The IRS issued guidance for recipients of property from decedents on the basis-consistency requirement and for executors and others on basis-reporting requirements.
A IRS Publications 4557, 1345, and 5709 are foundational for safeguarding taxpayer data and great resources for you to start ...
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The IRS recently released an information letter to clarify the treatment of the Sec. 179 limitations applied to members of a controlled group, in which certain members had made an election to be ...
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An S corporation’s revocation of its S corporation status, which caused its QSub subsidiary to lose its status as a QSub, was not a post-bankruptcy-petition transfer of property of the QSub’s ...
While the Seventh Circuit's decision in Vainisi was favorable for S corporation banks investing in tax-exempt obligations, those banks nonetheless must pay close attention to the specific type of ...
Partnerships and their partners need to work closely to maintain strong communications to overcome challenges to information sharing and, ultimately, to computational matters and information reporting ...
Family investment partnerships are frequently used to manage and control multigenerational family wealth and may result in significant economic and tax benefits. The Second Circuit held that two banks ...
This item discusses nonprorated S corporation rollovers and the unexpected tax consequences.