The Tax Adviser1 个月
Partnership and LLC Taxation
This article reviews how depreciation from a partnership is allocated between a trust and its beneficiaries and highlights the potential trap the allocation can cause when the depreciation deduction ...
The Tax Adviser2 个月
C Corporation Income Taxation
In a letter ruling, the IRS ruled that the investment advisory fees paid by an annuity contract would not be considered an amount received in gross income by a contract’s owner. Taxpayers engaging in ...
The Tax Adviser2 个月
S Corporation, Partnership & LLC Taxation
The IRS is providing relief from penalties imposed solely for failure to furnish Part IV of Form 8308 for partnerships by Jan. 31, 2025, if a partnership meets certain requirements. The IRS issued ...
The Tax Adviser3 个月
S Corporation Income Taxation
Without a delay, “millions of small business owners become accidentally and unknowingly delinquent in their compliance,” reads the letter, signed by CEO Barry Melancon, CPA, CGMA.
The Tax Adviser5 个月
C Corporation Income Taxation
Strategies for ameliorating limitations on carryovers by members of a consolidated group may include amending a corporation’s ownership structure. When claiming research and development tax credits, a ...
The Tax Adviser7 个月
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 ...
The Tax Adviser8 个月
C Corporation Income Taxation
When multinational enterprises proactively initiate transfer pricing adjustments to avoid penalties or for other reasons, a tax treaty’s mutual agreement procedure (MAP) can help prevent double ...
The Tax Adviser8 个月
Partnership and LLC Taxation
The Supreme Court upheld the mandatory repatriation tax as a valid exercise of Congress’s taxing authority. The Court did not reach the question of whether income must be realized to be taxable. The ...
The Tax Adviser1 年
PRACTICE MANAGEMENT
To get through the rigors of tax season, CPAs depend on their tax preparation software. Here's how they rate the leading professional products.
The Tax Adviser2 年
S Corporation Income Taxation
The IRS says covered corporations will not have to report or pay the new 1% stock repurchase excise tax until it issues forthcoming regulations. The IRS waived the penalty for corporations that did ...
The Tax Adviser2 年
Partnership and LLC Taxation
Final regulations, issued last week, except certain partnership-related items from the regime and provide alternative rules for their examination by the IRS, as well as provide rules for the ...