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Court held exploratory research expenses were not deductible

Court held exploratory research expenses were not deductible

Tax court held that an electrical engineer was not carrying on a trade or business and could not deduct exploratory research expenditures.

  • Lori Anne Johnston
  • |
  • July 25, 2017
Debt issuance costs deductible upon subsequent borrowing

Debt issuance costs deductible upon subsequent borrowing

Taxpayer’s issuance of additional debt for cash supports deduction of unamortized costs incurred at earlier issuance.

  • Nick Gruidl, Stefan Gottschalk
  • |
  • July 25, 2017
Cayman Islands provides final extension for US FATCA & CRS reporting

Cayman Islands provides final extension for US FATCA & CRS reporting

The Cayman Islands has recently extended, for the final time, the deadline for US FATCA & CRS reporting to Aug. 31, 2017.

  • Aureon Herron-Hinds, Kyle Brown
  • |
  • July 24, 2017
IRS answers common questions regarding country-by-country report

IRS answers common questions regarding country-by-country report

New IRS guidance on country-by-country (CbC) reporting highlights useful information and additional resources.

  • Bob Bamsey
  • |
  • July 19, 2017
Tax Court rules gain on sale of partnership not taxable in US

Tax Court rules gain on sale of partnership not taxable in US

Court holds that gain on sale of interest in U.S. partnership is not taxable, rejecting long-standing IRS guidance.

  • Kyle Brown
  • |
  • July 17, 2017
Tax reform process continues

Tax reform process continues

Tax reform discussions continue despite the ongoing efforts to find consensus on a repeal or replacement of the Affordable Care Act.

  • Anne Bushman, Dave Kautter
  • |
  • July 17, 2017
Senate releases draft of health care bill

Senate releases draft of health care bill

The Better Care Reconciliation Act of 2017 is designed to provide states and individuals more health care options.

  • Jill Harris
  • |
  • July 14, 2017
Treasury withdraws proposed 'no net value' regulations

Treasury withdraws proposed 'no net value' regulations

The proposed regulations provided that nonrecognition treatment would only be available in transactions involving an exchange of net value.

  • Justin Audenaert
  • |
  • July 13, 2017

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