The AICPA said it supports the bipartisan Taxpayer Assistance and Service (TAS) Act discussion draft that two senators released Thursday and especially backs 13 of the 65 provisions designed to reduce ...

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 ...

This annual update covers recent developments relating to S corporations, including new IRS relief for common inadvertent S election lapses; state passthrough entity taxes; and court holdings ...

The final regulations implement Sec. 2801, added to the Code in 2008, and follow up on proposed regulations issued 10 years ago. Changes to the qualified domestic trust regulations under Sec. 2056A ...

The IRS announced that it will issue proposed regulations providing some relief to brokers that are required to withhold on the transfer of an interest in a publicly traded partnership (PTP) if the ...

The IRS issued guidance clarifying that a deduction is disallowed for expenses for payroll costs, mortgage interest, rent, utilities, and other interest on debt obligations to the extent they are ...

Entities such as S corporations and partnerships, as well as sole proprietorships, should carefully consider the U.S. tax treatment of foreign subsidiaries. The regulations under Secs. 481(a) and 706 ...

The regulations provide guidance on determining who is one of the “five highest compensated employees” under Sec. 162(m)(3)(C).

A company that uses a reverse merger to go public generally would like to structure the merger as a tax-free reorganization.

IRS final regulations govern electing out of centralized partnership audits. Partnership audit adjustments addressed in proposed regs. The IRS issued proposed regulations addressing how partnerships ...

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