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, ...
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 ...
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 TCJA amended Sec. 461 to include a subsection (l), which disallows excess business losses of noncorporate taxpayers if the amount of the loss is in excess of $250,000 ($500,000 in the case of a ...
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 ...
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 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 ...
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 ...
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 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 ...
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 ...
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 ...