capital allocations attempt to have the allocations of profit and loss follow the cash by making partner capital accounts equal what the partner would receive if the partnership actually ...
The Tax Adviser5y
Partnership and LLC Taxation
Failure to properly complete all required fields on Form 8283, including the donor’s cost or other basis, could jeopardize the entire deduction with respect to the donated property.