The Tax Adviser’s April 2015 Tax Clinic articles
The following tax insights originally appeared in The Tax Adviser's April 2015 Tax Clinic column. Authored by a range of RSM tax professionals, these 12 articles focus on current tax issues and opportunities that may impact business and individual taxpayers.
CORPORATIONS AND SHAREHOLDERS
Taxpayers should understand the benefits of incorporating prior to a sale to an ESOP, as well as the risks inherent in such a transaction.
CREDITS AGAINST TAX
An in-depth understanding of the rules and regulations associated with the tax credit can help ensure its benefit is realized.
Final repair regulations make a cost segregation study more important than ever.
Understand the risks and benefits of adopting a general asset account for the treatment of tangible assets.
EMPLOYEE BENEFITS AND PENSIONS
The guidelines for determining ACA employment status when an employer changes the measurement method or period are clarified in Notice 2014-49.
ESTATES, TRUSTS AND GIFTS
Tax planning offers opportunities for minimizing issues caused by income in respect of decedent.
GAINS AND LOSSES
Recent court decisions support the existence and sale of personal goodwill as an asset separate from corporate-owned goodwill.
PARTNERS AND PARTNERSHIPS
The overlap of technical partnership rules with international tax concepts may create exposure when selling an interest in a partnership owning a CFC.
PRACTICE AND PROCEDURES
Taxpayers that sell products or services online need to be aware of IRS notice letters so they may quickly respond to the IRS when necessary.
PROCEDURE AND ADMINISTRATION
New AJAC procedures promote efficiency, quicker settlements and IRS Appeals’ independence.
Purchasers of U.S. real property interests from foreign sellers may be required to withhold tax under FIRPTA rules.
State and local taxes
Actions taken by the Indiana Department of Revenue blur the lines when apportioning services receipts, creating potential traps and opportunities.