On Sept. 12, 2024, Treasury issued highly anticipated proposed regulations (REG-112129-23) to address the application of the corporate alternative minimum tax (corporate AMT) imposed on an applicable ...

The new safe-harbor guidance for digital asset transaction reporting in Rev. Proc. 2024-28 goes into effect Jan. 1, 2025. This article explains how taxpayers may rely on the safe harbor to allocate ...

An employer will have to make some effort to document that the parking available at an employee parking facility has no value, many employers will find that this burden is worth bearing because it ...

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 ...

When group policies are purchased from foreign insurance companies, there may be federal insurance excise tax issues.

The IRS issued guidance for recipients of property from decedents on the basis-consistency requirement and for executors and others on basis-reporting requirements. The IRS said that crowdfunding ...

The new lowered corporate tax rate will probably lead to more C corporations and a resulting increase in taxpayers’ interest in the Sec. 1202 100% exclusion on gain from the sale of QSB stock.

A personal service corporation must generally use a calendar year, but it can choose a fiscal year in certain circumstances.

This article outlines a five-step process for calculating a corporate partner’s distributive share related to the application of the corporate alternative minimum tax imposed on an applicable ...

This first part of this annual update focuses on trust and gift tax issues. The penalty for failure to report a distribution from a foreign trust is not reduced when the trust beneficiary is also the ...