The Tax Adviser8h
The complex simplicity of partnership interests exchanged for services
Preventing unwanted tax consequences from compensatory partnership interests requires understanding Regs. Sec. 1.721-1(b)(2) ...
The Tax Adviser8h
Planning for the AMT
Strategies can include accelerating income recognition or deferring deductions, certain tax elections, and optimal use of AMT ...
The Tax Adviser8h
IRS increases scrutiny of business aircraft use
Businesses that own, lease, or charter aircraft should prepare for increased IRS scrutiny by closely reviewing their ...
The Tax Adviser8h
A closer look at the costs of borrowing
Comparison of the accounting and tax treatment of interest expense may reveal crucial differences and lead to best practices ...
The Tax Adviser8h
Loper Bright and the future of deference to state tax authorities
States that adopted some version of the 1984 Chevron judicial deference standard may see their tax regulations challenged in ...
The Tax Adviser8h
Beyond the forms: The tax return as a beacon for financial planning
CPA personal financial planners’ ability to discern the story inherent in a client’s tax returns brings unique value to the ...
The Tax Adviser8h
The research credit: Business-component requirement
The Fifth Circuit’s decision in Grigsby, 86 F.4th 602 (5th Cir. 2023), emphasizes the need for taxpayers to clearly define ...
The Tax Adviser8h
FTR notification requirement for taxpayers under LB&I examination
A foreign tax redetermination may require taxpayers under Large Business and International Division examination to notify the ...
The Tax Adviser8h
New or veteran professional: Unlocking passion and purpose in public accounting
A commitment to public accounting can bring personal growth and professional fulfillment and create opportunities to find ...
The Tax Adviser8h
The final countdown: Benefiting from the higher BEA before it potentially expires
With the basic exemption amount for estate, gift, and generation-skipping transfer taxes set to be cut in half after the end ...
The Tax Adviser8h
Equitable tolling does not apply to refund limitation statutes
The refund limitation periods of Secs. 6511(b)(2) and 6212(b)(3) are not subject to suspension under the doctrine, the Tax ...
The Tax Adviser8h
Current developments in taxation of individuals: Part 1
This update surveys recent federal tax developments involving individuals, including court cases, rulings, and guidance issued during the six months ending October 2024.