Journal of Accountancy

New regs. reshape 1% stock buyback tax, drop funding rule

The IRS published final regulations that scrap the proposed funding rule and ease compliance for M&A deals, preferred stock, and netting provisions.

IRS PLR: S Corporation Termination Inadvertent (IRC §1362(f))

The IRS has issued a private letter ruling on Section 1362(f) of the Internal Revenue Code, concluding that taxpayer will continue to be treated as an S corporation because taxpayer’s ...
FOX 29 News Philadelphia

Stimulus payment December 2025, IRS direct deposit relief payment & tariff dividend fact check

In 2024, the Internal Revenue Service announced automatic payments for eligible taxpayers who had not claimed the Recovery ...
JD Supra

IRS Withdraws Controversial "Funding Rule" for Stock Buyback Excise Tax

The Internal Revenue Service (IRS) and U.S. Treasury Department have issued final regulations (T.D. 10037) (Final Regulations ...
Journal of Accountancy

Second Circuit reverses Tax Court’s dismissal of deficiency petition

The appellate court holds that the Sec. 6213(a) deadline for filing a Tax Court deficiency petition is nonjurisdictional and ...
The Tax Adviser

Preparer’s intent to evade tax extends taxpayer’s limitation period

Stephanie Murrin underpaid her taxes from 1993 to 1999 because her tax preparer, Duane Howell, placed false or fraudulent entries on her tax returns with an intent to evade tax. Murrin did not intend ...
The Tax Adviser

Notice 2025-27 provides interim guidance on corporate AMT

The notice provides an optional interim simplified method of determining whether a corporation is an applicable corporation for purposes of the corporate AMT and relief from the Sec. 6655 penalty for ...