A IRS Publications 4557, 1345, and 5709 are foundational for safeguarding taxpayer data and great resources for you to start ...

The IRS issued proposed regulations providing guidance on the corporate alternative minimum tax (AMT) and a notice that waives the penalty for failure to pay estimated tax with respect to the ...

The IRS said that crowdfunding distributions may be included in the gross income of the person receiving them, depending on the facts and circumstances of the distributions. The value on an estate ...

An interesting issue can arise when a corporation must recapture dual consolidated losses on the sale of a foreign entity.

Partnerships’ administrative adjustment requests filed under the Bipartisan Budget Act rules can affect partners in disparate ways, including where adjustments flow through a tiered structure. The Tax ...

The PSA uses a chat between friends in a coffee shop to educate small businesses about beneficial ownership information reporting, which 32.6 million businesses must file.

Gain on the disposition of controlled foreign corporation stock, in excess of the amount of gain required to be recognized as foreign income to offset a taxpayer’s overall foreign loss under Sec.

Various forms of debt workouts and restructurings can trigger COD income, which results in taxable income to the debtor unless specifically excluded under Sec. 108. This item addresses and summarizes ...

In a second letter, the AICPA takes issue with broad new documentation requirements for refund claims involving the Sec. 41 credit, outlined in an IRS memo in fall 2021. Determining the best way to ...

Delinquent partnership returns are ‘filed’ when they are delivered by the requested method to and received by an IRS official authorized to receive such returns; ...

This item provides an overview of the division rules and touches on some key issues to consider when a transaction involves a partnership division.