The Tax Adviser28d
IRS grants partnerships additional time to furnish complete Forms 8308
The IRS said Friday that it is providing relief from certain penalties imposed solely for failure of a partnership with unrealized receivables or inventory items to furnish Part IV of Form 8308, ...
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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 ...
The Tax Adviser5y
S Corporation Income Taxation
The M&A market is poised to regain its pre-COVID-19 activity levels as many business owners seek to exit closely held businesses or explore alternatives. One popular transaction that could emerge is ...
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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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S Corporation Income Taxation
Many factors must be considered when electing S status for a new corporation or converting an existing C corporation to ensure a timely election. This item discusses how a back-to-back loan is a ...
The Tax Adviser5mon
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 Adviser7mon
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 Adviser4y
Partnership and LLC Taxation
The IRS finalized proposed regulations on withholding from transfers of partnership interests to foreign persons and the definition of effectively connected income for those purposes. The IRS said it ...
The Tax Adviser7y
S Corporation, Partnership & LLC Taxation
The 2016 regulations put partners on notice that Sec. 987 principles generally apply to partnership assets and liabilities. The Tax Court held that the owners of the Boston Bruins could deduct the ...
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S Corporation, Partnership & LLC Taxation
Revised draft instructions for partnership and S corporation Schedules K-2 and K-3 contain significant changes to the requirements to qualify for the domestic filing exception for filing and ...
The Tax Adviser4y
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The preeminent, authoritative, professional tax journal for CPAs, providing them with timely, in-depth, practical, and comprehensive information that helps CPAs maintain their identification with and ...
The Tax Adviser3y
Tax Planning; Tax Minimization
In addition to the guidance on the plan, the letter recommends that Treasury and the IRS continue pursuing tax simplification. IRS commissioner Danny Werfel promised “marked improvement” for the ...