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, ...

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 ...

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.

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 ...

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 ...

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 ...

To get through the rigors of tax season, CPAs depend on their tax preparation software. Here's how they rate the leading professional products.

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 ...

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 ...